Canada, UAE Discuss Expanding Trade and Investment Cooperation in Toronto
Toronto, The Gulf Observer: Canadian Prime Minister Mark Carney received Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, on the sidelines of the Canada Investment Summit 2026 in Toronto, with the two sides discussing ways to further strengthen bilateral trade and investment relations.
Al Zeyoudi was accompanied by a high-level UAE delegation comprising leading investors, business leaders and officials from the public and private sectors participating in the summit.
At the beginning of the meeting, Al Zeyoudi conveyed the greetings of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court. He also conveyed their wishes for continued progress and prosperity for Canada and its people.
Prime Minister Carney welcomed Al Zeyoudi and the accompanying delegation and conveyed his greetings to the UAE leadership. He expressed Canada’s appreciation for the growing bilateral relationship with the UAE and its desire to further strengthen cooperation in areas of mutual interest, particularly trade and investment.
The discussions focused on the growing momentum in UAE-Canada trade and investment relations and opportunities to expand cooperation in priority sectors, including clean energy, critical minerals, artificial intelligence, agri-food, aviation, space and infrastructure.
The two sides stressed the importance of accelerating implementation of the US$50 billion investment framework announced during Prime Minister Carney’s visit to the UAE in November 2025. The framework is intended to provide a platform for translating shared investment ambitions into projects supporting long-term economic growth.
The meeting also reviewed progress following the conclusion of negotiations on the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Canada in July. According to WAM, the negotiations were completed in record time, making them the fastest negotiation under the UAE’s CEPA programme and the fastest trade negotiation concluded by Canada.
Al Zeyoudi said the meeting with Prime Minister Carney and the UAE’s participation in the Canada Investment Summit 2026 reflected the depth of the economic partnership between the two countries and its potential to support sustainable growth and create new opportunities for their business communities.
He highlighted progress achieved through the conclusion of the CEPA negotiations and the US$50 billion investment framework, saying the two countries were working to translate this momentum into concrete projects in sectors considered important to the future economy.
During his visit, Al Zeyoudi also held a series of bilateral meetings, including a working luncheon hosted by Canada’s Minister of International Trade Maninder Sidhu.
He met with Canada’s Minister of Finance and National Revenue François-Philippe Champagne; Alberta Premier Danielle Smith; Saskatchewan Premier Scott Moe; Manitoba Premier Wab Kinew; Minister of AI, Digital Transformation and the Federal Economic Development Agency for Southern Ontario Evan Solomon; and former Canadian Prime Minister and Alberta Investment Management Corporation Board Chair Stephen Harper.
Al Zeyoudi also met Dominic Barton, Chair of the Board of Directors of Invest in Canada, and Paul Desmarais III, CEO of Sagard.
The meetings explored ways to expand bilateral commerce, enhance private-sector cooperation and leverage the UAE’s strategic position as a gateway to regional and global markets.
According to WAM, bilateral non-oil trade between the UAE and Canada reached approximately US$4.2 billion in 2025, representing a 21 percent increase compared with 2024. During the first half of 2026, bilateral non-oil trade stood at approximately US$2.03 billion, up 19 percent from the corresponding period in 2025.
Canada is the UAE’s third-largest trading partner in the Americas after the United States and Brazil, accounting for around 7 percent of the UAE’s trade with the region. The UAE is Canada’s largest Arab trading partner, accounting for 22 percent of Canada’s trade with Arab countries in 2025.
