Carney Signs Investment Protection Deal and Opens Trade Negotiations During UAE Visit

Canadian Prime Minister Mark Carney has signed a new investment-protection agreement with the United Arab Emirates, marking a significant step toward deeper economic ties between the two countries. The announcement came Thursday during Carney’s visit to Abu Dhabi, where the trip has been held with limited media access amid concerns about the UAE’s role in ethnic violence in Sudan.

Launch of Comprehensive Trade Talks

Following a meeting with UAE President Sheikh Mohammed bin Zayed Al Nahyan, Carney confirmed that both sides have officially agreed to begin negotiations toward a full economic partnership agreement.
This initiative aims to strengthen bilateral trade, investment flows, and strategic cooperation.

Earlier in the day, the prime minister also held discussions with Sultan al-Jaber, the UAE’s Minister of Industry, before touring the Sheikh Zayed Grand Mosque.

Later on Thursday, Carney is scheduled to meet with top executives from several major Emirati sovereign wealth funds and investment groups, including:

Mubadala

MGX

ADQ

ADIC

These meetings will precede a dinner hosted by the UAE’s national security adviser.

Growing Technology Partnership Between Canada and the UAE

The visit comes only a month after Canada and the UAE signed a bilateral agreement to enhance cooperation in artificial intelligence (AI) and data-center development.

According to Janice Stein, founding director of the Munk School of Global Affairs at the University of Toronto, the UAE is positioning itself as a global leader in AI innovation. Speaking earlier this week, she noted that the country’s rapid adoption of advanced technologies makes it a valuable partner for Canada.

Stein added:

“This is exactly the right time for the prime minister to visit. Emirati leaders know Carney well from his previous roles, and there is genuine enthusiasm about expanding collaboration.”

Why the UAE Matters to Canada’s Future Tech Economy

The UAE is leveraging its low-cost energy to support massive data-center operations—similar to how Canada hopes to utilize Alberta’s oilsands for the same purpose.
The country has also secured commitments from U.S. President Donald Trump ensuring access to next-generation American semiconductor technologies, despite concerns in Washington about the UAE’s ties with China.

Stein says this access could help the UAE become one of the major AI and digital-economy hubs in the world, making closer cooperation with Canada even more strategic.

Cultural Stop: Sheikh Zayed Grand Mosque

During his visit, Carney toured the Sheikh Zayed Grand Mosque, an architectural landmark featuring 82 domes and known for housing the largest hand-knotted carpet in the world. Carney remarked that the mosque incorporates materials sourced from many countries, reflecting its global character.

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