Prime Minister Mark Carney signs a major investment pact with the U.A.E. and launches new trade negotiations during a tightly controlled visit to Abu Dhabi.
Carney Signs Landmark UAE Investment Pact
Abu Dhabi, Nov. 20 — Prime Minister Mark Carney has signed a landmark investment-protection agreement with the United Arab Emirates, marking the first visit by a Canadian leader to the Gulf nation in decades. The pact aims to boost trade and encourage investment across sectors including energy and artificial intelligence.
Expanding Canada–UAE Economic Cooperation
Carney met Thursday with UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi, where the two leaders agreed to begin formal talks toward a Comprehensive Economic Partnership Agreement (CEPA). The prime minister also met Industry Minister Sultan al-Jaber before touring the Sheikh Zayed Grand Mosque, one of the world’s most iconic religious landmarks.
Meetings with Sovereign Wealth Funds
Later in the day, Carney held closed-door meetings with officials from major Emirati investment groups, including Mubadala, ADQ, MGX, and ADIC. These discussions focused on attracting capital to Canada’s clean energy, infrastructure, and technology sectors. A dinner with the UAE’s national security adviser capped off the diplomatic visit.
AI Collaboration a Key Focus
The visit builds on a recent Canada–UAE agreement to expand collaboration in artificial intelligence and data centres. According to Janice Stein, founding director of the Munk School of Global Affairs, the UAE’s rapid rise in AI innovation makes it an ideal partner for Canada. “It is very prescient for the prime minister to go — and go early,” she said, noting Carney’s reputation as a former central banker and UN envoy helps foster trust and interest in the partnership.
Regional Tensions Shadow Visit
Despite the optimistic tone of trade discussions, Carney’s visit occurs amid rising criticism of the UAE’s alleged role in Sudan’s ongoing civil conflict. The Emirati government has denied UN reports suggesting it has supplied arms to the Rapid Support Forces, accused of widespread ethnic violence. Media access to Carney’s meetings was restricted, limiting transparency during the trip.
Diplomatic Challenges and Next Steps
A readout from Carney’s meeting with Sheikh Mohamed mentioned the situation in Palestine but omitted Sudan. Analysts suggest the omission reflects Ottawa’s cautious approach to balancing trade ambitions with human rights concerns. Following his UAE visit, Carney will head to Johannesburg to attend the G20 leaders’ summit, where economic cooperation and regional stability are expected to dominate discussions.
