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Carney Seeks UAE Investment With Pact Reported Ready in First Visit Since 1983

The trip seeks to formalize an investment framework to draw Gulf capital for Canadian projects.

Overview

  • The prime minister is holding closed-door meetings in Abu Dhabi with President Sheikh Mohamed bin Zayed and leaders of major sovereign wealth funds, with no press conference scheduled.
  • A foreign investment promotion and protection agreement is described by a senior Canadian official as ready to go, though no public signing has been confirmed.
  • Ottawa is pitching Canada as a stable destination for energy, infrastructure, AI and agriculture investment, highlighting faster approvals and the new Major Projects Office.
  • Human-rights groups cite reports that the UAE has supported Sudan’s Rapid Support Forces, which the Emirati government denies, and Canada notes ongoing diplomacy and nearly $80 million in Sudan aid this year.
  • The outreach targets funds such as ADIA and Mubadala as Canada seeks to diversify beyond the U.S., following recent UAE-Canada commercial steps including a Dubai Chamber office opening in Toronto.