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Carney Signs UAE Investment-Protection Pact, Opens Trade Talks in Abu Dhabi

The accord establishes investor safeguards that Canada hopes will unlock Gulf capital for major projects.

Overview

  • Canada and the United Arab Emirates signed a Foreign Investment Promotion and Protection Agreement, with Sheikh Abdullah bin Zayed and Prime Minister Mark Carney as signatories after Carney met President Sheikh Mohammed bin Zayed.
  • Both countries launched negotiations toward a Comprehensive Economic Partnership Agreement aimed at lowering tariffs, removing barriers and expanding market access.
  • Carney held meetings with leaders of major Emirati funds, including Mubadala, ADQ/ADIC and MGX, and attended a dinner hosted by national security adviser Sheikh Tahnoon bin Zayed.
  • Journalist access was restricted during the visit, with no Abu Dhabi news conference and bilateral sessions closed to media.
  • The trip took place as UN experts and rights groups report credible allegations that the UAE supports Sudan’s RSF, a claim the UAE denies, and Canada has not joined the U.S. in calling the Darfur violence a genocide.