Prime Minister Mark Carney secures UAE commitment for Canada's infrastructure and energy sectors
Canadian pension funds managing $2tn in capital will visit the United Arab Emirates next year to develop long-term investment opportunities.
This initiative follows Prime Minister Mark Carney's historic visit to Abu Dhabi, where he secured a $70bn investment commitment from the Gulf nation in critical minerals, energy, artificial intelligence, and infrastructure.
According to the Prime Minister's office, the UAE's pledge represents a significant expansion of bilateral investment and reflects confidence in Canada's economy.
Reported by CBC News, Carney described the commitment as "a powerful vote of confidence in our economy and a major step forward in our new strategic partnership."
The visit produced two key instruments designed to facilitate capital flows.
As per the Prime Minister's website, Carney and UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan signed the Canada-UAE Foreign Investment Promotion and Protection Agreement (FIPA), establishing clear, predictable rules for investors and stable business environments that unlock bilateral investment.
Negotiations also launched toward a Comprehensive Economic Partnership Agreement (CEPA), which will cut tariffs and expand market access.
According to the Prime Minister's office, UAE sovereign wealth funds will visit Canada early next year to identify investment opportunities in Canadian energy, infrastructure, and technology.
Carney personally invited Emirati investors to explore "investment in Canada's transformative projects," signalling openness to large-scale, long-term partnerships.
For Canadian pension managers, the opportunity extends to sectors including energy, infrastructure, and artificial intelligence—areas where the UAE ranks among the world's most sophisticated investors.
As per CBC News, Carney noted that "the level of penetration usage of artificial intelligence is the highest in the UAE and it's one of the largest and most sophisticated sets of investors in the world."
Carney's first visit to the UAE as Prime Minister since 1983 establishes what he described as "a new chapter" for bilateral relations.
The agreements position Canada as an emerging destination for institutional capital seeking stable, predictable returns in infrastructure and emerging technologies.
