UAE and Canada sign trade pact as Emirati firms pursue $15 billion in deals

Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has concluded an official visit to Canada during which the two countries signed a trade agreement and advanced cooperation in several strategic sectors, the Abu Dhabi Media Office said on October 28.

During the visit, Sheikh Khaled met Canadian Prime Minister Mark Carney in Ottawa, where the leaders witnessed the signing of the UAE-Canada Comprehensive Economic Partnership Agreement (CEPA), alongside three other agreements and memorandums of understanding.

The visit also highlighted plans to expand commercial ties, with Emirati companies negotiating potential trade and investment deals worth up to C$21.1 billion ($15 billion) with Canadian counterparts.

What does the UAE-Canada trade agreement cover?

The Comprehensive Economic Partnership Agreement is intended to strengthen trade and investment ties between the UAE and Canada, while opening up opportunities for businesses in both countries.

The accompanying agreements and memorandums cover areas including defense, renewable energy and diplomatic training. The broader discussions also addressed artificial intelligence, advanced technology, mining, infrastructure, logistics, aviation, space and food security.

Sheikh Khaled said closer cooperation between government institutions and businesses could create new opportunities for both countries. He also emphasized the importance of developing long-term partnerships and joint projects that deliver sustainable economic benefits.

How much are Emirati companies looking to invest in Canada?

Emirati companies are negotiating potential deals worth up to C$21.1 billion ($15 billion), building on a C$70 billion ($50 billion) investment framework announced during Carney’s visit to the UAE in November 2025.

The negotiations focus on four areas: mining, logistics, energy and investment involving sovereign wealth funds. The proposed deals are intended to translate the two countries’ economic commitments into commercial opportunities and long-term investment.

The discussions form part of broader efforts to deepen business ties and encourage investment in sectors considered important to both countries’ economic development.

What did Sheikh Khaled and Mark Carney discuss?

Carney welcomed Sheikh Khaled at Parliament Hill in Ottawa before the two held official talks on bilateral relations and opportunities to expand cooperation.

Their discussions covered economic and investment ties, emerging technologies, clean energy and defense, as well as infrastructure and other strategic industries. The leaders also exchanged views on regional and international developments, emphasizing dialogue and diplomatic solutions as means of supporting peace, security and stability.

Sheikh Khaled conveyed greetings from UAE President Sheikh Mohamed bin Zayed Al Nahyan to Carney, along with wishes for Canada’s continued progress and prosperity. Carney reciprocated with greetings to the UAE president.

At the conclusion of the visit, Sheikh Khaled thanked the Canadian government for its hospitality and said he hoped the engagement would create further opportunities for cooperation in areas of mutual interest.