UAE Commits $50B to Canada in AI and Energy Push Amid Carney-Led Trade Expansion

The UAE has pledged up to $50 billion in investments to Canada, marking a significant milestone in bilateral relations. The commitment, announced during Prime Minister Justin Trudeau's first official visit to the UAE in over four decades, aligns with Canada's strategy to diversify exports beyond the U.S. and attract $1 trillion in foreign investment within five years.

Former Bank of England Governor Mark Carney, now a key figure in Canada's economic outreach, secured the deal during talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan. The two nations signed a Foreign Investment Promotion and Protection Agreement (FIPA), establishing clear rules for Emirati investors in sectors ranging from clean technology to artificial intelligence infrastructure.

Negotiations have begun for a Comprehensive Economic Partnership Agreement (CEPA), which could further reduce trade barriers. "These agreements will funnel billions into Canadian projects while creating high-value jobs," Carney stated, underscoring the potential impact on emerging technology sectors.