Prime Minister Mark Carney has solidified a new Strategic Partnership with the United Arab Emirates (UAE), marking a historic milestone in bilateral relations. The agreement, announced during the first-ever visit by a Crown Prince of Abu Dhabi to Canada, encompasses economic ties, energy, technology, education, defence, and diplomacy. Key highlights include the signing of the Canada-UAE Comprehensive Economic Partnership Agreement (CEPA), negotiated in a record 47 days, which aims to eliminate tariffs on over 99% of Canadian exports to the UAE. This deal is expected to double two-way trade from $3.4 billion to $7 billion over the next decade.
The partnership also includes a Memorandum of Understanding (MOU) on Defence Cooperation, establishing frameworks for military education, joint exercises, and cyber security. Additionally, an MOU between Global Affairs Canada and the Anwar Gargash Diplomatic Academy will enhance cooperation on diplomatic training and education programs. The visit further advanced the UAE’s $70 billion investment commitment to Canada, with agreements signed in energy, infrastructure, and technology sectors.
Prime Minister Carney emphasized the significance of the partnership, stating, 'The CEPA we concluded with the UAE in a record 47 days will double our two-way trade... Canadian businesses across energy, aerospace, critical minerals, agri-food and more will have greater access to the UAE’s $700 billion economy.' The strategic alliance is poised to create high-quality jobs, strengthen supply chains, and foster long-term economic growth for both nations.