Prime Minister Mark Carney’s successful visit to the United Arab Emirates (UAE), which secured landmark agreements to strengthen Canada’s economy and create new opportunities for Canadian businesses and workers.
During the visit, Canada signed a Foreign Investment Promotion and Protection Agreement (FIPA) with the UAE, providing clear and predictable rules for investors and unlocking billions in bilateral investment. This agreement will help Canadian companies expand globally while attracting capital for major projects at home.
Canada and the UAE also launched negotiations toward a Comprehensive Economic Partnership Agreement (CEPA), aimed at reducing trade barriers and opening new markets for Canadian goods and services. These efforts are expected to double Canada-UAE trade from $3.4 billion to $7 billion over the next decade.
The UAE announced a historic $70 billion investment in Canada, a strong vote of confidence in our economy that will create high-paying jobs and drive growth in sectors such as energy, infrastructure, and technology.
“These agreements will bring new opportunities for Canadian businesses and workers, diversify our trade, and strengthen our economy,” said MP Sonia Sidhu. “Brampton is home to a vibrant business community and a skilled workforce ready to lead in sectors like logistics and technology. These partnerships will help local businesses access new markets and attract investment that creates jobs right here in our city.”
“In a more divided and dangerous world, Canada is securing new deals with new partners. Our agreements with the UAE will attract billions of dollars in investments into Canada, open new markets and opportunities for our workers and businesses and create high-paying careers across the country. Canada is diversifying our trade and finding new investors to fuel our plans to build Canada strong.” - The Rt. Hon. Mark Carney, Prime Minister of Canada