UAE pledges up to $50B for Canada during Carney's Abu Dhabi visit
The agreement was signed by Canadian Prime Minister Mark Carney and UAE President Mohammed bin Zayed Al Nahyan on Friday, during the former’s official visit to Abu Dhabi.
The United Arab Emirates announced Friday that it would invest up to $50 billion in Canada across projects in strategic sectors including artificial intelligence, energy, logistics and mining.
What happened: In a statement posted on the X platform, the UAE Ministry of Investment said the two countries had reached a Foreign Investment Promotion and Protection Agreement.
The agreement was signed by Canadian Prime Minister Mark Carney and UAE President Mohammed bin Zayed Al Nahyan on Friday, during the former’s official visit to Abu Dhabi. It was Carney's first official visit to the Gulf country, and the first by a Canadian prime minister since 1983.
UAE Investment Minister Mohamed Hassan Alsuwaidi was also at the signing along with other senior officials from both countries, according to the UAE Investment Ministry.
