Arab world’s second largest economy to strengthen economic ties with Canada
UAE plans to invest $50 billion in Canada as part of an investment framework agreement between the two countries.
As part of the agreement, the Arab world’s second largest economy will invest in vital sectors including energy, AI logistics, mining and other strategic industries, the Ministry of Investment said.
Under the directive of the UAE President Sheikh Mohamed, Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, approved the investment framework, with Canadian Prime Minister Mark Carney and Mohamed Alsuwaidi, UAE Minister of Investment and managing director and chief executive of ADQ, in attendance.
Mr Carney is visiting the UAE as Canada focuses on strengthening economic ties with Abu Dhabi. The foreign direct investment stock from the UAE stood at $8.8 billion in 2024.
