The UAE has pledged $50 billion to invest in Canada’s energy, artificial intelligence, logistics, and critical minerals sectors. UAE sovereign wealth funds are due to visit Canada in early 2026 to start identifying potential deals, and Canadian pension funds will come to the emirates as part of a deal struck during a visit to Abu Dhabi by Canada’s Prime Minister Mark Carney, alongside a promise to open talks on a free-trade deal.
The agreement marks a step change in the countries’ economic relations. As of last year, UAE investments in Canada totaled $8.8 billion, while Canada’s amounted to just $242 million in the UAE. The UAE aims to attract more inward investment of its own — separately this week, it approved the establishment of a $10 billion fund to incentivize more foreign direct investment.