The United Arab Emirates and Canada concluded negotiations on a Comprehensive Economic Partnership Agreement in Toronto on Friday, with UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi and Canadian Minister of International Trade Maninder Sidhu shaking hands after what Sidhu described as a busy couple of days that ended with the final touches just minutes before the press conference.
The agreement gives Canadian companies improved access to the largest market for Canadian exports in the Middle East and could help attract capital from Dubai and Abu Dhabi into sectors including energy, ports, mines and LNG. The deal was negotiated in 47 days, one of the fastest CEPA conclusions in UAE history. It still requires legal review and ratification.
Sidhu said Canada’s goal is to double non-US exports by $300 billion by 2035 and unlock a trillion dollars in new investments, adding the UAE’s $70 billion investment pledge from November 2025 has not yet been deployed but Al Zeyoudi said energy sector announcements were coming soon. Canada also signed a separate free trade agreement with Ecuador on the same day.
The deal is Carney’s most significant trade diversification win since Trump imposed 50% tariffs on Canadian goods this week.
