In a significant move to strengthen economic cooperation, Canada and the United Arab Emirates have finalized a series of comprehensive agreements spanning artificial intelligence, defense, energy, and financial services. Canadian Minister of International Trade Maninder Sidhu confirmed the development during his diplomatic mission to the UAE, highlighting the strategic importance of this bilateral partnership.
The trade diversification strategy forms a cornerstone of Canada’s economic vision, with ambitious targets to generate $300 billion in non-US exports within the next decade. This initiative gains particular relevance given that the United States currently absorbs the majority of Canadian exports, including substantial shipments of crude petroleum, natural gas, and mineral resources totaling approximately $419.75 billion in 2024.
Minister Sidhu’s delegation featured representatives from more than 40 Canadian enterprises across diverse sectors including advanced manufacturing, technology innovation, artificial intelligence development, aerospace engineering, and energy solutions. A notable milestone in financial services emerged with Canada’s National Bank establishing its inaugural UAE branch in Dubai, marking the institution’s first international expansion since its founding in 1859 and becoming the fourth Canadian financial institution to operate within the Emirates.
The bilateral relationship, rooted in longstanding commitments to mutual investments, regional security cooperation, and cultural exchanges, recently witnessed its first Canadian prime ministerial visit since 1983 when Prime Minister Justin Trudeau traveled to the UAE last November. Current trade dynamics show Canadian agricultural exports to the UAE predominantly consist of dried legumes, rapeseed, and wheat, as recorded by the Observatory of Economic Complexity in September 2025.
Infrastructure development emerged as another critical dimension of the partnership, with Minister Sidhu meeting DP World CEO Sultan Ahmed bin Sulayem to explore opportunities for enhancing Canadian port capabilities, further solidifying the multifaceted nature of this strengthened economic alliance.