Prime Minister Mark Carney finalized an investment-protection accord with the United Arab Emirates on Thursday during his visit to Abu Dhabi, which has been relatively shielded from media scrutiny due to concerns about the nation’s alleged involvement in fueling ethnic conflicts in Sudan. Carney revealed the investment agreement after a meeting with U.A.E. President Sheikh Mohamed bin Zayed Al Nahyan, where they also commenced discussions on a comprehensive trade deal with the goal of establishing a broad economic partnership agreement in the future.
Earlier in the day, Carney engaged in talks with Industry Minister Sultan Ahmed al-Jaber before embarking on a tour of a grand mosque in Abu Dhabi. Subsequently, he held afternoon meetings with local sovereign wealth funds and investment firms such as Mubadala, MGX, ADQ, and ADIC, culminating in a dinner hosted by the U.A.E.’s national security adviser.
This visit occurred just a month after both countries inked a pact to enhance collaboration in artificial intelligence and data center initiatives. According to Janice Stein, the founding director of the Munk School of Global Affairs at the University of Toronto, the U.A.E. is emerging as a frontrunner in AI technologies and could offer Canada valuable support through investments and innovative endeavors. Stein highlighted the U.A.E.’s significant strides in adopting AI and the eagerness of government officials for Carney’s visit, emphasizing the strategic importance of the prime minister’s early engagement with the country.
Moreover, Stein lauded the U.A.E.’s utilization of low-cost energy to power data centers, drawing a parallel to Canadian firms’ aspirations to leverage Alberta’s oilsands. She predicted that the U.A.E. would evolve into a prominent player in the global AI economy. The U.A.E. has also secured assurances from U.S. President Donald Trump regarding access to cutting-edge American chip technology, despite reservations from certain U.S. officials concerning the extent of the Emirates’ collaboration with China.
Former Quebec premier Jean Charest, who co-chairs the Canada-U.A.E. Business Council, emphasized that signing the investment agreement is a prelude to a potentially straightforward trade pact between Canada and the U.A.E., facilitated by Carney’s visit. Charest underscored the existing substantial investments by U.A.E. entities in major Canadian infrastructure, signaling the U.A.E.’s ambition to position itself as the financial hub of the Gulf region.
Carney’s tour of the Sheikh Zayed Grand Mosque, featuring 82 domes and reputedly housing the world’s largest hand-knotted carpet, showcased the prime minister’s admiration for the global collaboration embodied in the mosque’s construction materials. Despite the media being barred from most of the bilateral meetings, Carney acknowledged the Emirati people’s ingenuity in crafting and sharing the mosque’s architectural marvel with humanity.
The limited media access during Carney’s visit coincides with mounting criticism directed at the U.A.E. over allegations of backing a militia involved in ethnic violence in Sudan. The civil war, which erupted in April 2023 between Sudan’s army and the Rapid Support Forces (RSF), has raised concerns due to the RSF’s documented acts of violence, including ethnic provocations.
Although the U.A.E. denies arming the RSF, a UN report has cited credible allegations suggesting otherwise. While Carney’s meeting with Sheikh Mohamed did not mention Sudan, the discussions touched on Palestine. Stein acknowledged the U.A.E.’s involvement in the Sudan conflict, contrasting Abu Dhabi’s recent peace efforts with the lack of similar initiatives from the opposing side in Sudan’s civil war.
Following his interactions with business leaders, Carney is scheduled to attend the G20 leaders’ summit in Johannesburg after concluding his visit to South Africa.