Today in Abu Dhabi, the Canadian-UAE Investment Summit was held, hosted by the Canada-UAE Business Council in partnership with ADNOC and XRG. The event was attended by government officials, institutional investors, and leaders from the private sector in both friendly nations. The summit confirmed the shared ambition of the United Arab Emirates and Canada to boost strategic investments and accelerate cooperation in priority sectors. The summit was attended by Canadian Prime Minister Mark Carney, UAE Minister of Industry and Advanced Technology, Board Member and CEO of ADNOC and its group of companies, Executive Chairman of XRG Dr. Sultan Ahmed Al Jaber; Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi, and Mohamed Hassan Al Suwaidi, Board Member and CEO of the ADQ investment holding company. Discussions focused on the importance of stimulating institutional and alternative capital, enhancing national investment priorities, and expanding cooperation in sectors such as energy, technology, infrastructure, and artificial intelligence. Mesbah Al Kaabi, CEO of Exploration, Development and Production at ADNOC and Co-Chair of the Canada-UAE Business Council, in his opening speech emphasized the resilience and vitality of the investment relationship between the two countries. He explained that the ongoing collaboration between Emirati and Canadian institutions to open new horizons for investment and innovation continues, and with the bilateral investment partnership between Canada and the UAE exceeding AED 260 billion, the shared ambition of the two nations has grown even greater. By enhancing their cooperation, they can accelerate the development of innovative solutions in energy, technology, and infrastructure, which will contribute to creating and enhancing long-term value for our economies and support the next phase of growth and prosperity. The summit highlighted the recently signed Agreement on the Promotion and Reciprocal Protection of Investments between Canada and the UAE, aimed at boosting investor confidence and facilitating capital flows between the two nations. Dr. Thani bin Ahmed Al Zeyoudi praised the depth of the trade partnership between the two sides, noting that the current volume of trade exchange has reached CAD 3.4 billion. Leading institutions and companies participated in the summit, including Mubadala Investment, ADQ, E&, Power Sustainable, TD Securities, Inovia Capital, Mila, TELUS Digital, Space42, and the Technology Innovation Institute, which showcased their visions for innovation ecosystems and promising opportunities. Their participation in today's sessions focused on topics such as stimulating institutional capital, alternative investments, enhancing AI-enabled competitiveness, as well as practical pathways for joint investment, technology development, and strengthening cooperation between Canada and the UAE. The summit featured a series of high-level bilateral announcements and partnership signings across various sectors, reaffirming Canada and the UAE's commitment to driving sustainable growth and deepening cooperation between the two parties in the technology sector. For instance, Invest in Canada and the Ministry of Investment signed a cooperation agreement on investment, while BlackBerry and the UAE Government's Cybersecurity Council signed a partnership in cybersecurity and secure communications. Additionally, the Mila Institute and the Technology Innovation Institute signed a strategic partnership to foster innovation in artificial intelligence. In his closing remarks, Jean Charrest, Partner at Therrien Couture Joli-Coeur and Co-Chair of the Canada-UAE Business Council, confirmed that the summit renewed the shared commitment to continue strengthening the economic and investment partnership between Canada and the UAE, driving innovation, and providing new opportunities for sustainable long-term growth and prosperity for the two friendly nations.
