New Canada-UAE Partnership on the Horizon as Major Toronto Announcement Looms

By Tahani Elghazaly
Published July 24, 2026

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Canada and the United Arab Emirates are expected to unveil an important development in their growing economic partnership during a joint press conference in Toronto on Friday.

Canada’s Minister of International Trade, Maninder Sidhu, will appear alongside Dr. Thani bin Ahmed Al Zeyoudi, the UAE’s Minister of Foreign Trade, to provide what the Canadian government has described as an “important update” on trade negotiations between the two countries.

The press conference is scheduled for 2:45 p.m. Eastern Time on Friday, July 24, 2026, although officials have not disclosed the exact nature of the announcement. The participation of both trade ministers suggests that the update could mark a significant step in negotiations toward a Canada-UAE Comprehensive Economic Partnership Agreement, known as CEPA.

Canada and the UAE announced their intention to negotiate the agreement in November 2025. The proposed deal is intended to reduce tariffs and regulatory barriers, improve access to supply chains and create new opportunities for Canadian businesses, workers and exporters in the UAE market. The negotiations remain officially underway.

The UAE has become one of Canada’s most important economic partners in the Middle East. Two-way merchandise trade reached approximately C$3.5 billion in 2025, including C$2.8 billion in Canadian exports and C$670.2 million in imports. More than 150 Canadian companies currently maintain operations in the UAE.

Economic ties strengthened further after the Canada-UAE Foreign Investment Promotion and Protection Agreement entered into force on May 19, 2026. The agreement provides clearer rules and greater protection for investors from both countries, while creating a more predictable environment for bilateral investment.

During Prime Minister Mark Carney’s visit to Abu Dhabi in November 2025, the UAE also announced a commitment to invest C$70 billion, equivalent to approximately US$50 billion, in Canada. Ottawa described the commitment as a major vote of confidence in the Canadian economy, with potential investments spanning energy, infrastructure, critical minerals, artificial intelligence and data infrastructure.

Canada has previously said that a comprehensive economic agreement could help expand bilateral trade to approximately C$7 billion over the next decade. Friday’s Toronto announcement may therefore provide the clearest indication yet of how quickly the two governments intend to turn their broader strategic commitments into concrete trade and investment opportunities