Economic cooperation is a cornerstone of the bilateral relationship between the United Arab Emirates and Canada, spanning a range of priority sectors, including energy, infrastructure, clean technologies, food security, artificial intelligence, innovation, aviation, logistics, and advanced technologies.
The United Arab Emirates is Canada's largest export market in the Middle East and North Africa. In 2025, bilateral merchandise trade reached CAD 3.5 billion. The same year marked a significant milestone in the economic relationship when, in November, the United Arab Emirates announced its intention to invest CAD 70 billion in the Canadian market. The announcement was widely welcomed in Canada as a reflection of the growing depth of UAE investment and increasing confidence in the Canadian economy. Coinciding with this announcement, the two countries signed the Foreign Investment Promotion and Protection Agreement, which entered into force on May 19, 2026. The Agreement provides a robust institutional framework for bilateral investment by enhancing investor confidence and fostering a more transparent, predictable, and stable investment environment.
The United Arab Emirates is also among the leading investors in Canada, with investments estimated at approximately USD 30 billion across a diverse range of sectors. Nearly two-thirds of these investments are concentrated in the oil and natural gas sector, led by the Abu Dhabi National Energy Company (TAQA). At the same time, many leading Canadian companies have maintained a longstanding presence in the United Arab Emirates, investing billions of dollars across key sectors, including energy, manufacturing, agri-food industries, healthcare, education, financial services, and tourism.
Growing partnerships in civil aviation continue to further strengthen economic ties between the two countries. This includes the expansion of the codeshare agreement between Emirates and Air Canada, providing travelers with greater connectivity across both airlines' global networks. In addition, Etihad Airways continues to operate direct services between Abu Dhabi and Toronto and has announced the launch of a new route connecting Abu Dhabi with Calgary, scheduled to commence operations in November 2026. These developments are expected to further facilitate travel, trade, investment, and commercial exchange between the United Arab Emirates and Canada.
