Canadian Prime Minister Mark Carney has made a landmark official visit to Saudi Arabia, the first by a Canadian leader in more than 25 years, as both countries move to strengthen cooperation in energy, mining, clean technology and artificial intelligence.
During talks with Saudi Crown Prince Mohammed bin Salman in Jeddah, the two nations signed 13 agreements and memorandums of understanding (MoUs) valued at approximately $1 billion. The deals cover sectors including mining, energy, defence, healthcare and technology.
Several of the agreements are expected to support Canadian companies investing in Saudi Arabia's mining industry and clean energy projects. The two countries are also working on future partnerships involving liquefied natural gas (LNG), hydrogen, carbon capture and storage, with final agreements expected next year.
Carney also met with Saudi Aramco President and CEO Amin Nasser and announced plans to lead a delegation of Canadian pension funds to explore investment opportunities in Saudi Arabia's expanding energy and artificial intelligence sectors.
The visit marks a significant step in rebuilding relations after diplomatic tensions in 2018, when Saudi Arabia suspended trade and expelled Canada's ambassador following criticism by then-Prime Minister Justin Trudeau over Saudi Arabia's human rights record. Diplomatic ties between the two countries were restored in 2023.
Speaking to reporters, Carney defended Canada's renewed engagement with Saudi Arabia, saying that maintaining dialogue with key global partners does not mean agreeing with every policy they pursue.
He also declined to provide details on ongoing trade negotiations with the United States, saying he would update the public when there is progress.
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