Canada, UAE boost trade network under new deal

Prime Minister Mark Carney is seeking to offset the strain in the trade relationship with the US. Even as the disruption of the Strait of Hormuz rankles supply chains, the UAE is still pitching itself as a trade gateway connecting Asia, Africa, and Europe. Its trade pact with Canada, signed Tuesday, is expected to boost exports to the emirates in aerospace, cereals, machinery, and vehicles. UAE Foreign Trade Minister Thani bin Ahmed Al Zeyoudi told Semafor that the UAE’s “strategic location and our growing network of [Comprehensive Economic Partnership Agreement] partners offer Canadian exporters and investors a pro-business platform for seamless access to some of the world’s fastest-growing economies.” Bilateral non-oil trade rose about 20% in 2025 to $4.2 billion, and the UAE pledged to invest $50 billion in Canada last November. UAE money is already widely evident: Nova Chemicals in Calgary is now part of Borouge International, co-owned by Abu Dhabi’s XRG, and DP World operates terminals in the Port of Vancouver. The pact could foster “new industrial capabilities … and new infrastructure projects,” Al Zeyoudi said. Canada has been an eager commercial partner under Prime Minister