ABU DHABI, Nov. 21 (Xinhua) -- The United Arab Emirates (UAE) has approved a major investment framework with Canada, paving the way for up to 50 billion U.S. dollars in investment across key Canadian sectors, according to an official announcement released by the Emirates News Agency on Friday.
Under the framework, the UAE will channel long-term investments into Canada's strategic industries, including energy, artificial intelligence, logistics, and mining, as well as other advanced sectors considered central to Canada's future economic growth.
The agreement follows talks held in Abu Dhabi between UAE President Sheikh Mohamed bin Zayed Al Nahyan and Canadian Prime Minister Mark Carney, during which both leaders emphasized the importance of boosting economic cooperation and facilitating cross-border investment.
The UAE's foreign direct investment stock in Canada reached 8.8 billion dollars in 2024, while Canadian investment into the UAE totaled 242 million dollars in the same year, according to the announcement.
