Prime Minister Mark Carney has concluded a landmark visit to Saudi Arabia aimed at significantly expanding bilateral ties across trade, investment, artificial intelligence, energy, critical minerals, education, health technology and defence.
The visit to Jeddah marked the first by a Canadian prime minister to Saudi Arabia in 26 years and came as Ottawa seeks to diversify its international trade relationships and strengthen economic ties beyond the United States.
Carney met with Saudi Crown Prince and Prime Minister Mohammed bin Salman, with the two leaders issuing a joint statement outlining commitments to deepen cooperation across several strategic sectors.
During the visit, Canada and Saudi Arabia signed 13 commercial agreements and memorandums of understanding worth more than $1 billion. The agreements span health technology, mining, infrastructure and defence and are expected to create new opportunities for Canadian businesses.
Canadian companies are expected to support Saudi projects involving mining, critical minerals and clean energy, while infrastructure firms could participate in major Vision 2030 developments, including roads and rail lines. Canadian health technology companies will also have opportunities to deploy patient-monitoring, clinical decision-support and surgical intelligence technologies.
The two countries also agreed to expand collaboration in energy and artificial intelligence. An energy MOU is intended to attract investment, expand trade and strengthen cooperation in liquefied natural gas, renewable energy, hydrogen, and carbon capture and storage. A separate agreement will advance cooperation in the development, deployment and commercialisation of artificial intelligence.
Canada and Saudi Arabia also committed to finalising an MOU on defence cooperation. Ottawa will establish a resident Defence Attaché presence in Riyadh to deepen bilateral security engagement and support Canadian defence exports.
Among the major commercial developments announced during the visit, Canadian AI company Cohere and Saudi Arabia’s HUMAIN unveiled a strategic AI computing partnership. HUMAIN will designate at least 50 megawatts of dedicated computing capacity to support Cohere’s next-generation foundation models and the development of sovereign AI systems.
BlackBerry and Aramco Digital have also begun discussions on potential collaboration involving secure communications and next-generation industrial technology in Saudi Arabia.
Carney announced that Canada will lead a delegation of Canadian pension funds to Saudi Arabia to explore long-term investment opportunities, particularly in energy and AI. Canada will also participate in Expo 2030 in Riyadh and establish a national pavilion at the World Defence Show in the Saudi capital in January 2028.
Education will also form a key part of the expanding relationship. Canada plans to advance partnerships between Canadian and Saudi educational institutions to support the professional development of early childhood and English-language educators. Canadian colleges are also expected to help train Saudi workers in construction, skilled trades, medicine and technology.
The two leaders announced plans to conclude negotiations on a Foreign Investment Promotion and Protection Agreement by early 2027. Negotiations have also begun on a new double-taxation agreement designed to make it easier for individuals and businesses from both countries to work and invest across the two markets.
A new foreign minister-level Canada-Saudi Arabia Coordination Council will also be established to guide cooperation across key bilateral priorities.
Saudi Arabia is Canada’s second-largest trading partner in the Middle East and has a $1.8 trillion economy. Its sovereign wealth fund, valued at more than $1 trillion, is a central driver of Vision 2030, the kingdom’s effort to diversify its economy beyond oil and gas.
“Canada and Saudi Arabia have both embarked on ambitious new missions to transform their economies,” Carney said. “We are harnessing each other’s strengths across minerals and mining, technology, energy, and commerce.”
Foreign Affairs Minister Anita Anand described the visit as a “new chapter” in bilateral relations, highlighting opportunities to diversify trade, strengthen energy cooperation and expand people-to-people ties.
Regional security was also discussed during the visit. Canada and Saudi Arabia condemned Iranian attacks on commercial vessels in the Strait of Hormuz on July 7, saying the incidents heightened regional tensions and threatened diplomatic efforts aimed at promoting stability.
Canada said it is prepared, when conditions permit, to support the Multinational Military Maritime Mission through maritime logistics, cyber support, demining expertise and satellite imagery.
The Saudi Arabia visit followed Carney’s participation in the 2026 NATO Summit in Ankara, Türkiye, where Canada selected Thyssenkrupp Marine Systems as the preferred supplier for negotiations to acquire up to 12 new submarines and welcomed the launch of negotiations toward a comprehensive Canada-Türkiye free trade agreement.
The expanded relationship with Saudi Arabia builds on International Trade Minister Maninder Sidhu’s January 2026 visit to the kingdom, during which approximately $600 million in commercial partnership agreements were announced.
The federal government said the deepening Canada-Saudi Arabia partnership is part of its broader strategy to expand non-U.S. exports, attract international investment and strengthen Canada’s position in strategic industries, including energy, artificial intelligence, critical minerals and advanced technology.
