Carney Signs 13 Saudi Deals Worth $1 Billion as Canada Pushes Trade Beyond US

3 articles · Updated · Al Jazeera English · Jul 9

$1 billion in agreements and MoUs were signed during Mark Carney’s Saudi visit, covering mining, energy, AI, health and defence in Canada’s first prime ministerial state visit there in more than 25 years.
The push is tied to Ottawa’s effort to diversify trade after Donald Trump’s tariffs weighed on the Canadian economy, with Carney saying Canada is actively engaging key partners rather than “lecturing countries from afar.”
Energy talks centered on LNG, hydrogen and carbon capture, while mining and clean-energy deals are meant to help Canadian companies develop projects in Saudi Arabia; Carney also met Saudi Aramco chief Amin Nasser.
The visit marks a further reset after Saudi Arabia expelled Canada’s ambassador and cut trade and investment ties in 2018 over Justin Trudeau’s criticism of human rights cases; diplomatic ties began recovering in 2023.

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10 Sources

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Canada and Saudi Arabia Sign C$1 Billion in Deals at Historic 2026 Summit: Trade, AI, and Strategic Reset

Overview

On July 9, 2026, Canadian Prime Minister Mark Carney made a historic visit to Jeddah, marking the first Canadian prime ministerial visit to Saudi Arabia in 26 years. This visit followed the full reinstatement of diplomatic relations in 2023 after a five-year rift over human rights concerns. Carney held extensive talks with Crown Prince Mohammed bin Salman, launching the next phase of building up bilateral ties. Their discussions covered a wide range of cooperation opportunities and regional developments, signaling a significant improvement in relations and setting the stage for new economic and strategic partnerships between the two countries.

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