Canadian PM visits Saudi Arabia to strengthen energy, mining partnerships

Canadian Prime Minister Mark Carney visited Saudi Arabia on Thursday, marking the first state visit in more than a quarter-century. The trip came just after the NATO summit in Turkey, as Carney pushes to diversify trade relationships amid US President Donald Trump’s tariffs that have weighed on Canada’s economy.

Carney and Saudi Crown Prince Mohammed bin Salman signed 13 new agreements and memorandums of understanding (MoUs) worth $1 billion, covering areas including health, defense, mining, and energy. The deals are expected to help Canadian companies develop mining and clean energy projects in Saudi Arabia. Agreements on mining, energy, and artificial intelligence are scheduled to be finalized next year.

During his visit, Carney also met with Amin Nasser, the head of state oil giant Saudi Aramco. The two countries are working on agreements related to liquefied natural gas, hydrogen, and carbon capture and storage. Carney’s office said he would lead a delegation of Canada’s pension funds to invest in Saudi Arabia’s energy and AI sectors.

Relations between Ottawa and Riyadh had been strained under former Prime Minister Justin Trudeau, who criticized Saudi Arabia’s treatment of human rights activists. In response, Saudi Arabia expelled the Canadian ambassador and cut trade and investment ties in 2018. Diplomatic ties were restored in 2023.

When asked about re-engaging with Saudi Arabia, Carney said: “Engaging with the country doesn’t mean that we agree with everything that a country is doing. Lecturing countries from afar is an ineffective strategy. It’s satisfying, but it’s ineffective.” On ongoing trade negotiations with the US, he replied: “I’ll keep you posted.”