Canadian PM Mark Carney's Historic Visit to Saudi Arabia to Boost Energy and Mining Ties

Canadian Prime Minister Mark Carney visited Saudi Arabia on July 9, 2026, marking the first state visit in over 25 years. This visit comes as both nations seek to strengthen their partnerships in energy and mining amid changing global trade dynamics. Carney's trip follows the recent NATO summit in Turkiye and highlights Canada's efforts to diversify its trade relationships.

Strengthening Energy Ties Between Canada and Saudi Arabia

During his visit, Carney and Crown Prince Mohammed bin Salman signed 13 new agreements worth $1 billion, focusing on key sectors such as mining, energy, and artificial intelligence. These agreements are set to be finalized next year and aim to facilitate the development of clean energy projects in Saudi Arabia by Canadian companies.

Among the significant discussions was collaboration on liquefied natural gas, hydrogen, and carbon capture and storage. Carney emphasized the importance of these sectors for both nations' economic futures, stating, "Engaging with the country doesn’t mean that we agree with everything that a country is doing." This statement reflects a pragmatic approach to international relations.

Historical Context of Canada-Saudi Relations

The relationship between Canada and Saudi Arabia has been tumultuous, particularly during the tenure of former Prime Minister Justin Trudeau, who criticized Saudi Arabia's human rights record. The fallout from these criticisms included the expulsion of the Canadian ambassador and a significant reduction in trade ties in 2018.

However, diplomatic relations began to improve in 2023, paving the way for Carney's visit. His administration aims to restore and strengthen these ties, particularly in light of recent tariffs imposed by the United States on Canadian goods, which have impacted the Canadian economy.

Future Prospects and Investments in Saudi Arabia

As part of the agreements signed during this visit, Carney plans to lead a delegation of Canada’s pension funds to explore investment opportunities in Saudi Arabia's energy and AI sectors. This initiative is expected to open new avenues for Canadian businesses and enhance bilateral cooperation.

• 13 new agreements signed
• Value of agreements: $1 billion
• Focus areas: Mining, energy, AI
• Key discussions on LNG, hydrogen, carbon capture

Carney's commitment to engaging with key international partners underscores Canada's strategy to diversify its economic partnerships and reduce reliance on traditional allies.