Jeddah: A joint statement was issued at the conclusion of the official visit of Prime Minister of Canada Mark Carney to the Kingdom. The statement emphasized the commitment of both nations to enhance their bilateral ties, focusing on trade, investment, innovation, and regional security. The visit, at the invitation of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, took place from July 8-10, 2026.
According to Saudi Press Agency, the two countries have agreed to establish a Canada-Saudi Arabia Coordination Council, led by their foreign ministers, to bolster cooperation across various sectors, including political, security, economic, trade and investment, cultural, educational, scientific, and consular priorities. The launch of a Joint Working Document was also welcomed, serving as a roadmap for strengthening cooperation across strategic sectors.
In terms of trade and investment, both sides highlighted the potential for increased economic ties, noting that bilateral trade has surpassed 20 billion USD since 2020. They agreed on the importance of promoting two-way investment and enhancing cooperation between financial institutions. The announcement of commercial and investment agreements during the Saudi Arabia-Canada Investment Forum further illustrated the economic opportunities available.
The two nations also signed a Memorandum of Understanding on Energy Cooperation, focusing on conventional and clean energy projects. This includes liquefied natural gas projects in Canada and renewable energy initiatives. Additionally, a Memorandum of Understanding on mining and mineral resources was formalized, showcasing the potential for collaboration in exploration and processing technologies.
In the realm of technology, education, and health, an MoU on Artificial Intelligence Investment and Skills Development was signed. This agreement aims to foster cooperation in areas such as joint investment opportunities, technical collaboration, and skills development. The statement also highlighted future opportunities to expand collaboration in public health and medical technologies.
Furthermore, the two sides reaffirmed their commitment to international cooperation, supporting global economic stability and growth. Canada expressed its support for Saudi Arabia's desire to host the G20 summit in 2030.
The statement also underscored people-to-people ties, with both countries highlighting the FIFA World Cup and the recent expansion of the Air Transport Agreement as platforms for collaboration and exchange.
In defense and regional security, the two nations committed to enhancing cooperation in defense and cybersecurity. They condemned recent attacks on commercial vessels in the Strait of Hormuz and underscored the importance of restoring safe navigation in the region.
The statement addressed regional issues, emphasizing the importance of humanitarian assistance and peace efforts in Palestine, Yemen, and Sudan. Both sides reiterated their support for a two-state solution for Palestine and a political solution to the Yemeni crisis.
At the conclusion of the visit, Prime Minister Carney expressed gratitude for the warm hospitality extended by HRH the Crown Prince, who in turn wished for continued prosperity and progress for Canada.
