diversify trade relationships<\/a> as United States President Donald Trump imposed tariffs that have weighed on the Canadian economy. The visit included agreements covering mining, energy and artificial intelligence, which Carney\u2019s office said would be finalised next year.<\/p>\nRecommended Stories list of 4 itemsend of list<\/p>\n
The two countries signed 13 new agreements and memorandums of understanding (MoUs) covering areas including health and defence. The agreements are worth $1bn.<\/p>\n
Among the deals are agreements that would help Canadian companies develop mining and clean energy projects in Saudi Arabia.<\/p>\n
During his visit, Carney also met with Amin Nasser, head of state oil giant Saudi Aramco. On energy, Carney\u2019s office said the two countries are working together on agreements related to liquefied natural gas, hydrogen and carbon capture and storage.<\/p>\n
Carney\u2019s office also said he would lead \u201ca delegation of Canada\u2019s pension funds\u201d as part of efforts to invest in Saudi Arabia\u2019s energy and AI sectors.<\/p>\n
In talks with Saudi Crown Prince Mohammed bin Salman, Carney signed agreements aimed at expanding several key partnerships between the two nations following years of strained relations under former Prime Minister Justin Trudeau.<\/p>\n
Trudeau, Carney\u2019s predecessor, had been critical of Saudi Arabia\u2019s treatment of human rights activists, including Saudi writer Raif Badawi and his sister, Samar. In response, Saudi Arabia expelled the Canadian ambassador and cut trade and investment ties in 2018.<\/p>\n
Ottawa and Riyadh began restoring diplomatic ties in 2023.<\/p>\n
Carney was asked by reporters about the decision to re-engage with Saudi Arabia, to which he responded:<\/p>\n
\u201cEngaging with the country doesn\u2019t mean that we agree with everything that a country is doing.\u201d<\/p>\n
\u201cWe are actively engaging with key partners around the world,\u201d Carney said.<\/p>\n
\u201cLecturing countries from afar is an ineffective strategy. It\u2019s satisfying, but it\u2019s ineffective.\u201d<\/p>\n
Carney was also asked about ongoing negotiations with the United States. Reporters pressed him on whether there had been any progress in trade negotiations with Trump amid tensions surrounding the North American Free Trade Agreement.<\/p>\n
\u201cI\u2019ll keep you posted,\u201d Carney said.<\/p>\n","protected":false},"excerpt":{"rendered":"Carney and Saudi Crown Prince Bin Salman strengthen partnerships after years of strained relations under Trudeau. Published On…\n","protected":false},"author":2,"featured_media":791405,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1686,49,48,46,84,1687,1259,44,32557,714,13341,8143,61,1690],"class_list":["post-791404","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-business-and-economy","tag-ca","tag-canada","tag-economy","tag-health","tag-international-trade","tag-middle-east","tag-news","tag-oil-and-gas","tag-politics","tag-saudi-arabia","tag-science-and-technology","tag-technology","tag-us-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/791404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=791404"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/791404\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/791405"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=791404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=791404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=791404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/07\/1783633812_928_2017-06-08T131939Z_1189275883_RC11B0FE7F20_RTRMADP_3_GULF-QATAR-JAZEERA-1714943623.jpg\")
<\/a><\/p>\n