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Canadian Prime Minister Mark Carney has announced that Canada will receive ‘significant' financial investments from Qatar, calling it a ‘new chapter' in the nation's relationship. According to Carney, Qatar will be investing in major Canadian building projects. Carney made the announcement on January 18, after a meeting with Sheikh Tamim bin Hamad Al Thani, the Emir of Qatar. The agreement will finalize the Investment Promotion and Protection Agreement with Qatar – a deal that has been in the works for several years but has yet to come to fruition.
During his statement, Carney claimed that the agreement would mark an alignment of Canada and Qatar as friends and strategic partners as countries work to become less reliant on the U.S. According to Carney, Qatar will be funding major developments in the Canadian energy sector, and that the capital from Qatar would create thousands of high-paying careers for Canadians. He added that the agreement would also streamline the process for Canadian businesses to expand into Qatar.
Details of the agreement
According to Carney, the agreement deepens Canada's relationship with Qatar across the board. Air services between Canada and Qatar will be expanded, and a Canadian defence attaché will be posted in the country. The two nations will also reportedly be working together to further defence, security, and military relationships, including a focus on AI developments. Since his election in 2025, Carney has been laser-focused on strengthening Canada's relationship with Qatar, a nation he clearly sees as having serious potential. With global trade in turmoil because of Donald Trump's tariffs, Carney made it clear in his January 18 interview that Canada is seeking a diverse set of deals with various countries, and that he would be willing to work with the countries needed to further the Canadian economy.
This deal with Qatar comes just a week after Carney announced a massive deal with China to import nearly 50,000 Chinese EV's with a slashed tariff rate of 6.1%. The deal drew criticism from those hesitant to have Canada deal with China, an argument made about Qatar as well. Qatar operates under Sharia law, according to Islam, meaning the nation's laws on homosexuality and certain human rights are different than Canada's. While trading with a country whose values differ from Canada's clearly is not a problem with Carney, it is a problem for some Canadians, with Carney's Liberals receiving criticism over both the China and Qatar deals.
On the point of culture, Carney is promoting curiosity, not judgement, claiming that when two nations start to understand each other's cultures, they start to trust each other, and are able to ‘build more together'. Carney was given an official welcoming ceremony upon his arrival in Qatar, and after the meeting, extended a formal invitation to the Emir of Qatar to visit Canada in the near future. The Prime Minister thanked the Emir for his hospitality in a statement released after the meeting. Carney has been on a nine-day trip focused on expanding Canada's foreign relationships and continuing to diversify Canada's traditional trade supply lines away from American reliance. Carney's trip will end in Davos, Switzerland, for the World Economic Forum.
