Published on 15 September 2026 in Client Alerts

Canada and Saudi Arabia Signed MoUs to Deepen Bilateral Relationship

From 8 to 10 July 2026, Canadian Prime Minister Mark Carney and Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud met in Jeddah to discuss bilateral relations and regional developments.  The visit yielded the signing of 13 new Memorandum of Understandings (MOUs) and commercial agreements across trade, investment, energy, mining and natural resources, technology, education, health, people-to-people ties, and defence. 

Key outcomes of the visit included: 

• Establishment of a Canada–Saudi Arabia Coordination Council, led by Foreign Ministers of both countries, to advance cooperation across political, security and defence, economic, trade and investment, cultural, educational, scientific, and consular priorities. 
• Signing of an energy MoU to attract investment in major projects, expand trade, and strengthen cooperation on liquefied natural gas (LNG), renewable energy, hydrogen, and carbon capture and storage. 
• Signing of a MoU on artificial intelligence (AI) to advance collaboration in AI development, deployment, and commercialisation. 
• Commitment by both countries to conclude a MoU on defence cooperation.  Canada has also confirmed that it will establish a resident Defence Attaché presence in Riyadh to deepen bilateral defence engagements and support exports from Canada’s defence sector. 

The Prime Minister and the Crown Prince further announced that negotiations for a Foreign Investment Promotion and Protection Agreement (FIPA) are expected to conclude by early 2027.  In addition, the two countries launched negotiations for a new double-taxation agreement aimed at facilitating investment and employment opportunities between the two countries. 

For further information, please contact info@volterrafietta.com.