Minister Sidhu strengthens Canada’s economic relationship with Saudi Arabia
News release
November 6, 2025 - Ottawa, Ontario - Global Affairs Canada
On Monday, the Honourable Maninder Sidhu, Minister of International Trade, welcomed Khalid Al-Falih, Saudi Arabia’s Minister of Investment, and a delegation of government officials and business executives to Ottawa.
As Canada is strengthening its economic ties with partners around the world, Minister Sidhu and Minister Al-Falih took this opportunity to announce the launch of negotiations for a Foreign Investment and Protection Agreement between Canada and Saudi Arabia. They also announced the reactivation of the Joint Economic Commission, a treaty-based mechanism to promote trade and economic initiatives of mutual benefit. Finally, Minister Sidhu and Minister Al-Falih welcomed the October 23 signing of a memorandum of understanding between Export Development Canada and the Saudi EXIM Bank.
This increased partnership between Canada and Saudi Arabia will boost business opportunities, increase bilateral trade and unlock export opportunities and investments in Canadian and Saudi Arabian companies alike.
During a bilateral meeting, Minister Sidhu and Minister Al-Falih discussed future strategic sector partnerships between Canadian and Saudi Arabian companies, including in the areas of artificial intelligence and frontier technologies, healthcare, infrastructure, mining, defence, and creative industries.
The ministers also met with business leaders and industry stakeholders, participated in a business round table with Invest in Canada and focused on deepening Canada-Saudi relations by highlighting commercial success stories between Canadian and Saudi companies.
Quotes
“Saudi Arabia is an important market for Canada as our largest bilateral merchandise trading partner in the Middle East. We’re committed to advancing economic cooperation and mutually beneficial investment opportunities to foster greater commercial prosperity for Canadians and Saudis. I look forward to strengthening the relationship between our two countries and promoting continued cooperation for our businesses, industries and workers.”
- Maninder Sidhu, Minister of International Trade
Quick facts
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In 2024, Saudi Arabia was Canada’s largest merchandise trading partner in the Middle East.
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Two-way merchandise trade between Canada and Saudi Arabia in 2024 was valued at approximately $4.1 billion: $2 billion worth of exports from Canada and $2.1 billion worth of imports to Canada.
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Top Canadian exports to Saudi Arabia included defence products, aircraft, motor vehicles and parts, pharmaceuticals, as well as industrial machinery and equipment.
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Over 150 Canadian companies are active in Saudi Arabia, offering competitive solutions in artificial intelligence and frontier technology, healthcare, infrastructure, mining, defence products, and creative industries.
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Contacts
Huzaif Qaisar
Director of Communications
Office of the Minister of International Trade
343-575-8816
Huzaif.Qaisar@international.gc.ca
Media Relations Office
Global Affairs Canada
media@international.gc.ca
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