Prime Minister Mark Carney says Qatar has committed to “significant” investments for Canada’s major constructing projects, calling it a “latest chapter” in bilateral relations.
Carney made the announcement Sunday following his meeting with Sheikh Tamim bin Hamad Al Thani, the Emir of Qatar.
The brand new measures will include the finalization of the Investment Promotion and Protection Agreement with Qatar, a deal that has seen years of stalled negotiations, Carney said.
“We’re raising our relationship and our level of alignment by making friends with strategic partners,” Carney said. “To launch this latest chapter in our relationship, I’m pleased to announce that Qatar has committed to make significant strategic investments in Canada’s nation-building projects.
“This capital will help the projects get built faster and supercharge our energy industries, while helping to create 1000’s of high-paying careers for Canadians.”
He also said the brand new agreement will help Canadian businesses to “more easily” expand operations in Qatar in addition to attract investment from the country.
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In keeping with a readout from the Prime Minister’s Office, air services between Canada and Qatar may also be expanded and a defence attache from Canada will probably be posted within the country.
In keeping with the PMO, the 2 countries have agreed to launch negotiations on a brand new framework focused on military, security and defence matters, and expand investment opportunities on areas akin to AI.
The PMO said the 2 leaders agreed to remain in contact and Carney noted Sunday he had invited the Emir to go to Canada later this 12 months and attend the World Cup match between their two countries with him.
The plans with Qatar are Carney’s latest in a slew of agreements and travel to other countries to debate trade deals since his election last 12 months.
Asked about his ongoing efforts to satisfy with countries involved in trade, Carney told reporters that multilateral relationships are “being eroded.”
“The consequence of that’s there may be a discount in freer trade, way more trade is tariff-based or otherwise restricted and there may be virtually no, with all due respect to those that try, virtually no multilateral progress,” Carney said.
“Where there may be progress, and where Canada and like-minded countries want to make progress, is thru pluriality deals… which is multiple countries but not all countries.”
On Friday, Canada announced that 49,000 Chinese-made electric vehicles (EVs) would soon be imported every year with a lowered 6.1 per cent tariff after Carney struck a cope with Chinese President Xi Jinping.
Carney added on Sunday that Xi showed interest in expanding China’s trade relations with other countries, and that’s why Canada is establishing trade deals with other countries, akin to Qatar.
“On this more uncertain and dangerous world, we’ve chosen to create greater stability, security and prosperity together,” Carney said.
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