The UAE is strengthening economic ties to Canada as Dubai ports giant DP World moves forward on a potential deal to link its global logistics network to Manitoba’s Port of Churchill on Hudson Bay. The partnership agreement would explore linking Churchill and its railway to DP World’s global network. The project could ultimately form a gateway to transport Canadian resources like liquefied natural gas, grain, and critical minerals to customers in the Middle East and Europe, Bloomberg reported.
The project, costing an estimated $57 billion, comes only months after Prime Minister Mark Carney’s flagship investment agency delivered what the Financial Times described as a “blunt message” to UAE officials looking to pour billions of dollars into Canada: “We have nowhere to put your money.” That appears to be changing. Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed has arrived in Ottawa, with a freshly agreed comprehensive trade pact, and a $50 billion investment commitment from the UAE.
— Kelsey Warner