Prime Minister Carney Visits Qatar to Strengthen Investment Ties

Prime Minister Mark Carney has embarked on a significant two-day visit to Qatar aimed at enhancing bilateral relations and attracting Canadian business investment. This trip marks the first occasion a sitting Canadian prime minister has traveled to the Gulf nation. During his time in Qatar, Carney will engage with key business and government leaders to foster deeper ties, particularly in light of Qatar’s growing influence in diplomatic and security matters.

Officials have indicated that the purpose of Carney’s visit is to fortify connections with what they describe as an increasingly important ally. Over recent years, Qatar has established a more prominent diplomatic role, mediating discussions between Israel and Hamas, assisting in the reunification of Ukrainian children, and facilitating dialogue in various international conflicts, including those involving Rwanda and the Democratic Republic of Congo as well as Venezuela and Washington. Despite these diplomatic efforts, Human Rights Watch has raised concerns regarding Qatar’s human rights record, citing issues such as forced labor and restrictions on free expression.

Carney’s visit aligns with his broader strategy since taking office to diversify Canada’s trading partners and attract foreign investment. Canadian officials believe that Qatar, endowed with significant natural gas wealth, shares common values and interests with Canada in sectors such as artificial intelligence, renewable energy, and clean technology.

Finance Minister François-Philippe Champagne emphasized the importance of this trip, stating that Carney aims to forge a strategic partnership that could lead to sustained engagement. “We need partners. We need investors, and this is what this trip is all about,” Champagne remarked from Doha. He noted that discussions with Qatari officials indicated a strong interest in investing in Canada, and a potential Foreign Investment Protection Agreement (FIPA) could provide assurances to investors regarding the security of their capital.

As of 2024, trade between Canada and Qatar amounted to $325 million, with Canadian exports valued at $159 million. Carney’s agenda includes meetings with the Qatar Investment Agency and a luncheon at the country’s bureaucratic headquarters, where he will also have a bilateral discussion with the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani. Anticipated announcements during this visit may encompass cultural exchanges and enhanced cooperation in diplomatic and security sectors.

This visit follows Carney’s recent meeting with Chinese President Xi Jinping, which established the framework for a new five-pillar strategic partnership between Canada and China. That agreement, which includes commitments in finance, agriculture, and trade, also resulted in a significant reduction of tariffs on Canadian agricultural products in exchange for lowered tariffs on Chinese electric vehicles.

Industry leaders, including Goldy Hyder of the Business Council of Canada, view the visits to Qatar and China as complementary components of the government’s diversification strategy. “On one hand, there is an export strategy. We want to sell more of what we have to the world, and one of the largest consumers is China,” Hyder noted. “On the other hand, we need investment into our country to build the trade-enabling infrastructure necessary to support our export objectives.”

With these strategic engagements, Carney aims to bolster Canada’s position on the global stage, ensuring that the nation remains competitive while fostering valuable international partnerships.