The Honourable Maninder Sidhu, Minister of International Trade, met with Khalid bin Abdulaziz Al-Falih, Minister of Investment of Saudi Arabia, during his visit to the Gulf region with a delegation of Canadian senior-level business leaders.
Minister Sidhu and Minister Al-Falih held substantive discussions on advancing Canada-Saudi Arabia industry and investment partnerships to support the two countries' trade diversification efforts. The talks emphasized Canada's goal of doubling its non-U.S. exports over the next decade, as well as opportunities for Canadian firms to contribute to projects under Saudi Arabia's Vision 2030.
Minister Sidhu welcomed the launch of negotiations for a foreign investment promotion and protection agreement and expressed Canada's desire to see these negotiations lead to the conclusion of a mutually beneficial agreement that strengthens the investment and commercial relationship between Canada and Saudi Arabia. Minister Sidhu also highlighted the recently expanded Canada-Saudi Arabia Air Transport Agreement as an opportunity to grow tourism.
