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Released November 14, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land Texas)
Carney has spent much of the first year of his premiership dealing with bilateral trade headaches with the United States. Hinting at times at some sort of annexation, U.S. President Donald Trump has turned his ire toward Canada, suspending bilateral trade talks after a controversial ad on tariffs was backed by the leadership of Ontario.
Carney has vowed to halve the amount of U.S. trade. While in Abu Dhabi, the prime minister is expected to advocate for bilateral trade in energy and agriculture, working to increase the reach of Canadian trade to the Middle East.
At the G20 summit, Carney aims to expand trade in energy, building on gains made when Alberta hosted delegates from the G7 earlier this year.
"With our robust advantages in natural resources, agriculture, critical minerals, nuclear energy, and advanced technologies, the prime minister will meet with leaders across business and government and underscore opportunities to increase investment and trade with Canada," his office said on Wednesday.
Bilateral trade with the UAE was valued at US$2.4 billion last year, while South African trade was closer to $2.1 billion. Roughly US$600 billion worth of goods crossed the Canada-U.S. border last year.
"The UAE and South Africa represent two of the world's largest emerging markets, and the G20 encompasses 85% of the world's economy," Carney said in a statement. "Canada's new government is focused on creating high-paying careers at home--with new partners, new deals, and new investors to build in Canada and to build Canada strong."
From timber to crude oil, the export-dependent Canadian economy is tied largely to the United States. Carney, however, has already announced a new partnership with Germany on critical minerals. Delegates from Quebec-based Torngat Metals, a rare-earth specialist, and Germany's Vacuumschmelze (Hanau), a global leader in the production of rare-earth permanent magnets, were among those signing memoranda of understanding on research collaboration.
Torngat can produce around 3.5 million tons of rare-earth ore at its Strange Lake facility in Ontario.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports.
Canada's low-carbon steel, meanwhile, could find a home overseas, particularly as governments such as those in Europe look to impose extra duties on carbon-intensive imports.
Finding ways to expand trade in fossil fuels may be even more complex. Historically, only about 3% of Canadian crude oil makes its way outside of North America to the Netherlands, United Kingdom, Germany, Spain, France, Norway, Italy and Hong Kong. The rest went to the United States.
Canada wants more diversity. An expansion to the Trans Mountain crude oil pipeline to 880,000 barrels per day offers some options through exports from British Columbia, and Carney, a former central bank official, has advocated for an expanded midstream network. Canada's western shores are also primed for deliveries of liquified natural gas to Asia.
By the numbers
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Summary
Canadian Prime Minister Mark Carney hits the road next week for bilateral meetings in the UAE and the summit of the G20. From timber to energy, Canada is looking to halve its amount of U.S. trade. Canada has the potential to establish itself as a global trading powerhouse with its "robust" portfolio of critical minerals and natural resources, the prime minister said ahead of a meeting of the G20.Canada Touts its 'Robust' Trade Opportunities
Canadian Prime Minister Mark Carney leaves Tuesday for a bilateral meeting with leaders from the United Arab Emirates (UAE) and later for the summit of the Group of 20 (G20) advanced economies in South Africa.Carney has spent much of the first year of his premiership dealing with bilateral trade headaches with the United States. Hinting at times at some sort of annexation, U.S. President Donald Trump has turned his ire toward Canada, suspending bilateral trade talks after a controversial ad on tariffs was backed by the leadership of Ontario.
Carney has vowed to halve the amount of U.S. trade. While in Abu Dhabi, the prime minister is expected to advocate for bilateral trade in energy and agriculture, working to increase the reach of Canadian trade to the Middle East.
At the G20 summit, Carney aims to expand trade in energy, building on gains made when Alberta hosted delegates from the G7 earlier this year.
"With our robust advantages in natural resources, agriculture, critical minerals, nuclear energy, and advanced technologies, the prime minister will meet with leaders across business and government and underscore opportunities to increase investment and trade with Canada," his office said on Wednesday.
Canadian Trade is Largely Landlocked
Trade corridors could be an impediment given that North American supply chains are highly integrated. Canada is the top crude oil exporter to the U.S. economy by far, while a vehicle can cross multiple North American borders before leaving the assembly line.Bilateral trade with the UAE was valued at US$2.4 billion last year, while South African trade was closer to $2.1 billion. Roughly US$600 billion worth of goods crossed the Canada-U.S. border last year.
"The UAE and South Africa represent two of the world's largest emerging markets, and the G20 encompasses 85% of the world's economy," Carney said in a statement. "Canada's new government is focused on creating high-paying careers at home--with new partners, new deals, and new investors to build in Canada and to build Canada strong."
From timber to crude oil, the export-dependent Canadian economy is tied largely to the United States. Carney, however, has already announced a new partnership with Germany on critical minerals. Delegates from Quebec-based Torngat Metals, a rare-earth specialist, and Germany's Vacuumschmelze (Hanau), a global leader in the production of rare-earth permanent magnets, were among those signing memoranda of understanding on research collaboration.
Torngat can produce around 3.5 million tons of rare-earth ore at its Strange Lake facility in Ontario.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports.
Canada's low-carbon steel, meanwhile, could find a home overseas, particularly as governments such as those in Europe look to impose extra duties on carbon-intensive imports.
Finding ways to expand trade in fossil fuels may be even more complex. Historically, only about 3% of Canadian crude oil makes its way outside of North America to the Netherlands, United Kingdom, Germany, Spain, France, Norway, Italy and Hong Kong. The rest went to the United States.
Canada wants more diversity. An expansion to the Trans Mountain crude oil pipeline to 880,000 barrels per day offers some options through exports from British Columbia, and Carney, a former central bank official, has advocated for an expanded midstream network. Canada's western shores are also primed for deliveries of liquified natural gas to Asia.
By the numbers
- $2.4 billion in trade with UAE
- $2.1 billion in trade with South Africa
- 3% of Canadian crude exports leaves North America
- Carney working to expand trade opportunities overseas
- U.S. tariffs have sparked a trade diversification spree
- Much of the Canadian supply chains are linked to North America
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
