Prime Minister Mark Carney signed a deal to deepen economic and defence ties with Saudi Arabia’s crown prince during his visit to the Middle Eastern country on July 9.
The Prime Minister’s Office (PMO) said Carney and Saudi Arabian Prime Minister and Crown Prince Mohammed bin Salman signed a memorandum of understanding (MOU) in Jeddah to establish the Canada-Saudi Arabia Coordination Council, aiming to strengthen cooperation on defence, trade and investment, cultural, and scientific priorities.
The two leaders noted that bilateral trade has reached more than US$20 billion since 2020, and they agreed to promote two-way investment, increase trade in products other than oil, and strengthen cooperation between financial institutions. They also agreed to launch negotiations for a Double Taxation Agreement, which would prevent the same income or asset from being taxed by both countries….