Saudi Arabia and Canada strongly condemned on Thursday the Iranian attacks on commercial vessels in the Strait of Hormuz, affirming that these unacceptable assaults are an attack on the safety and security of international navigation and global energy supplies, and constitute a grave violation of international law and norms.

In a joint statement following a meeting between Saudi Crown Prince Mohammed bin Salman and Canadian Prime Minister Mark Carney at Al-Salam Palace in Jeddah, the two countries affirmed that 'these acts escalate regional tensions, undermine confidence-building efforts, and threaten ongoing diplomatic negotiations aimed at enhancing security and stability in the region.' They also praised the efforts of Pakistan and Qatar in reaching an agreement, according to the Saudi Press Agency (SPA).

The two countries stressed the importance of restoring safe and unrestricted navigation through the Strait of Hormuz in accordance with international law, returning to the normal situation that existed before February 28.

On the Palestinian issue, both sides stressed the importance of delivering humanitarian aid safely, urgently and without obstacles, protecting civilians, and making efforts to create the necessary conditions for lasting peace. They reaffirmed their support for the two-state solution and emphasized the importance of preserving the Palestinian people's right to establish their independent state. The Saudi side welcomed Canada's recognition of the State of Palestine.

The two sides affirmed their full support for efforts to reach a political solution to the Yemeni crisis in accordance with Security Council resolutions, and agreed on the importance of supporting the Yemeni Presidential Leadership Council to enable it to carry out its tasks. They stressed the importance of maintaining the security and stability of the Red Sea region.

On Sudan, the two sides stressed the importance of intensifying efforts to end the crisis, and reaffirmed their support for Sudan's sovereignty, unity, territorial integrity, preservation of its national institutions, and the right of the Sudanese people to live in security, dignity, and justice, away from any practices that may fuel conflict or undermine the country's stability.

Strengthening Bilateral Relations

Regarding bilateral relations, the two sides reviewed 'the historical relations between the two friendly countries spanning more than five decades, in which ties have deepened, bilateral relations have been consolidated, and positive development has been witnessed in various fields.'

The Saudi Crown Prince and the Canadian Prime Minister affirmed their keenness to strengthen bilateral relations, set clear priorities to enhance joint cooperation, and ensure its sustainability in many fields including trade, investment, innovation, multilateral forums, and regional security, in the context of the significant momentum that relations have witnessed recently.

According to the joint statement, they also affirmed their commitment to building a strong and future partnership between the two countries, and agreed to establish the Saudi-Canadian Coordination Council, chaired by the foreign ministers of both countries, with the aim of advancing cooperation and achieving tangible results in political, defense and security, economic, trade and investment, cultural, educational, scientific, and consular fields.

The two sides welcomed the launch of the 'Joint Work Document' between the two countries, to serve as a roadmap supporting the work of the Saudi-Canadian Coordination Council, contributing to enhancing joint cooperation through strategic sectors.

The two sides affirmed the importance of fully benefiting from the potential offered by bilateral economic relations, and welcomed the growing cooperation between Saudi and Canadian companies, with trade volume exceeding $20 billion since 2020. They agreed to encourage mutual investments, increase non-oil trade, and support small and medium enterprises.

The two sides agreed to start negotiations on a 'Double Taxation Avoidance' agreement, and welcomed the progress of ongoing negotiations on an 'Investment Protection and Promotion' agreement, aiming to complete it by early 2027.

They also agreed on the importance of cooperation between financial institutions in the two countries to enhance financing for strategic and major projects. The Saudi side welcomed the great interest shown by Canadian investors in visiting the Kingdom to explore available opportunities, while the Canadian side expressed its welcome to Saudi investors at the first investment summit to be held in Toronto in September.

Saudi-Canadian Investment Forum

The two sides welcomed the convening of the Saudi-Canadian Investment Forum, held on Thursday, during which a number of trade and investment agreements were announced between relevant entities in both countries in the fields of mining, engineering, infrastructure, advanced industries, training, education, financial services, and information and communications technology, reflecting the economic momentum between the two countries and promising opportunities in various sectors.

The two sides also welcomed the signing of a memorandum of understanding on cooperation in the energy field, and highlighted cooperation opportunities in traditional and clean energy, including liquefied natural gas projects in Canada, electricity, renewable energy and hydrogen, carbon management technologies, innovation, cybersecurity, artificial intelligence, resilient supply chains, and workforce development.

The two sides expressed their aspiration to expand cooperation horizons in mining and mineral resources, and welcomed the memorandum of understanding signed last January to enhance cooperation in mineral resources, including exploration, financing, and processing technologies. They noted that Canadian companies have obtained the largest share of exploration licenses issued by the Ministry of Industry and Mineral Resources in the Kingdom. They also expressed their aim to enhance industrial cooperation focusing on advanced industries.

In the defense field, the two sides affirmed their commitment to enhancing cooperation and coordination to strengthen regional stability and international security, and welcomed enhanced cooperation in defense, cybersecurity, counterterrorism, combating transnational organized crime, and exchange of expertise between relevant authorities.

The two sides welcomed the signing of a memorandum of understanding on investment in artificial intelligence and skills development. They also discussed future opportunities to expand cooperation in public health, biotechnology, digital health, pharmaceutical industries, medical technologies, and exchange of expertise, training, and research programs.

The two sides affirmed the importance of enhancing joint cooperation and coordination in international forums and organizations, and multilateral financial and economic institutions, to support global stability and economic growth. The Canadian side affirmed its support for the Kingdom's desire to host the G20 summit in 2030.

Carney congratulated Prince Mohammed bin Salman on Riyadh winning the bid to host Expo 2030, and affirmed Canada's participation in the exhibition 'to showcase Canadian innovations and contributions to Saudi Vision 2030.'

The two sides referred to the FIFA World Cup and its role as an important platform for cooperation and coordination between the two countries, noting Canada's current co-hosting of the tournament and the Kingdom's hosting of the World Cup in 2034.