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Or sign-in if you have an account.“Engagement is not endorsement,” Carney said, defending his approach. “Lecturing countries from afar is an ineffective strategy.” Photo by Saudi Ministry of Media/AFP via Getty ImagesPrime Minister Mark Carney said Saudi Arabian investors are interested in Canadian energy, mining and infrastructure, as he concluded the first visit of a Canadian leader to the Middle Eastern kingdom in 26 years.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorCanada said its officials and an accompanying delegation of businesses signed agreements with Saudi partners worth more than $1 billion. And following the trip, some of each nation’s biggest investors will take a closer look at the other’s assets.Public Investment Fund, Saudi Arabia’s US$900 billion sovereign wealth vehicle, will attend an investment summit Carney’s hosting in Toronto in September, he told reporters Thursday.SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againAnd Canada’s Finance Minister Francois-Philippe Champagne will lead a delegation of the country’s large pension funds to the Gulf state in the coming months, Carney said.Carney’s visit is part of his strategy to diversify Canada’s economy away from its dependence on the United States in light of threats and tariffs from President Donald Trump. And it extends a series of leader-to-leader summits seeking rapprochement with states that had unfriendly relationships with his predecessor Justin Trudeau — particularly China and India.“Engagement is not endorsement,” Carney said, defending his approach. “Lecturing countries from afar is an ineffective strategy.”On the sectors in Canada that might see investment from Saudi Arabia, Carney cited energy, from liquefied natural gas to nuclear, as well as mining and conventional infrastructure. He saw great interest from Saudi partners in building educational ties and the “agentic” layer of artificial intelligence technology.Carney, Champagne, Defence Minister David McGuinty, Canada’s ambassador, and Canada’s Defence Investment Agency chief executive Doug Guzman met with Saudi Arabia’s top ranking business and government officials on Thursday. They included the CEO of Saudi Arabia’s state-backed oil firm Aramco, Amin Nasser, the governor of the PIF, the head of mining firm Maaden, and Saudi AI firm Humain.Carney capped it off by meeting Saudi Arabia’s Crown Prince and Prime Minister Mohammed bin Salman.Carney has signed many deals since becoming prime minister last year, but is less successful in delivering major economic results, the opposition Conservative Party argued in a statement. It cited, among other figures, a June Bloomberg survey that saw economists slash growth expectations for the Canada’s economy. 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