Canada and China moved to expand flows of Canadian oil, natural gas, and uranium into China through a new “economic and trade cooperation roadmap” and a memorandum of understanding aimed at strengthening energy co-operation, announced during Prime Minister Mark Carney’s visit to Beijing.
Carney said Canada would welcome Chinese investments in areas including energy, agriculture, and consumer products, positioning inbound capital as part of a broader effort to widen markets and investment sources as US protectionist tariffs damage the Canadian economy.
The energy MOU, signed for Canada by Energy and Natural Resources Minister Tim Hodgson, states that both countries “recognize that conventional energy continues to play an important role in the energy transition,” and commits the two sides to strengthen exchanges across oil and gas resources development and trade, specifically including crude oil, liquefied natural gas, and liquefied petroleum gas.
Chinese companies took delivery of liquefied natural gas from Canada’s first LNG export facility in 2025, and China has ramped up purchases of Canadian oil over the last year.
The MOU also promotes Canadian uranium sales, stating that both sides aim to “strengthen cooperation in natural uranium trade.” As Carney introduced the Canadian delegation to Chinese Premier Li Qiang, he pointed to Saskatchewan Premier Scott Moe and highlighted that Saskatchewan has lots of uranium.
Canadian flags flew over Tiananmen Square as Carney was received by Li at the Great Hall of the People, and China’s foreign minister Wang Yi described Carney’s first visit to China as a “turning point” after years of strained relations.
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