DIEDC Signs Agreement With Hong Kong Trade Development Council
Fahad Shabbir (@FahadShabbir) Published April 17, 2019 | 03:45 PM
DUBAI, (UrduPoint / Pakistan Point News / WAM - 17th Apr, 2019) Dubai Islamic Economy Development Centre, DIEDC, has announced that it signed a Memorandum of Understanding with the Hong Kong Trade Development Council, HKTDC, to exchange knowledge, experience, and best practices in Islamic economy, as well as boost bilateral relations between Dubai and Hong Kong.
Abdulla Mohammed Al Awar, DIEDC CEO, and Raymond Yip, Deputy Executive Director of HKTDC, signed the agreement as part of an official visit to the centre by the council's delegation.
The MoU aims to create new channels of cooperation in the Islamic economy ecosystem with a focus on Islamic finance, halal food industry, and Islamic lifestyle, particularly Islamic arts and culture. It includes organising workshops and training courses, and conducting joint research and development that can serve as the cornerstone of a knowledge repository on Islamic finance and the halal industry. In addition, the two entities will support companies in their respective jurisdictions that seek to expand to the other market through facilitating networking opportunities.
Speaking on the occasion, Al Awar said, "Through the MoU, the Centre and its key stakeholders aspire to maximise the potential of Islamic economy sectors, particularly Islamic finance, halal industry, and Islamic lifestyle, and contribute to increasing the number of businesses from the Far East that tap into these sectors.
"
He added, "We aim to establish a productive partnership with HKTDC to boost halal trade and Islamic finance. In addition, we plan to develop joint research reports that will provide key insights into the Islamic economy sectors as well as useful reference points for investors and businesspeople."
For his part, Raymond Yip said, "The Islamic economy, as well as the wider economies of the Far East, present promising opportunities that grow in number from one day to the next. The MoU with DIEDC opens doors to leveraging these opportunities for our shared benefit."
According to the Government of Hong Kong, bilateral trade between the UAE and Hong Kong reached US$10.87 billion in 2017, marking an increase of 2.7 percent on US$10.59 billion in 2016. Growth is expected to continue into the coming years due to significant cross-sector investment prospects in each market.
According to the Dubai FDI Monitor, total foreign direct investment from Hong Kong to Dubai between 2015 and 2018 reached AED275 million distributed across 13 projects.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 29 March 2024
Today Gold Rate in Pakistan 29 March 2024
Journalists call for global action to end Gaza’s humanitarian crisis
CM for generating opportunities to bring direct int'l investment
Pakistan retains position in FTSE secondary emerging market
High Commissioner of Malaysia hosts Iftar dinner reception
NEPRA announces 2nd quarterly adjustment in power bills with Rs 1.68 cut per uni ..
Hoopo Inc. Collaborates with SAU to Install Solar-Powered RO Plant
04 killed in Spain as Storm Nelson looms
Russian military jet crashes into sea off Crimea: Governor
Rain-windstorm/thunderstorm likely at various parts of country
Implementation of Sindh Agriculture Workers Act-2019 demanded
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
2 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
5 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
5 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
5 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
5 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
5 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
5 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
5 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
5 months ago -
SIBF turns spotlight on remarkable contributions of women
5 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
5 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
5 months ago