Hong Kong has formed a financial services partnership with Qatar, amid ongoing efforts by the city to strengthen ties with the Middle East.
The Financial Services Development Council (FSDC) of Hong Kong and Qatar Financial Center Authority (QFCA) have signed a memorandum of understanding (MOU) to strengthen ties via collaborative efforts in their respective financial sectors, according to a statement. QFCA is the legal and tax arm of the Qatar Financial Center (QFC).
The partnership will include collaboration in sharing best practices and expertise, conducting joint professional training workshops and exchange programs, initiating thought leadership on topical issues and facilitating delegation visits. Both parties will also exchange key information on market trends and regulatory developments as well as host joint market promotion events to enhance connectivity.
The MOU with QFCA marks yet another example of ongoing efforts by Hong Kong to strengthen ties with the Middle East. In January, the FSDC also signed an MOU with Saudi Arabia's Financial Sector Development Program for similar collaborative initiatives.
