- The MoU between QFCA and CABC aims to foster collaboration and development in sectors like financial services and professional business services.
- Both organizations will promote each other’s programs and activities to attract businesses and investors to Qatar and Canada.
- Yousuf Mohamed Al-Jaida of QFC sees the partnership as pivotal for global economic cooperation and sectoral growth.
- Dr. Mohamad Sawwaf highlights the alliance’s potential to foster economic collaboration and create valuable opportunities in both regions.
The Qatar Financial Centre Authority (QFCA) and the Canada Arab Business Council (CABC) have signed a Memorandum of Understanding (MoU) to establish a framework for continuous collaboration. This strategic partnership aims to foster development in specific sectors through joint initiatives, knowledge sharing, and strategic support.
The QFCA, the legal and tax arm of the Qatar Financial Centre (QFC), is a prominent onshore financial and business centre in the region. The CABC, a not-for-profit organization, focuses exclusively on promoting trade and investment between Canada and the Arab world.
Goals and Objectives of the MoU
The MoU between QFC and CABC seeks to stimulate innovation and growth in targeted sectors such as financial services and professional business services.
By facilitating business opportunities between Qatar and Canada, both parties aim to drive sectoral development and enhance economic collaboration.
The partnership includes exchanging insights on innovation trends, product developments, and regulatory updates in their respective jurisdictions, fostering mutual learning and growth.
Promoting Programs and Enhancing Visibility
One of the key aspects of the MoU is the promotion of each other’s programs and activities at various events and platforms.
This collaborative effort will increase the visibility of both organizations and highlight the investment opportunities available in Qatar and Canada. By showcasing these opportunities, QFC and CABC aim to attract more businesses and investors to both regions.
Leadership Perspectives on the Partnership
Yousuf Mohamed Al-Jaida, the Chief Executive Officer of QFC, expressed his enthusiasm for the partnership. He stated that this collaboration aligns with QFC’s mission to facilitate economic cooperation with key markets globally.
The collaboration also supports QFC’s commitment to fostering growth within its priority sectors. By working with CABC, QFC aims to expand its outreach and create valuable opportunities for businesses in Qatar.
Dr. Mohamad Sawwaf, Chair of the Canada Arab Business Council, believes that the strategic alliance between the Canada Arab Business Council and the Qatar Financial Centre marks a significant milestone. This alliance fosters economic collaboration and innovation between Canada and Qatar.
By leveraging their combined strengths, they are poised to drive sectoral development, enhance knowledge sharing, and create valuable business opportunities that will benefit both regions.
He expresses enthusiasm about the potential this partnership holds and commits to supporting the growth and success of its member organizations through this collaboration.
Establishing a Strong Foundation for Collaboration
The strategic alliance between QFC and CABC creates a robust foundation for leveraging their combined strengths to advance shared interests.
This partnership aims to promote innovation, support business growth, and strengthen economic ties between Qatar and Canada. The collaboration is expected to drive sectoral development and generate valuable business opportunities for both regions.
The MoU between QFC and CABC marks a pivotal step in enhancing economic cooperation between Qatar and Canada.
Through joint initiatives, knowledge sharing, and strategic support, this partnership aims to drive innovation and growth in key sectors, creating valuable business opportunities for both regions.
By leveraging their combined strengths, QFC and CABC are poised to significantly impact the economic landscape of Qatar and Canada, benefiting businesses and investors alike.
About the Qatar Financial Centre
The Qatar Financial Centre (QFC) is an onshore business and financial centre located in Doha, offering a conducive platform for firms to conduct business in Qatar and the region. The QFC provides its own legal, regulatory, tax, and business environment, allowing up to 100% foreign ownership and 100% repatriation of profits. It charges a competitive corporate tax rate of 10% on locally sourced profits and welcomes a broad range of financial and non-financial services firms, making it an attractive destination for businesses looking to expand in the region.
About the Canada Arab Business Council
The Canada Arab Business Council (CABC) is Canada’s only not-for-profit association dedicated exclusively to promoting trade and investment between Canada and the Arab world. Since its inception in 1983, the Council has been the principal advocate for and the driving force behind Canada’s growing economic relations with Arab countries in the Middle East and North Africa region. The CABC also collaborates with Arab governments to promote economic relations with Canada, fostering strong and mutually beneficial partnerships.
