The Dubai International Financial Centre (DIFC) Courts has signed a cooperation agreement with The Law Society of Hong Kong, one of Asia's leading financial centres.
Justice Omar Al Mheiri, Director of DIFC Courts highlighted the significance of modern commercial courts in the region, emphasizing the certainty they provide to businesses. The partnership between DIFC Courts and Hong Kong fosters investor confidence, enhances access to justice, and strengthens ties between two prominent financial hubs.
C. M. Chan, President of The Law Society of Hong Kong, said the agreement is
"the first agreement of its kind between The Law Society of Hong Kong and a Middle East courts system".
He also expressed confidence in the agreement's potential to significantly bolster legal and judicial sectors, fostering collaboration between businesses in both regions and worldwide.
In 2024, Hong Kong's Census and Statistics Department confirmed that non-oil foreign trade value between the two countries surged from $9.4 billion in 2020 to $16.23 billion in 2022. Non-oil foreign trade value continued to grow in 2023, reaching $16.2 billion in the first 11 months of the year.
News Source: Emirates News Agency
