Sharjah's Research, Technology, and Innovation Park,  said it has signed a MoU with the China Arab International Technology Transfer Company, the main platform for technology transfer and scientific cooperation between China and Arab countries.

Located adjacent to American University of Sharjah (AUS) campus, the Park will develop and manage an innovation ecosystem within a free zone that promotes R&D and supports enterprise activities and the triple helix collaboration of industry, government, and academia.

The new agreement is aimed at the setting up of a centre for technology transfer while also helping in the creation of newer partnerships between research institutions, companies and entrepreneurs, and in line with the objectives of the China Belt and Road Initiative.

The MoU was signed by Hussain Al Mahmoudi, the chief executive of AUSE and Sharjah's Research, Technology, and Innovation Park and Xiaojing Louis Zhang, the founder and CEO of the China Arab International Technology Transfer Company.

The soon to be established center is expected to play a significant role in the move to support the growth of the national economy--driving in new partnerships with research institutions, and innovation focused companies in the UAE, particularly in Sharjah.

The center will also add social and cultural impact through its promotion of economic exchange, dissemination and enrichment of knowledge and key scientific research.

The initiative is also being seen as a proponent in helping the Sharjah Park become a regional platform for the promotion of innovation, research and development and technology exchanges in the fields of renewable energy, environment, water technology, transportation, information technology, architecture and industrial design.

The move will also benefit staff working across various disciplines--helping improve their experiences and enrich the knowledge of students from the American University of Sharjah by leveraging the center as an active campus partner.

In line with all of these, the new center is predicted to leave a positive footprint in the overall efforts to achieve fiscal sustainability while also enhancing the reputation of the Chinese group across local and international levels.

On the deal, Al Mahmoudi said it demonstrates the excellent relations between China and the rest of the Arab region while also contributing in the strengthening of relations via significant fields such as knowledge transfer, innovation and development.

"To date, the UAE is home to more than 4,200 Chinese companies and 300,000 Chinese nationals - which makes this MoU more significant in the move to reinforce our ties with China. As per the terms of this agreement, the focus will be on key areas such as 3D printing, energy, renewable technologies, digital transformation and industrial modernization," he noted.

The new centre will enhance Sharjah's status as a regional capital for education, science research and development, and reflects the vision of the UAE government to become a knowledge-based economy, he added.

Zhang said its cooperation with the Sharjah Park is seen as an added value in the areas of research, technology and innovation, as it is a free zone that contributes to enhance these respective fields.

"We are confident that this new China-Arab innovation center will achieve its set goals and objectives of promoting joint innovation, knowledge transfer and technology between China and the Arab region and support the move to become a knowledge based economy," he added.-TradeArabia News Service