A new joint venture, Moutamarat, has been formed by Dubai Holding and a major Saudi group, Saudi Research and Publishing Company (SRPC), to manage conferences and exhibitions, the groups said in a press statement.
The venture is expected to bring the latest knowledge trends to the Arab world, they said.
An agreement was signed yesterday by Mohammad Al Gergawi, CEO of Dubai Holding, and Dr Azzam Al Dakhil, chairman of SRPC.
Dubai Holding, the investment arm of the Dubai Government, has several companies under it, operating in a variety of sectors.
"Moutamarat will develop its own portfolio of conferences and exhibitions with a strong focus on quality, innovative research and a clear sense of serving the public interest," Al Gergawi said.
"In addition, Moutamarat will work with leading organisers to attract global meetings to the region and seek strategic partnerships with like-minded institutions across the Gulf."
Moutamarat has been given charge from this year to organise and expand the reach and role of existing prestigious events such as the Arab Strategy Forum 2006 and the Annual Meeting of the Young Arab Leaders in 2005, Al Gergawi said.
Dr Al Dakhil said: "The joint venture is a coordinated effort by two major companies in the region who share a vision for the central role that knowledge will play in driving forward the development of the region.
"It is one of the few examples of high-profile inter-Arab business initiatives that look to create value for the whole region."
He said the formation of Moutamarat was part of a plan to enter new markets having growth potential.
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