Hong Kong and the United Arab Emirates signed five memoranda of understanding to expand cooperation across finance, logistics, trade, and technology, according to a government press release on Thursday.

The deals, announced at the Investopia Summit in Hong Kong, include a mutual recognition framework for investment funds between the city's Securities and Futures Commission (SFC) and the UAE's Securities and Commodities Authority (SCA).

The framework will allow public funds authorized in one jurisdiction to be more easily distributed in the other.

Other agreements covered capital markets, start-up incubation, and innovation exchange.

Hong Kong Exchanges and Clearing (HKG:0388) also signed a deal with the Abu Dhabi Securities Exchange earlier in the day, aiming to deepen ties and improve cross-border market access.

Abu Dhabi's Hub71 entered into three separate MOUs with Hong Kong's Cyberport, MTR Lab, and the Hong Kong-Shenzhen Innovation and Technology Park, aimed at supporting start-ups in establishing operations across both regions.