On Thursday, November 3, 2016, IFEZ signed a memorandum of understanding with the Tianjin Free Trade Pilot Zone of China for economic cooperation. Under the agreement, both sides agreed to share operational experience and policy know-how related to special economic zones, while expanding exchange and cooperation between businesspeople of the two countries and strengthening support for investment and trade services. They also planned to identify cooperative projects in areas of mutual interest and reinforce the foundation for international exchange in order to build a practical framework for economic cooperation.