The stewards of the Jockey Club are expected to formally approve a joint venture agreement which could see the annual International Cup in December become a key race in a proposed World Racing Championship. Jockey Club chief executive Lawrence Wong has returned from the Dubai World Cup where a meeting was held between representatives of major racing clubs and associations on establishing a World Racing Championship which would be launched next year. Co-ordinating the venture that has attracted interest from racing authorities or clubs in Britain, America, Canada, France, Hong Kong and Japan is the International Racing Bureau. Executive director Nick Clarke said: 'It was a very positive meeting and a legal joint venture between the authorities was agreed. 'In Hong Kong, and elsewhere, what happens next is that the joint venture agreement will be endorsed by the stewards or each member's board. We will then have a further meeting in mid-summer and later in the year we would expect to announce comprehensive details of the World Racing Championship.'