"Abu Dhabi International" and "Beijing Financial Street" They sign a memorandum to enhance joint cooperation
ABU DHABI, December 13, 2024 – Abu Dhabi Global “ADGM”, the international financial centre, signed a memorandum of understanding with the Beijing Street Financial Services Office, on the sidelines of Abu Dhabi Financial Week 2024, to enhance cooperation and consolidate relations in the fields of international development and advancement of the financial sector between the two parties.
The strategic agreement reinforces the commitment of both parties to enhancing cooperation between them, and highlights the role of the UAE as a major center for Chinese companies in the Middle East region and the growing trend of bilateral cooperation.
His Excellency Zhang Yiming, Ambassador of the People’s Republic of China to the United Arab Emirates, stressed the importance of this agreement in enhancing bilateral exchanges and strengthening the ties between the financial systems in Abu Dhabi and Beijing.
This strategic agreement is an extension of the initial memorandum of understanding signed by the Beijing Financial Street Service Office and the Abu Dhabi Global Financial Services Regulatory Authority (ADGM) in September 2018.
Salem Al Darei, CEO of the Abu Dhabi Global Authority, said that the memorandum reflects the joint vision of the two sides aimed at enhancing meaningful and influential cooperation, in preparation for building stronger relations and seizing more new opportunities between the financial systems in Abu Dhabi and Beijing, and that this step confirms Abu Dhabi Global “ADGM” commitment to consolidating Global partnerships and consolidating Abu Dhabi’s position as a leading international financial centre.
For his part, Lu Wuxing, Director of the Beijing Financial Street Services Office, said that the two sides will seek, through influential platforms and leading sector events such as the Financial Street Forum and Abu Dhabi Financial Week, to enhance the exchange of experiences and knowledge in the financial sector, encourage the establishment of joint companies and projects between the two countries, and advance efforts. Aiming to consolidate Beijing’s distinguished position as a national center for managing financial affairs and enhance Abu Dhabi’s position as a leading international financial center.
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