Asian Financial Forum: Hong Kong and Saudi Arabia agree to deepen cooperation between financial markets on the first day of the 17th annual event

“This cooperation marks significant progress in consolidating Hong Kong's position as a leading international financial center,” FSDC Chairman Lawrence Lee said at the AFF opening ceremony.

“By joining forces with FSDP, [the FSDC will] “We will strive to establish comprehensive financial market connectivity that will benefit businesses in both regions and facilitate cross-border investment flows,” said Mr. Lee.

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It is hoped that Hong Kong and Saudi Arabia can strengthen cross-border investments, share best practices in fintech and talent development, increase connectivity through market promotion activities, and strengthen financial partnership.

FSDP Director-General Faisal Al-Sharif said, “FSDP and FSDC are poised to open up opportunities for cooperation in our two financial markets with our shared vision of a mutually beneficial partnership.”

The agreement aims to strengthen cooperation in key areas, including supporting capital market connectivity, conducting joint research and knowledge sharing, organizing exchange programs and joint events, and leveraging synergies and mutual benefits. There is.

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“[The agreement] This strengthens our commitment to mutual cooperation and sets us up to advance our joint goal of fostering a robust, inclusive and innovative financial environment,” Al-Sharif said.

“This agreement is a testament to our commitment to fostering ties between the Saudi and Hong Kong financial markets.”

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China's deepening ties with the Middle East complements the Gulf region's ambitious development plans and quest to become a cradle of innovation, he added.

Meanwhile, Hong Kong offers many opportunities for Gulf countries to take advantage of its developed financial services sector, Chan said.