Standard Chartered has signed a cooperation agreement with the Dubai Department of Economy and Tourism (DET) in order to jointly promote business growth and development opportunities between Hong Kong and Dubai.

According to the agreement, Standard Chartered Hong Kong and the Dubai Department of Economy and Tourism will deepen cooperation on a range of strategic areas between Hong Kong and Dubai. They will also set up a joint working group to discuss about how to achieve these objectives.

“By joining forces with partners like Standard Chartered we aim to create cross-border platforms to accelerate opportunities for trade and innovation exchange across the fastest-growing economies in the world. Building on Dubai’s position as a gateway to the wider Middle East, Africa, and beyond; the agreement gives companies from across Asia access to a wealth of resources and expertise to reinforce their expansion and growth plans. We look forward to working closely with our partners at Standard Chartered to help their clients and customers set up successful operations in Dubai.”

Furthermore, this deal will promote the growth of capital market activities, family offices, asset management, fintech, and virtual asset industries. It will also develop sustainable and green financing solutions as well as innovative solutions to support trade and commodity financing for imports, exports, and re-exports.

Ms. Rola Abu Manneh, Chief Executive Officer, Standard Chartered, UAE, said that, “In this era of global connectivity, our partnership with the Dubai Economic Development Corporation marks a significant milestone for us. We are committed to facilitating seamless banking services to organizations and investors within the UAE-Hong Kong corridor.”

“This Memorandum of Understanding not only fosters trade and liquidity but also underscores our dedication to promoting sustainable finance while leveraging our extensive global network to connect businesses and individuals across both sides of the corridor to opportunities worldwide,” Ms. Abu Manneh added.