Hadi Badri, Govt Director of Dubai Financial system and Tourism, revealed in a current unique interview that China has turn into the UAE’s largest buying and selling associate and Hong Kong can also be an essential buying and selling associate. Badri believes that as a result of shut relationship between the 2 sides, the UAE is a gateway for China to enter the Center East market.
Badri famous that the 2 international locations can cooperate in areas akin to commerce, funding, digital transformation and monetary companies.
He additionally revealed that Dubai is at the moment discussing cooperation with Hong Kong within the discipline of digital property, together with a passport licensing scheme. He believes that Hong Kong’s constructive strategy to the regulation of digital property is constructive, however didn’t reveal a timetable for cooperation.
As China’s financial affect within the Center East grows, Dubai is searching for to deepen its relationship with the world’s second-largest economic system.
Dubai has quickly developed into a worldwide monetary and industrial heart lately, and its distinctive geographic location makes it an excellent location for Chinese language corporations to enter the Center East.
As well as, Hong Kong’s well-established monetary system and regulatory framework make it a worldwide monetary heart and gateway for worldwide traders to the huge Chinese language market.
The cooperation between Dubai and Hong Kong within the discipline of digital property will undoubtedly present new enterprise alternatives and promote the event of the worldwide digital economic system.
Badri’s passport licensing scheme is a key initiative proposed by the Monetary Motion Job Drive (FATF) to control digital asset service suppliers.
It goals to offer a unified commonplace for world digital asset supervision, facilitate the cross-border switch of digital property, and promote the wholesome and sustainable growth of the digital asset business.
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