The Hong Kong Exchanges and Clearing (HKEX) has signed a Memorandum of Understanding (MOU) with the Saudi Tadawul Group, Saudi’s stock exchange operator.

Through the MoU, both the stock exchanges will explore cooperation in fintech, ESG and cross listings, as well as a number of other areas of interest.

HKEX said in a statement that this MOU is a step closer towards enabling other areas of collaboration between Saudi Arabia and Hong Kong.

Nicolas Aguzin, CEO of HKEX said,

“Hong Kong and HKEX’s markets offer significant opportunities for international investors and corporates, including unrivalled connectivity to the Mainland Chinese markets through our unique Connect programmes.

 

This agreement signals the beginning of even greater collaboration between our companies and our home markets, and we look forward to exploring many future areas of cooperation.”

Khalid Al Hussan, CEO of Saudi Tadawul Group said,

“As we seek to position the Saudi capital market as an investment hub between East and West, we are seeing increased interest from issuers and investors in Asia.

 

With global capital markets evolving, it is moreover important for us to work together to exchange information and align on best practice to elevate our capital markets and enhance the experience for issuers and investors alike.”