DGCX inks MoU with China's Dalian Commodity Exchange

Gold  |  2012-09-13 09:23:32   |   By

Signing of a Memorandum of Understanding (MoU) with Dalian Commodity Exchange (DCE) has been announced by the Dubai Gold & Commodities Exchange (DGCX) . This is the first MoU that DCE has signed with an Exchange in the Middle East.

DUBAI(Scrap Monster): Signing of a Memorandum of Understanding (MoU) with Dalian Commodity Exchange (DCE) has been announced by the Dubai Gold & Commodities Exchange (DGCX) . This is the first MoU that DCE has signed with an Exchange in the Middle East.

With the partnership DGCX’s and DCE’s global collaboration and support opportunities will be strengthen  which will mutually benefit the exchanges.

The agreement is designed to facilitate closer cooperation in areas such as product development, price risk management and the sharing of market resources and it will also support Middle Eastern investors and producers of energy, petrochemical and plastics to benefit from China’s huge consumer market.

Through this association, both markets will be able to leverage knowledge and expertise to support innovations and development in futures trading, said Gary Anderson, CEO of DGCX.

The DGCX-DCE MoU is the latest in a growing number of deals between the UAE and China as both countries strengthen bilateral financial cooperation and promote trade and investment. The UAE-China trade corridor has grown by 35% annually over the last decade and was estimated to be worth $35billion in 2011.

Ahmed Bin Sulayem, Chairman of DGCX said that  the strength of the UAE’s trade and investment relationship with China and the rest of Asia will play a significant role in the future expansion of the UAE’s economy. We are pleased to be contributing to the continued growth of this investment corridor.