The Hong Kong Monetary Authority (HKMA) and the Central Bank of the United Arab Emirates (CBUAE) held a bilateral meeting in Hong Kong recently to enhance financial sector cooperation. A Memorandum of Understanding was signed by HKMA chief Eddie Yue and CBUAE governor Khaled Mohamed Balama to establish debt capital market connectivity between Hong Kong and the UAE, facilitating cross-border debt issuance and investment. The agreement aims to boost collaboration, exchange expertise, and strengthen Hong Kong’s role as a gateway for renminbi and global debt markets. Following their first meeting in Abu Dhabi in 2023, the two authorities discussed financial infrastructure development, cross-border market opportunities, and investment prospects in mainland China and the Middle East and North Africa region.