File photo/Zhang Yun (NBD)

Feb. 6 (NBD) -- The Hong Kong Exchanges and Clearing Limited (HKEX) and the Saudi Tadawul Group Holding Company (Tadawul) have announced the signing of a memorandum of understanding (MoU) to explore cooperation opportunities in multiple fields to mutually benefit both financial markets.

Under the memorandum, HKEX and Tadawul will explore cooperation opportunities in fintech, ESG, mutual listing and other areas of mutual interest.

This collaboration will further enhance the close relationship between the two exchanges and foster mutual understanding between their respective stakeholders. 

The cooperation will help both exchanges to boost their respective markets by leveraging their respective strengths, while also enabling the markets to benefit from each other's strengths and experiences. Further, this partnership will also help to increase the global competitiveness of both exchanges and their markets.

The new memorandum of understanding isanother step forward in the development of the global financial markets, and will help to further integrate the two markets.