The Taiwan Stock Exchange Corporation (TSEC) has signed a Memorandum of Co-operation (MoC) with the Abu Dhabi Securities Market (ADSM) that will strengthen ties and open new areas of cooperation between the two exchanges as well as the companies listed on those exchanges.

“We believe this agreement will open the way to an enduring and important relationship between key financial institutions that represent leadership in both the Middle East and Asia,” said chairman, TSEC, Dr Rong-I Wu.

“We have agreed on closer ties, on enhanced co-operation and on exchange of information and resources that will set the path for increasing links between our respective countries,” he added.

TSEC has also highlighted the importance of building a close relationship with the UAE in its series of investment forums entitled Invest in Taiwan, Access Asia and Create an Infinite Future, that took place in Abu Dhabi and Dubai this week and gathered key investment and financial companies in the UAE.  

The purpose of the seminars is to attract foreign investment in Taiwan's financial services, high-tech manufacturing and telecommunications sectors. The delegation, headed up by chairman Wu, also included three of the major listed companies in Taipei: Shin Kong Financial Holding, China Steel and Davicom Semiconductor Inc.

 “We have conducted a series of very interesting bilateral meetings with financial institutions and large companies in the UAE, and have found much common interest between us. The two countries have the commitment to create sound and vibrant financial markets, which makes it imperative that we work together to achieve this goal,” added Dr Wu.

TSEC was established in 1961, and since then has been the primary equities market in Taiwan.  TSEC has enjoyed a reputation for having maintained an orderly market and a cost-effective trading capability since its inception.

Its central depository and book entry system have provided investors and listed companies with efficient settlement and custodian services. – TradeArabia News Service