The Dalian Commodity Exchange said on Sept 14 that it has signed a Memorandum of Understanding with the Dubai Gold & Commodities Exchange.

The DCE said the move will boost strategic cooperation between the two sides on a global scale, and will also develop new business opportunities.

According to the MoU, the DCE and the DGCX will conduct extensive and in-depth exchange and cooperation concerning the development of products and the market, as well as information exchange.

"This new partnership highlights our commitment to providing our customers with the targeted products and services that they have requested. Our customers will now be able to benefit from wider market access, new price risk management capabilities and investment opportunities, " said Gary Anderson, CEO of DGCX.

"Investors are increasingly interested in the development of petroleum and related downstream products in the Middle East. The region is an influential producer of petroleum commodities, and with China being a major consumer, DCE and DGCX are natural partners in taking advantage of this important economic trend," said DCE President and CEO Liu Xingqiang.