International: ADGM and UK to promote secure data flows in the future
The Abu Dhabi Global Market ('ADGM') announced, on 16 December 2022, that it had welcomed a delegation from the UK Government's Department for Digital, Culture, Media, and Sport ('DCMS'). In particular, the ADGM stated that the new leaders from the UK and the UAE have been in recent conversations to review mutual ties and ways to strengthen them, building on the deeply rooted history of business and bi-lateral relationships between both parties.
In this regard, ADGM Chairman, Ahmed Al Zaabi, stated that in light of the significant growth of the digital global economy in the past few decades, constituting a market roughly equivalent to $11 trillion, and as new age finance continues to be one of the key focus sectors for the ADGM, partnerships are essential to realising global opportunities and benefits of global data flows.
On a similar note, UK Minister of State for Media, Data and Digital Infrastructure, Michelle Donelan, expressed that the UK is keen to strengthen its partnership with the ADGM and work together 'to promote trusted and secure data flows in the future.'
You can read the press release here.