China and the United Arab Emirates (UAE) have recognized the vital importance of central bank digital currency (CBDC) in facilitating international trade and investment. In a joint statement, the two nations have expressed their commitment to strengthening bilateral and multilateral cooperation in relation to their respective CBDCs. China has also expressed gratitude for the UAE’s recent utilization of CBDC for direct cross-border payment transactions, specifically the digital dirham. This transaction, valued at $13.6 million (50 million dirhams), was conducted with an Asian country through the multilateral CBDC bridge platform. This advancement is anticipated to significantly improve trade and investment facilitation between the two amicable countries.
