Art Basel has announced a new global partnership with its long-term partner UBS. As Art Basel's Lead Partner, UBS will support Art Basel on a global level and across its shows in Basel, Miami Beach and Hong Kong. The multi-year agreement commences on May 28, 2013, and is a testament to both organizations' shared aspiration of creating a global platform for the exchanges that drive the art world forward, and the development and promotion of the visual arts.

The announcement coincides with the 20th anniversary of the organizations' partnership for the Basel show. In 2000, UBS extended its support to Unlimited, Art Basel's unique exhibition platform for museum-quality artworks that transcend the traditional art fair stand, and in 2002 UBS became the founding partner of Art Basel's show in Miami Beach.

From its second edition, UBS will become the Lead Partner of Art Basel in Hong Kong, which next year will take place from May 15 to 18, 2014 at the Hong Kong Convention and Exhibition Center. The multi-year partnership will support Art Basel as it continues to develop its platforms for its galleries and their artists, and extends its programming into areas that further connect galleries and art scenes worldwide.

UBS's support of Art Basel is part of a comprehensive commitment to contemporary art on a global scale including the Guggenheim UBS MAP Global Art Initiative, the UBS Art Collection and the UBS Art Competence Center, the Fondation Beyeler and numerous other regional art partnerships.

Marc Spiegler, Director, Art Basel, said: '20 years ago, Art Basel and UBS became partners, and since then UBS has extended its support to major cultural initiatives and programs all over the world. As Art Basel goes truly global, we are delighted to have such a strong partner at our side – one whose sponsorship philosophy is so deeply rooted in culture and the arts. Our extensive cultural programming around the world would not be possible without the support of such a dedicated partner, and we look forward to working together across all three shows in Basel, Miami Beach and Hong Kong.'

Sergio Ermotti, Group CEO UBS, said: 'We are proud to be a global partner of Art Basel’s shows in Basel, Miami Beach and now in Hong Kong. We share a passion for art and have been actively supporting cultural and artistic endeavors across the world for many years. This new collaboration ideally complements our existing portfolio of sponsorships and underlines our ongoing commitment to supporting and promoting contemporary art.'

Magnus Renfrew, Director Asia, Art Basel, said: 'I am delighted that UBS is extending its engagement with Art Basel to a global level across its three shows. We look forward to continuing the successful partnership that has been forged in Art Basel in Switzerland and at Miami Beach with our new show in Hong Kong. The inaugural edition has been a great success with visitors from Hong Kong and all over the globe. We have a shared vision to support the arts scene in Hong Kong and across Asia all year round and look forward to collaborating on supporting this energetic and fast-growing arts scene. '

Chi-Won Yoon, Chief Executive Officer - Asia Pacific, UBS AG said: 'We are delighted to be entering into a global partnership with Art Basel, especially as it coincides with an upsurge in interest in contemporary art in Hong Kong and, more generally, in Asia-Pacific.'