The Central Bank of Egypt, Vietnam’s central bank ink MoU to boost cooperation

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The Central Bank of Egypt (CBE) has signed a memorandum of understanding (MoU) with the State Bank of Vietnam (SBV) to bolster joint cooperation, according to a cabinet statement on July 27th.

As per the MoU, both banks will exchange views with respect to the application of the international banking supervision principles, upon which a dialogue will be conducted between the two sides on monetary and foreign exchange policies.

The agreement also covers training the banking sector staff, along with exchanging expertise and information related to the amendments to the banking laws and regulations.

This came on the sidelines of the Vietnamese Deputy Prime Minister Tran Luu Quang’s visit to Egypt with his accompanied delegation.

On a related note, Quang noted during his visit to New Alamein city that his country is looking forward to boost its cooperation with Egypt in the trade sector.

For its part, the Egyptian government seeks to bolster the trade exchange between the two countries in the coming period, Prime Minister Mostafa Madbouly said during his meeting with the Vietnamese delegation in New Alamein.

Moreover, Madbouly proposed forming an Egyptian-Vietnamese business council, shedding light on the possibility of cooperation in the fields of fisheries, ship building, and rice cultivation.