The New York Stock Exchange (NYSE) has agreed to cooperate with Vietnam’s largest bourse in Ho Chi Minh City to support Vietnamese businesses mobilise capital from the US market and develop new products such as an exchange-traded fund (ETF).

The agreement was reached during a meeting between NYSE Chairman Marshall N. Carter and Chairman of the Ho Chi Minh City Stock Exchange (HOSE) Tran Dac Sinh in New York in October 25.

Sinh is heading a HOSE delegation to pay a working visit to NYSE, the world’s most developed bourse, in a bid to seek cooperation opportunities and exchange experiences, with Vietnamese stock exchanges currently preparing to launch new products.

The partnership also aims to implement a Memorandum of Understanding (MoU) signed between the two bourses as part of a US visit by former Vietnamese President Nguyen Minh Triet in 2007.

At the meeting, Carter stressed the close relationship the NYSE has with HOSE as well as other Vietnamese ministries and departments.-VNA