Vietnamese and Lao State Bank Governors sign a memorandum of understanding on bilateral cooperation. (Photo: VNA)

Vientiane (VNA) – The State Banks of Vietnam and Laos convened a joint conference in Luang Prabang, Laos, on February 15.

The sides updated each other on macroeconomic situation, the enforcement of monetary policy and management of commercial banks in their respective countries.

Pleased with effective bilateral cooperation in the past time, the two sides agreed to continue implementing joint projects in cross-border trade payment, banking inspection, anti-money laundering and personnel training.

The two State Banks also committed to boosting the partnership among the four countries – Vietnam, Laos, Myanmar and Cambodia.

Concluding the function, Governor of the State Bank of Vietnam Le Minh Hung and his Lao counterpart Somphao Phaysith signed a memorandum of understanding on bilateral collaboration.

They vowed to encourage and facilitate partnerships between Vietnamese and Lao commercial banks, contributing to stimulating investment and trade ties between the two countries.-VNA