Bnews.kz - Vietnam to join Eurasian Development Bank

Igor Finogenov, Chairman of the Management Board at Eurasian Development Bank (EDB), and Nguyen Van Binh, Governor of the State Bank of Vietnam, had a meeting May 5 at the EDB headquarters in Almaty, the EDB said.

The meeting was initiated by the Vietnam side to discuss Vietnam’s accession to EDB as a full member. In the course of the negotiations Nguyen Van Binh stated that the visit by the Vietnamese delegation to Almaty was intended to confirm Vietnam’s serious intention to join EDB. The Governor of the State Bank of Vietnam emphasised that his country would undoubtedly become a worthy and reliable partner of EDB.

Nguyen Van Binh is convinced that cooperation between EDB and Vietnam will have a positive political effect and will help strengthen trade and economic ties between Vietnam and EDB member states, primarily Russia, Kazakhstan and Belarus, in particular if Hanoi’s negotiations with the Customs Union are successful, AKIpress reported.

Igor Finogenov confirmed EDB’s interest in cooperation with Vietnam. He also stated that the Bank was ready to consider projects to develop Vietnam’s key economic sectors and proposed to discuss these issues in the framework of the joint working group. The decision to set up the working group was passed in October 2013 after the negotiations held in Hanoi between the management of EDB and the State Bank of Vietnam.

The sides agreed to continue consultations on Vietnam’s accession to EDB.

Vietnam’s side in the negotiations was also represented by heads of the country’s largest Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank).