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Russia and Vietnam can create a bilateral payment channel in national currencies
According to the memorandum of cooperation VTB and "Bank for Investment and Development of Vietnam", it is planned to actively develop the payment system between the two countries in order to support export and import operations. It is also planned that in the near future a bilateral payment channel in national currencies will be created to service these operations, the press service of VTB Khabarovsk reports.
The Memorandum was signed during the official visit of Russian Prime Minister Dmitry Medvedev to Ho Chi Minh City. The document also indicates the strengthening of the potential and the role of VTB's subsidiary bank in Vietnam - the Vietnam-Russia Joint Bank (VRB). VRB will become the main bank in the field of currency trading, lending, factoring, provision of guarantees and other financial and banking operations in relations between Russia and Vietnam.
Как reported earlier EastRussia, the preparation of an agreement on a free trade zone between the EAEU and Vietnam has reached the home stretch, said Russian Prime Minister Dmitry Medvedev following negotiations with Vietnamese Prime Minister Nguyen Tan Dung. "We have already agreed on almost all parameters, the preparation of the document has entered the home stretch. The fundamental issues, I repeat, have been agreed upon. I hope that in the near future we will be able to sign this agreement," the head of the Russian government said.