Bangkok--Jun 29--Siam Commercial Bank
Siam Commercial Bank will enlarge its presence in China by entering into the Agreement for Economic and Financial Cooperation with The Export-Import Bank of China (China Exim Bank). Under the Agreement, SCB will be placed the important role as the gateway enhancing connection of regional business and worldwide as well as extent of Sino-Thai trading and investment collaboration. SCB is officially selected to be the only Thai financial institute to provide funding, credit as well as international financial instruments and services to business enterprises of both Thai and Chinese.
The agreement outlines the general framework of cooperation between China Exim Bank and SCB in supporting funding of Chinese-Thai joint business undertakings, export credits, international guarantees, international settlement and etc. The certain investment projects promoted by the government of either party, such as heavy industry, natural resource development, and housing development projects will be given serious and priority consideration.
Significantly, the Agreement also provides for close consultation between the leaderships of China Exim Bank and SCB to expand and improve the level and extent of the two countries’ economic collaboration.
The signing ceremony of the agreement between Dr.Vichit Suraphongchai, SCB Chairman of the Executive Committee, and Mr.Yang Zilin, Chairman and President of China Exim Bank, presided over by Prime Minister Thaksin Shinawatra of Thailand and President Hu Jintao of China will be held on July 1st, 2005 at People’s Great Hall of China, Beijing, China.
SAREEYA ASAWAPRECHA
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