Vietnamese State Bank Governor Nguyen Van Giau and his Thai counterpart Tarisa Watanagase signed a memorandum of understanding (MoU) on the field in Nha Trang city on April 6.

The signing was aimed at enhancing the national financial safeguard mechanism, exchanging information in banking supervision and ensuring the safe and healthy operation of the financial system of each country.

The MoU is expected to lay a foundation for credit institutions of Vietnam and Thailand to open representative offices in the other country. It will also create a framework for cooperation and the exchange of information on supervision and management of the two countries’ central banks.

The document was signed on the sidelines of the 6th ASEAN Central Bank Governors’ Meeting (ACGM 6), which is to open at the same place on April 7.