The Russian-Thai Working Group on Banking and Financial Cooperation holds meeting

The second meeting of the Russian-Thai Working group on Banking and Financial Cooperation, held in Bangkok on 19 April 2017, discussed the integration of Russian and Thai payment systems, in particular the possibility of using and servicing Mir cards, the payment instrument of JSC NPCS, in the Thai payment infrastructure.

Representatives of the Bank of Russia and the Bank of Thailand discussed the current state and the prospects of cooperation between banks during the meeting. The parties determined the priority areas of cooperation: establishing direct correspondent relations between commercial banks of the two countries, opening accounts in the national currencies, expanding the list of financial instruments and products offered by Russian and Thai banks to support foreign trade contracts, documentary operations, internationally applied trade financing, and trading in precious metals.

Representatives of the central banks agreed to exchange information on issues of common interest, including those related to financial technology regulation.

The event was attended by representatives of Russian and Thai credit and financial institutions, ministries and agencies.

The meeting of the Working group was held in the run-up to the meeting of the Sub-commission on Trade and Economic Cooperation of the Joint Russian-Thai Commission on Bilateral Cooperation.