Russia's Vneshtorgbank And Leading Belarussian Banks To Cooperate

Russia's Vneshtorgbank signed with the leading banks of Belarus - Belvneshekonombank and Priorbank - bilateral agreements on interbank cooperation in foreign trade servicing. The ceremony of signing was held in the Belarussian embassy in Moscow. The objective of the agreements is to create a reciprocal most-favoured-nation regime in the implementation of both individual programmes by each side and joint projects, to set up strategic partnership on the Russian-Belarussian and international financial markets as well as on the markets of member-states of the Commonwealth of Independent States. The agreements are expected to be conducive to stepping up trade between economic subjects of Russia and Belarus due to the creation of a developed interbank infrastructure. Opening mutual accounts in national currencies, crediting the Russian-Belarussian trade, as well as joint participation in financing projects on the territory of Russia and Belarus, optimisation of a system of monetary transfers between private individuals, residents of Russia and Belarus, and exchange of information about clients are also envisaged.

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