Asean, China Banks Pledge To Intensify Coop

Beijing, Oct 17 (Antara) - Banks in ASEAN member countries and in China have agreed to intensify cooperation in the financial sector in order to work towards better investment and trade relations in the future. The commitment was made during the China-ASEAN Inter Bank Association`s meeting held here on Thursday. "China and ASEAN have been neighbors and trading partners for years. The implementation of the China-ASEAN Free Trade Agreement and the objective of increasing the investment up to US$1 Trillion in 2020 require better cooperation, including in the banking sector," Chairman of China`s Development Bank Hu Huaibang said here on Thursday. Meanwhile, the Director of Treasury, Financial Institutions and Special Asset of Bank Mandiri (Indonesia), Royke Tumilaar, said Chinese and ASEAN banks can cooperate in various ways, including lending financial support to build physical infrastructure and telecommunication network. "The ASEAN banks can learn from their Chinese partners and vice versa. We positively welcome the commitment to closely work with China," he said.