On July 19, 2018, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Nguyen Thi Hong had a meeting with Mr. Azzeddine Farhane, Ambassador Extraordinary and Plenipotentiary of the Kingdom of Morocco to Vietnam.
Also attending the meeting were Mr. Mohamed El Abbadi, Secretary of Foreign Affairs in charge of economic affairs, Embassy of the Kingdom of Morocco to Vietnam. On the SBV side, there were representatives from the International Cooperation Department and the Foreign Exchange Management Department.
At the meeting, Deputy Governor Nguyen Thi Hong welcomed Mr. Azzeddine Farhane to the SBV and highly appreciated the achievements of the two sides in the fourth session of the Joint Committee between Vietnam and Morocco, which was held in Hanoi in April. The Deputy Governor spoke highly of the growth of the bilateral trade between Vietnam and Morocco over the past time. About the banking sector, the payment and money transfer operations between the two countries have been improved, but there is still much room for promotion through strengthening the cooperation between the two sides in the banking sector.
Currently, the legal system relating to the payments and money transfers for investment in Vietnam, as well as from Vietnam to overseas has been improved significantly toward liberalization of these transactions. As a result, the turnover of payments through the system of commercial banks with the African market has been continuously improved in the recent years. However, due to the lack of information about the Moroccan market, the number of agency relationships between commercial banks of the two countries has not matched the potentials of both sides. Therefore, it is necessary to establish a channel for exchanging information about the Moroccan market in general and the Moroccan banking and financial markets in particular in order to create favorable conditions for the bilateral trade and investment.
On that basis, Deputy Governor Nguyen Thi Hong believed that the Ambassador would play an important role in supporting the enhancement of the bilateral cooperation between the SBV and the central bank of Morocco in the coming time, thereby promoting trade and investment between the two countries.
For his part, Mr. Azzeddine Farhane thanked the SBV Deputy Governor for her hospitality. He highly appreciated the bilateral cooperation in the economic field between the two countries in general and the prospects in the field of finance and banking in particular. He also emphasized that Morocco always attaches much importance to the cooperative relationship with Vietnam as Vietnam is the gateway to the ASEAN economy. Therefore, he recommended that the two central banks would further strengthen the experience sharing and cooperation in the banking sector.
Le Hang