On November 10, 2020 in Hanoi, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and China Development Bank co-hosted virtually the 10th Annual Meeting of China-ASEAN Inter-Bank Association (CAIBA) and the 2020 Meeting of ASEAN+3 (China, Japan and Korea) Inter-bank Cooperation Mechanism (APTIBCM).
Deputy Governor Nguyen Kim Anh speaks at the Meetings
The Meetings were attended by H.E. Mr. Nguyen Kim Anh, Deputy Governor of the State Bank of Vietnam (SBV); H.E. Mr. Deng Xijun, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to ASEAN; representatives from Vietnam Banks’ Association (VNBA) and nearly 70 leaders and bank experts from the member banks of CAIBA and APTIBCM.
The year of 2020 marks the 10th anniversary of the establishment of CAIBA. This year is also the first time that CAIBA Annual Meeting has been organized virtually.
Under the theme of “"Deepening financial cooperation for sustainable growth in a Post-Pandemic World", the guests and representatives from both member banks and observer banks of CAIBA and APTIBCM discussed the major issues of the finance and banking industry in the current period, particularly experiences in coping with the impacts of the COVID-19 pandemic.
Mr. Phan Duc Tu, Chairman of the BIDV's Board of Directors, speaks at the Meetings
Addressing the Meeting, SBV Deputy Governor Nguyen Kim Anh congratulated CAIBA on its 10th anniversary, and welcomed the establishment of APTIBCM in 2019. He also briefed the Meetings about Vietnam’s achievements in responding to the pandemic in order to quickly restore the economic and social activities.
In 2020, the SBV has hosted many important policy dialogues within the series of events on ASEAN 2020 finance and banking cooperation, creating a platform for regional policy makers to exchange their views and to share with the business community about the orientations for financial and banking development in the coming time, transmitting a message of the banking authorities in ASEAN about promoting dynamic cooperation among regional financial institutions in order to better serve for trade and investment activities among the respective countries.
Representatives of CAIBA member banks at the virtual Meetings
At the Meetings, representatives from the commercial banks emphasized the need for strengthening cooperation among the member banks, especially in the current period of economic difficulties.
According to Mr. Phan Duc Tu, Chairman of the BIDV's Board of Directors, over the past ten years, on the basis of common benefits and prosperity of the whole region, CAIBA member banks have fostered their bilateral and multilateral cooperation and the financial connectivity, enhanced its role in the region. In particular, based on the foundation of CAIBA, the establishment of APTIBCM has opened up more opportunities for cooperation among the parties, contributing greatly to the development of the ASEAN+3 Region.
At the panel discussion session, representatives from the member banks shared their information, experiences and assessments on the topics of common interest: (i) Regional cooperation to respond to COVID-19 and post-pandemic recovery; (ii) Promote banking digitisation during and after COVID-19, and (iii) Supporting SME clients - the customer segment that was seriously impacted during and after COVID-19. Accordingly, the member banks launched several initiatives, drawing on experiences to better adapt to the new circumstances, hence uniting to overcome difficulties and to seize growth opportunities, as well as setting the business trends.
An overview of the Meetings
In addition, the member banks also signed Joint Statements, demonstrating the determination of CAIBA and APTIBCM member banks in implementing a number of specific contents to cope with the COVID-19 pandemic, in which emphasizing the members' assurance to support measures taken by Governments and Central Banks, and to provide their assistance for businesses and projects affected by the pandemic through various forms of cooperation in accordance with the laws and regulations of the parties. The Joint Statements also reaffirmed their efforts to promote cooperation in new areas through strengthening the digital economy, enhancing cooperation in sharing information, experiences and lessons learnt in response to COVID-19.
Concluding the Meetings, BIDV transferred the co-hosting role for the 2021 CAIBA's Executive Board Meeting to the Bank Islam Brunei Darussalam of the Sultanate of Brunei Darussalam.
Le Hang