Last Updated March 26, 2008
The Bank of China has signed an agreement with Southeast Asian Bank (Seabank) in Vietnam to increase cooperation in terms of international payments procedures.
Under the agreement, Bank of China will provide letters of credit for Seabank, as well as transfer funds to the Chinese market for the bank and handle orders of payment in US dollars.
The agreement will help open up the Chinese market to Vietnamese businesses, and help Seabank meet the growing demands of its clients.
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