On April 24, 2025, the Vietnam Bank for Agriculture and Rural Development (Agribank) attended the "Vietnam-China Financial Services Forum." Ahead of the forum, Agribank signed a Memorandum of Understanding (MoU) with the Agricultural Bank of China (ABC) to strengthen comprehensive cooperation between the two sides. 

The "Vietnam-China Financial Services Forum" is a significant event aimed at enhancing financial collaboration between the two nations. The forum provided a substantive dialogue space for regulatory authorities, financial institutions, and businesses from both countries. 

During the forum, participants discussed and shared practical experiences in cross-border payments and the development of new trade models, such as cross-border e-commerce. They also explored ways to coordinate among governments, banks, and enterprises within a legal framework to build high-quality, secure, efficient, and distinctive trade-financial services, elevating Vietnam-China economic and trade cooperation to new heights. Through its participation, Agribank exchanged insights, gained expertise, and identified collaboration opportunities with Chinese and domestic financial institutions. 

Prior to the forum, Agribank and ABC signed an MoU to enhance comprehensive cooperation. Both parties committed to collaborating in areas such as cross-border payments, trade finance, agricultural finance, and support for overseas branches, based on the principles of equality and mutual benefit. 

The signing of the MoU not only demonstrated the strong commitment of both sides to promoting comprehensive cooperation but also opened up new collaborative opportunities. It further underscored their dedication to fostering bilateral ties, contributing to the socio-economic development of both countriess. 

Agribank is one of the largest banks in Vietnam, with an extensive network and a key role in rural and agricultural development. It is highly regarded by international organizations and maintains cooperative relationships with major correspondent banks worldwide. 

Currently, Agribank has correspondent relationships with 48 banks in the Chinese market, offering a diverse range of services, including trade facilitation, border payments, and foreign exchange transactions. Agribank also provides international payment services to 160 countries, with China being one of its largest markets. 

Regarding cross-border payment services, Agribank was the first commercial bank in Vietnam to implement this operation with neighboring countries. The cross-border payment cooperation between Agribank and ABC has been ongoing since 1997. To date, Agribank has established seven key cross-border payment branches serving the Chinese market, including: Lao Cai, Lao Cai II, East Quang Ninh, Lang Son, Cao Bang, Ha Giang, and Lai Chau.

Kylie Nguyen