Lao Central Bank boosts cooperation with Europe
Lao Central Bank boosts cooperation with Europe
Laos' central bank is boosting cooperation with Europe as part of international integration and experience exchange efforts.
The Bank of the Lao PDR's high-ranking delegation led by Governor Dr Somphao Phaysith and his delegates recently paid a working visit to France and Switzerland from June 22 to July 6, where they participated in a series of official events organised by BRED Banque Populaire.
The week-long working visit was held upon invitation of the CEO of BRED Banque Populaire. The French bank formed a joint stock bank with BCEL which was officially incorporated as Banque Franco-Lao (BFL) in October 2010.
During his working visit in Paris, Dr Somphao Phaysith held an official meeting with Mr Critiane Moyer, Governor of the Banque de France with the aim of enhancing bilateral ties between the Bank of the Lao PDR and Banque de France.
During the official meeting, Dr Somphao Phaysith exchanged views with his counterpart on the current international economic environment and informed him on recent economic and financial developments of Laos.
The Governor also seized the opportunity to discuss with Governor Moyer about possible technical cooperation in the fields of bank supervision, International Financial Reporting Standards (IFRS) and anti money laundering.
Dr Somphao's meeting with his counterpart was the first official meeting since they had met informally during the Annual Meeting for Francophonie in Cambodia in 2009.
Dr Somphao Phaysith and his delegates also participated in the seminar on BASEL II & III for bank supervision; IFRS 9; plus the payment, clearing and settlement system of France which was organised as part of his working visit by BRED Banque Populaire.
Dr Somphao also held a courtesy meeting with Mr Olivier Klein, CEO of BRED Banque Populaire, and his management team. After his meetings in France, Dr Somphao Phaysith paid a further working visit to Switzerland which included a meeting with the Bühler Group based in Zurich, a world leader in technology and equipment used in manufacturing.
