Bank of China and Russia’s VTB Bank have signed an agreement expanding their product lines for servicing trade contracts between China and Russia. The deal is expected to increase trade between the two countries in different sectors of their economies. It would provide banking services to finance bilateral trade flows within the limits of credit lines approved by Bank of China for VTB. VTB trade and export finance managing director Igor Ostreyko said the agreement is an important step for them in improving and diversifying relations with Chinese counter-parties, as well as supporting trade between the countries. The agreement extends VTB’s significant trade finance proposal for companies working with China, he said.
Click to comment
