BANK of China, Industrial and Commercial Bank of China (ICBC) organized a meeting regarding the issue of opening a Chinese yuan account and making payments for Myanmar-China trade at Pullman Mandalay Mingala Hotel in Mandalay as per COVID-19 health rules yesterday.

First, Deputy Governor of Central Bank of Myanmar Daw Than Than Swe discussed the aims, objectives and procedures of the direct use of yuan-kyat in bilateral border trade and advantages.

Secretary of Central Committee on Ensuring Smooth Flow of Trade and Goods Deputy Minister for Commerce U Nyunt Aung briefed the challenges in making payments by opening yuan accounts.

Then, the merchants to the meeting raised the questions about the banking sectors, payment methods, proposed exchange rate, documents for border trade, bank rate and financial assistance, and Managing Director of MEB, officials of ICBC and BOC coordinated the discussion.

Mandalay Region Economic Affairs Minister, Secretary of the Central Committee on Ensuring Smooth Flow of Trade and Goods, officials from Myanma Economic Bank and Departments, President and officials from RCCI (Mandalay), officials from the Myanmar Banking Association and private banks, officials from Bank of China and Industrial and Commercial Bank of China (ICBC) foreign branches attended the meeting and some of the officials joined the meeting via videoconferencing.

MNA

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