MoU concluded between the members of the GTI EXIM Banks Association

The Memorandum of Understanding for the GTI Northeast Asia Export-Import Banks Association was concluded between the initial memebers of the Association, the EXIM Bank of China, the EXIM Bank of ROK and the Development Bank of China, at the13th Meeting of the GTI Consultative Commission held on 10 Oct 2012 in Vladivostok.  Later in August 2013, the Association received the signature to the MoU from its fourth member,the Bank for Development and Foreign Economic Affairs of Russia.

The Association was initiated by GTI member governments to serve as a regional developing financing mechanism to support regional cooperation projects and enhance cooperation with other financial institutions. The four members of the Association have the mutual understanding to jointly identify and implement priority projects of regional significance, and to share information and knowledge on regional development. The members believe that the Association will help in creating a favorable investment and business environment in Northeast Asia and in promoting regional economic integration.

The GTI is an intergovernmental cooperation mechanism among four countries: China, Mongolia, Republic of Korea and Russian Federation, which has been supported by the United Nations Development Programme (UNDP) since its inception in 1991.Committing to the vision of building a great partnership for common prosperity between neighbours, GTI has become an effective platform for regional economic cooperation, expanding policy dialogue and improving business environments in Northeast Asia.
 

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