MOU Signing between The Export-Import Bank of the Republic of China and Land and Houses Bank, Thailand
In order to enhance the cooperation relationship between Eximbank of ROC and Land and Houses Bank (LH Bank),Thailand as well as promote the bilateral trade between two countries, both banks signed a Memorandum of Understanding (MOU) on June 18.
The MOU Signing Ceremony was held at LH Bank’s head office in Bangkok. Under the witness of Mr. Lin Shui-Yung, Chairman of Eximbank and Mr. Rutt Phanijphand, Chairman of LH Bank, the MOU was signed by Ms. Chompoonoot Pathomporn, CEO of LH Bank and Mr. Chen Hsin Chung, Chief Representative of Bangkok Representative Office of Eximbank. The purpose is to strengthen the joint cooperation relationship on the basis of existing friendship and reciprocity, and to achieve further mutual understanding and close coordination through exchange of information, experience and business connections.
LH Bank is a medium-sized commercial bank in Thailand with high growth and good profitability. In 2017, CTBC Bank Co., Ltd acquired 35.62% stake of LH Financial Group (LHFG), the parent company of LH Bank. LH Bank has set up a Taiwan Desk to reinforce trade financing business between two countries.
Thailand is one of the target countries of Taiwan’s New Southbound Policy. The bilateral trade between Thailand and Taiwan reached USD10.7 billion in 2018. Taiwan has become Thailand’s third-largest source of investment. It is expected that the MOU cooperation will promote the bilateral trade relationship as well as improve competitiveness of Taiwan products in Thailand.