OREANDA-NEWS.  November 13, 2014. Mr. Zhang Yun, President of Agricultural Bank of China Limited (ABC) and Mr. Rustamov, Chairman of Agricultural Investment Bank (AIB), signed the Agricultural Cooperation Agreement in Dushanbe, capital of Tajikistan. This has unveiled further cooperation between the two countries in commercial banking. AIB is the largest bank of Tajikistan.

Tajikistan is an important country in China’s economic and diplomatic strategy. In order to promote friendly relations as well as economic and trade cooperation between the two countries, ABC will leverage its advantages and work with AIB to set an example of financial cooperation between China and Tajikistan and accelerate the development of the Silk Road Economic Belt. Both sides have agreed to cooperate with each other in the following areas: First, jointly provide financial support for trade and investment between the two countries.

Both sides will build an efficient financial service bridge to realize collaboration between domestic and overseas institutions, diversify the products in Tajikistan’s financial market and reduce the financing cost of companies. Second, make concerted efforts to promote the use of RMB in the trade, investment and financing between the two countries. ABC will capitalize on its advantages in network coverage, customer base, RMB liquidity and RMB products to provide complete and convenient cross-border RMB services for Tajikistan, promote cross-border RMB business as a unique service of Tajikistan banks and promote the use of RMB in Central Asia. Third, provide technical support for AIB in credit risk management. ABC will use its experiences and technical advantages in serving agriculture, rural areas and farmers to help AIB refine its agro-related banking products, improve risk management and provide efficient financial support for Tajikistan’s agriculture. Fourth, set up China counter in AIB to promote economic and trade cooperation between China and Tajikistan and support the investment and development of Chinese companies in Tajikistan.

During the visit in Tajikistan, President Zhang Yun also met with Mr. Saidov, First Vice Prime Minister of Tajikistan and Vice Prime Minister Alimardon and exchanged views on strengthening financial cooperation and supporting Tajikistan’s agricultural development.