Bank of Lao calls for use of local currencies in cross-border payments

Governor of the Bank of the Lao PDR Dr Bounleua Sinxayvoraving addresses the 15th China-Asean Financial Cooperation and Development Summit Forum in Nanning, China. - VT

VIENTIANE (Vientiane Times/Asia News Network): Asean and China should strengthen their cooperation in relation to cross-border payments and the use of local currencies in trade payments, Laos’ central bank chief has said.

Speaking at the 15th China-Asean Financial Cooperation and Development Summit Forum in Nanning, China, the Governor of the Bank of the Lao PDR, Dr Bounleua Sinxayvoraving, said “Laos encourages efforts to link cross-border payment systems and the use of local currencies in payments made for traded goods.”