Taiwan, Thailand sign financial cooperation MOU


TAIPEI — Taiwan is expected to forge closer relations and partnerships with Thailand, based on a memorandum of understanding (MOU) that was signed in Taipei yesterday, representatives of both sides said.

The MOU will serve as the basis for financial cooperation, information exchanges and experience sharing between the two sides, with the aim of strengthening the stability of both countries’ economies, said David Sun, chairman of the Central Deposit Insurance Corp. (CDIC).

Singha Nikornpun, president of Thailand’s Deposit Protection Agency (DPA), signed the MOU on the Thai side, while Howard Wang signed on behalf of the CDIC in his capacity as the corporation’s president.

“To further strengthen our cooperation, this MOU permits both organizations to work more smoothly toward our common goal — developing and enhancing the deposit insurance system,” Nikornpun said at the signing ceremony.

The DPA is the eighth international organization with which the CDIC has signed such an MOU.

As most of the cooperating countries are located in Asia, the CDIC has been working on finding more European countries with which to collaborate, according to corporation officials.