The Stock Exchange of Thailand (SET) signed a memorandum of understanding (MoU) with Bank of China (BOC) on December 22 to expand awareness of the Thai capital market into China and to enhance the cooperation between the two organizations. The agreement has underlined SET’s key development role in stepping forward at the international level.
The MoU signing was witnessed by Thai Prime Minister Gen Prayut Chan-o-cha and Chinese Premier Li Keqiang during Prime Minister Prayut’s official visit to China during December 22-23.
SET Chairman Sathit Limpongpan said that the agreement would see the two organizations in enhancing BOC’s access to the Thai capital market, exploring the possibility to expand SET products and services to Chinese investors, listing an eligible Chinese company on SET, as well as enhancing marketing activities both in China and Thailand. The agreement aimed at progressing the Thai capital market at the international level following SET’s 2015 strategic plan.
The MoU also outlines several areas including jointly promoting the development of the offshore renminbi (RMB) market in Thailand, such as producing research and development for RMB-denominated products and related exchange services from market participants with the possibility of launching joint products, including RMB-denominated futures. The two parties will also increase information sharing and organizing staff training.