Bank for Foreign Trade of Vietnam (Vietcombank) and Vietnam National Petroleum Group (Petrolimex) have recently signed a comprehensive cooperation agreement.

Under the agreement, Vietcombank will consider using the products and services offered by the petroleum giant, including fuels and insurance products. In return, Petrolimex will be in favour of those provided by the bank, including international payment, cash flow management, and credit finance.

Additionally, both parties are committed to cooperating closely in non-banking products and services, co-branded cards, and customer experience optimisation.

Vietcombank Chairman Pham Quan Dung underlined the agreement as a push for bilateral relations, allowing both parties to improve their operation and unlock their full potential.

Petrolimex Chairman Pham Van Thanh asserted that the agreement would lay the groundwork for higher levels of cooperation in the future.

"This is a milestone marking a leap in bilateral relations," said Thanh.

At the signing ceremony, Vietcombank also promised a credit arrangement of VND25 trillion (US$1 billion) to Petrolimex and its affiliated firms to finance their operation. —VNS