Westpac has signed a close cooperation agreement with the Export-Import Bank of China.
The major’s group executive Rob Whitfield said the agreement would help Westpac provide ongoing support to its customers operating in China.
The agreement was signed by Westpac group chairman Ted Evans, China Eximbank president Li Ruogu and Australian Prime Minister Julia Gillard.
“This Agreement provides a great opportunity to further strengthen the relationship between Australia and China. It is of significant mutual benefit as it will allow both banks to capture an increased share of trade and capital flows within this region. By leveraging our expertise and experience in the Natural Resources and Trade Finance, Westpac and China Eximbank will collaborate to support our common customers’ investment in Australia, New Zealand, China and other key markets,” Mr Whitfield said.