The agreement is aimed at improving Westpac’s ability to support its customers operating in China and China Eximbank’s capacity to assist customers with interests in Australia and New Zealand.
The general cooperation agreement with Westpac is the first agreement China Eximbank has signed with an Australian bank.
Westpac Institutional Bank group executive Rob Whitfield said 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," Whitfield said.
