Taipei Exchange, the nation’s over-the-counter market, signed a memorandum of understanding with Croatia’s Zagreb Stock Exchange Feb. 15 in Taipei City, establishing a strong foundation for future collaboration in the financial services sector between Taiwan and European Bank for Reconstruction and Development recipient nations, according to the Ministry of Foreign Affairs.
Su Yu-ching, TPEx CEO and managing director, and Ivana Gazic, president of ZSE’s management board, inked the pact on behalf of their respective organizations. The agreement establishes a communication mechanism to facilitate mutual assistance in the maintenance of orderly securities markets in each country as well as promote information sharing and potential cooperation in staging joint staff training initiatives.
“The two sides believe that further cooperation can complement and facilitate the development of both financial markets and further enhance economic ties between Taiwan and Croatia,” according to TPEx.
Gazic is visiting Taiwan as part of a 12-member delegation jointly organized by the MOFA and EBRD. The delegation—which also includes Ales Ipavec, president of the management board of Slovenia’s Ljubljana Stock Exchange—is touring Taiwan from Feb. 11-18 to learn about local capital markets as well as gain a better understanding of the nation’s financing and support network for small and medium enterprises.
According to the MOFA, since the founding of the EBRD in 1991, Taiwan and the development bank have collaborated on various financial projects spanning such areas as syndicated lending and trade confirmations. The EBRD is eager to share with recipient countries TPEx’s expertise in setting up funding platforms to facilitate small business growth, the ministry said, adding that Taiwan will continue to assist local financial firms in expanding their presence in these nations. (KWS-E)
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