BAKU, Azerbaijan, September 17.
The Tashkent International Financial Centre (TIFC) and the Busan Finance Center have signed a memorandum of understanding to expand institutional cooperation in sustainable and digital finance, research, education, and the development of international financial centers.
This was reflected in the statement by the Uzbek Ministry of Investment, Industry and Trade.
According to the Ministry, the memorandum was exchanged on September 16 in Busan on the sidelines of the annual meeting of the World Alliance of International Financial Centers (WAIFC). Alexey Sim, adviser to Uzbekistan’s Minister of Investment, Industry and Trade, participated in the ceremony.
The Ministry notes that the agreement provides a framework for cooperation between the two financial hubs, including the exchange of experience and best practices in developing and managing international financial centers.
The sides also plan to cooperate in sustainable and digital finance and implement joint research and educational programs, according to the TIFC.
"The memorandum creates a platform for Tashkent and Busan to exchange expertise, develop joint initiatives and strengthen links between their financial ecosystems," the TIFC said.
The two centers also intend to work together to attract financial institutions, international companies and professional-services providers to Tashkent and Busan.
The cooperation is expected to create additional channels for sharing expertise in financial-center development while supporting connections between businesses and financial institutions in Uzbekistan and South Korea.
The memorandum was signed as part of the annual WAIFC meeting, bringing the Tashkent International Financial Centre into closer bilateral cooperation with another international financial center following its admission to the global alliance.
