The Tashkent International Financial Centre and Busan Finance Center signed a Memorandum of Understanding aimed at developing institutional cooperation between the two financial centres

The Tashkent International Financial Centre and Busan Finance Center signed a Memorandum of Understanding aimed at developing institutional cooperation between the two financial centres, the press service of the MIIT reports.

On 16 September in Busan, a ceremony for the exchange of the signed copies of the Memorandum was held on the sidelines of the Annual General Meeting of the World Alliance of International Financial Centers (WAIFC). Alexey Sim, Adviser to the Minister of Investment, Industry and Trade of the Republic of Uzbekistan, took part in the ceremony.

The Memorandum provides for the development of cooperation in sustainable and digital finance, the exchange of best practices in the development and management of international financial centres, as well as the implementation of joint research and educational programmes.

The parties also intend to expand cooperation in attracting financial institutions, international companies and professional service providers to Tashkent and Busan.

The Memorandum became the first bilateral partnership agreement of the Tashkent International Financial Centre following its admission as a full member of WAIFC.