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.
