Azernews.Az

By Kamila Aliyeva

Commercial banks of Uzbekistan and Tajikistan signed a partnership agreement.

Joint-stock commercial bank Asaka and open joint-stock company Bank Eshata signed an agreement to increase the export of goods and services from Uzbekistan to Tajikistan, Uzbek media outlets reported.

The purpose of this deal is the further implementation of the agreements signed between the governments of Uzbekistan and Tajikistan on financial cooperation.

The document was signed within the framework of the state visit of Uzbek president Shavkat Mirziyoyev to Tajikistan on March 9, 2018.

The agreement signed between the banks provides for the financing of transactions related to the export of goods and services from Uzbekistan to Tajikistan.

Within the framework of the allocated credit limit, it is planned to implement trade finance transactions aimed at increasing the export of goods and services of Uzbekistan in various industries.

This document is a continuation of fruitful cooperation between banks, which began in 2017 with the establishment of direct correspondent relations for the development of interbank settlements between business circles of the two countries.

The trade turnover between the two states increased by 20 percent and totaled $ 240 million in 2017. Currently, the countries plan to increase the volume of bilateral trade up to $1 billion in the near future.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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