Georgian, Kazakh national banks sign deal to enhance cooperation

Natia Turnava, the Acting Governor of the National Bank of Georgia, and Timur Suleimenov, the Governor of the National Bank of Kazakhstan, on Thursday signed a memorandum of cooperation aimed at fostering “close cooperation in key areas” such as central bank activities, payment systems and financial services, the NBG said.

The body said the parties recognised the importance of expanding and strengthening bilateral cooperation and considered common aspirations for a “more productive and effective partnership” in exchanging information, sharing experience and cooperating on best practices in central banking.

The creation of this strategic partnership will lead to a more integrated and cooperative regional economy that can effectively navigate the complexities of the current global economic environment”, Turnava said.

The NBG added its head signed the agreement as part of her visit to Kazakhstan, with Georgian and Kazakh officials also discussing matters related to stability and development of banking and financial systems of the two countries.

The parties also emphasised the need for further cooperation to develop the financial sector between the countries of the Middle Corridor - a multimodal transport corridor connecting China to Europe through the South Caucasus.