Stock exchanges of Uzbekistan, Tajikistan agree on cooperation
By Kamila Aliyeva
The Stock Exchange “Toshkent” (Uzbekistan) and the Central Asian Stock Exchange (Tajikistan) signed a memorandum of understanding aimed at forming the basis for cooperation between the two exchanges.
The purpose of the memorandum is to create a mechanism for long-term and comprehensive cooperation between the parties in order to improve the efficiency of the exchanges.
The signing of the memorandum has become the next step in establishing long-term relations and implies the exchange of experience and information on the issues of the activities of the markets and securities transactions, and will help improve the capital markets of countries. Moreover, this agreement shows the expansion of cooperation in the financial sphere between Uzbekistan and Tajikistan.
Further steps to develop cooperation between the exchanges will be built around the organization of a single site for conducting exchange trades to create investment channels between countries.
The Central Asian Stock Exchange manages the only stock exchange in Tajikistan for trading in securities. The stock exchange is equipped with the latest technological equipment, which ensures high speed of execution of transactions.
The first trading in corporate securities was launched in early 2017, when the two-year bonds of “Bank Eshata” with a yield of 22 percent per annum were placed. The stock exchange's shareholders include GMEX Technologies, a large UK company that offers innovative solutions and technologies in financial markets. At the moment, the platform recorded 3 issuers and 2 professional participants.
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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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