Tashkent, Uzbekistan (UzDaily.com) -- Asia Alliance Bank and Raiffeisen Bank International AG (Austria) signed a memorandum of understanding and cooperation.

The document was signed within the framework of the second Economic Forum in Samarkand.

This agreement will stimulate the development of relationships, learn from experience and practical skills in such banking industries as trade finance, the development of an international transaction business aimed at meeting customer needs, as well as the development of the Environmental, Social and Governance (ESG) direction.

As part of the growing partnership between banks, the issue of cooperation in the field of transactional business and trade finance is being worked out.

Representatives of Asia Alliance Bank also held a number of meetings with such foreign financial institutions as Landesbank-Baden Wurttemberg (Germany), Bank of New York Mellon (USA), Symbiotics (Switzerland), ICS Financial Systems (Jordan) and the Islamic Corporation for the Development of Private sector (Saudi Arabia).

Agreements were reached on deepening cooperation in order to support small and medium-sized businesses, finance investment projects that bring social and economic benefits, as well as promote and strengthen the export potential of private domestic businesses.