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Finance 09/02/2011 Sumitomo Mitsui Banking Corporation, NBU sign MoU on business cooperation
Sumitomo Mitsui Banking Corporation, NBU sign MoU on business cooperation
Tashkent, Uzbekistan (UzDaily.com) -- Sumitomo Mitsui Banking Corporation (Japan) signed a Memorandum of Understanding (MoU) for business cooperation with National Bank for Foreign Economic Activity of the Republic of Uzbekistan on 8 February 2011.

Sumitomo Mitsui Banking Corporation noted that the document envisages creation of conditions for providing financial operation of Japanese companies at implementation of various projects in Uzbekistan.

NBU was established at the time of the foundation of Uzbekistan in 1991 as a public financial institution. Its mission is to service foreign trade operations, to increase the export potential of the country and attract foreign investments.

NBU is the largest bank in Uzbekistan by asset and the aim of the business alliance is to strengthen business cooperation in trade finance, promotion of business opportunities for Uzbekistan and Japanese companies, project finance, environmental business such as reduction of greenhouse gases and collaboration in JPY clearing business.

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