Azerbaijani, Uzbek treasury agencies ink MoU

A memorandum of understanding (MoU) on mutual cooperation and knowledge exchange has been signed between Uzbekistan's Treasury Service Committee and the State Treasury Agency under Azerbaijan's Ministry of Finance, Report informs, citing the ministry.

The document was signed in Tashkent, Uzbekistan, during the annual plenary meeting of the Public Expenditure Management Peer-Assisted Learning Network (PEMPAL) Treasury Community of Practice (TCOP).

At the opening of the plenary session, Nazim Gasimzada, Director of the State Treasury Agency of Azerbaijan and current Chair of the PEMPAL TCOP Executive Committee, spoke about the forum's objectives, the importance of regional cooperation, and ongoing efforts toward the digitalization of treasury systems, as well as future goals.

Throughout the event, participants delivered presentations on a range of topics aligned with the agenda. Discussions were held with experts on best practices from various countries, approaches of international organizations, and opportunities for future collaboration.

In a presentation by representatives of the State Treasury Agency, Azerbaijan's progress in the digital transformation of public finance was highlighted, including the development of integrated financial management systems, the application of artificial intelligence, and the advantages of innovative solutions in financial governance.