Uzbekistan's Kapitalbank, German Commerzbank Sign Memorandum Of Co-Op


(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, June 6. Uzbekistan's Kapitalbank and German Commerzbank signed a memorandum of partnership, Trend reports.

The document was signed within the framework of the 8th meeting of the German-Uzbek Business Council.

According to the document, the banks plan to cooperate in the development of financial products, the organization of joint events, and the exchange of experience.

Within the framework of the agreement, the sides plan to establish and further develop mutually beneficial and long-term cooperation in the development of business and finance between Uzbekistan and Germany.

Meanwhile, Uzbekistan's trade turnover volume with Germany amounted to $345 million from January through April 2024. This figure is 56.3 percent less compared to the same period last year ($789.8 million in January–April 2023).

Germany ranked sixth among the countries with the largest volume of foreign trade turnover in Uzbekistan.

Uzbekistan's exports to Germany totaled $26.3 million, while imports from Germany reached $318.7 million from January through April 2024.

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Trend News Agency

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