(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 16.​ The Treasury Service Committee of the Ministry of Economy and Finance of the Republic of Uzbekistan and the State Treasury Agency under the Ministry of Finance of the Republic of Azerbaijan signed a memorandum of understanding on cooperation and experience exchange in the treasury sector, Trend reports via the Ministry of Finance.

Azerbaijan's State Treasury Agency delegation attended the annual plenary meeting of the Public Expenditure Management Peer Assisted Learning (PEMPAL) Treasury Community of Practice (TCOP) in Tashkent from October 13 to 16.

At the opening of the meeting, Nazim Gasimzade, director of the State Treasury Agency and current chair of the PEMPAL TCOP Executive Committee, briefed attendees on the event's objectives, the importance of regional cooperation, and ongoing efforts and future goals in digitalizing treasury systems.

During the event, participants listened to presentations on various topics, engaged in discussions on best practices from different countries, examined approaches of international organizations, and explored opportunities for future cooperation.

In their presentation on the digitalization of Azerbaijan's public finance, the State Treasury Agency highlighted the country's progress in digital treasury transformation, the development of integrated financial management systems, the application of artificial intelligence, and the advantages of innovative solutions in financial governance.

The event concluded with the signing of the memorandum of understanding, formalizing the cooperation and experience exchange between Azerbaijan's State Treasury Agency and Uzbekistan's Treasury Service Committee.

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