Uzbekistan and Russia expand cooperation in financial management
A delegation from the Russian Federal Treasury will discuss digitalization and the development of public finance management systems with Uzbekistan.
Uzbekistan and Russia are deepening their partnership in financial management.
A delegation from the Russian Federal Treasury, led by Deputy Head Alexander Mikhailik, is visiting Uzbekistan from August 18 to 21. The purpose of the visit is to further develop cooperation in public finance management and treasury services, according to the Information Service and Communications Department of the Ministry of Economy and Finance of the Republic of Uzbekistan.
During the meetings, representatives of the Russian Federal Treasury and the Treasury Service Committee under the Ministry of Economy and Finance of Uzbekistan are discussing key issues, including the centralization of accounting in budgetary organizations, as well as budget accounting and reporting.
Particular attention is being paid to the implementation of digital technologies in public finance management processes and the use of modern information systems in treasury operations.
The Memorandum of Technical Cooperation signed in 2017 between the Federal Treasury of Russia and the Ministry of Economy and Finance of Uzbekistan, as well as the Cooperation Program for 2024–2026, serve as the basis for cooperation.
Additionally, the interaction is regulated by the Memorandum of Technical Cooperation concluded on December 9, 2024, between the Federal Treasury of Russia and the Treasury Service Committee of Uzbekistan.
During the current visit, the parties also intend to develop a draft of a new trilateral cooperation program for 2027–2029.
According to the Ministry of Economy and Finance of Uzbekistan, the meetings are intended to strengthen practical cooperation between the treasury departments of the two countries and facilitate the implementation of best practices in public financial management.