The Republican Stock Exchange “Toshkent” (RSE Toshkent) and the Kyrgyz Stock Exchange (KSE) have entered into a Memorandum of Understanding and Cooperation. The agreement was signed by George Paresishvili, CEO of RSE Toshkent, and Medet Nazaraliev, President of KSE, on November 16, 2023, in Almaty, Kazakhstan.
This strategic partnership aims to foster close ties and mutual development between the two exchanges. It is expected to unlock new opportunities for the growth of financial markets in both Uzbekistan and Kyrgyzstan. Furthermore, it will facilitate the exchange of best practices, potentially leading to improved market operations and services.
The RSE Toshkent, based in Uzbekistan, has been actively engaging in international collaborations. It had previously signed a similar memorandum with the Moscow Exchange in 2021. On the other hand, the KSE, a key player in Kyrgyzstan’s financial market, has been working towards enhancing its trading operations.
This collaboration between RSE Toshkent and KSE is a testament to the growing interconnectivity of financial markets in the Central Asian region. It signifies a step forward in regional cooperation, with the potential to boost economic growth and stability in both countries.
The agreement also underscores the commitment of both exchanges to adapt to global best practices and standards. It is anticipated that this partnership will lead to increased market efficiency, improved investor confidence, and ultimately, the strengthening of the financial sectors in Uzbekistan and Kyrgyzstan.
The RSE Toshkent has been showing a steady growth with an average number of 411.0 points and reaching an all-time high of 3,023.2 points in August 2023. The KSE, on the other hand, has seen its market capitalization reach an all-time high of KGS 105,351.670 mn in August 2023. These statistics highlight the robust performance of both exchanges and the potential benefits of their collaboration.
Comments (0)