TASHKENT, Uzbekistan, August 24. The central banks of Uzbekistan and Azerbaijan are discussing the integration of payment systems, and payment companies from both countries are already in talks regarding practical cooperation.

This was stated by Timur Ishmetov, Governor of the Central Bank of Uzbekistan, in response to a question from Trend’s special correspondent during a press briefing held as part of the Silk Road Finance & Technology Forum.

According to Ishmetov, the central banks of the two countries are already cooperating through various platforms and have several areas of interaction.

“We are already in practical talks with the Central Bank of Azerbaijan, for example, on integrating our payment systems. A couple of our payment companies are also already in talks with companies in Azerbaijan on integration,” Ishmetov said.

He noted that he expects practical results from this cooperation in the near future.

According to the Central Bank chairman, cooperation in financial technology can help create a larger regional market for businesses, particularly startups and fintech companies.

“There is an area, especially financial technology, where cooperation is a win-win strategy for everybody. Instead of each country focusing on its own market, we can cooperate and open up the markets for all our businesses, especially startups, fintechs and technology companies,” he said.

Ishmetov emphasized that cooperation between the two countries would allow them to exchange experience and create broader opportunities for the development of financial technologies across the region.