The Republican Stock Exchange “Toshkent” (hereinafter RSE “Toshkent”) and Japan Exchange Group, Inc. (hereinafter “JPX”) signed a Memorandum of Understanding (hereinafter “MOU”) on April 8, 2014 in order to establish a mutual agreement on long-term cooperation and furthering stock exchange development in Uzbekistan.
JPX and RSE “Toshkent” will share their mutual knowledge and experience in order to support stock exchange development and contribute to the development of a capital market within Uzbekistan. The MOU concluded with RSE “Toshkent” is the first step in achieving this plan.
In 2013, representatives of RSE “Toshkent” and other securities market regulators visited Japan where JPX introduced an overview of the Japanese capital market, as well as JPX’s operations and trading systems. Today, RSE and JPX signed the MOU at the ceremony of RSE “Toshkent” ‘s 20th anniversary since its establishment as a stock exchange in accordance with the legislation of the Republic of Uzbekistan. With respect to the experience of Japanese stock exchanges, the signing of the MOU will bolster partnership between the parties and help to improve the securities market of Uzbekistan. The signing of the MOU provides for communication and collaboration on topical areas to exchange information on self-regulatory activities, timely disclosure, and IT infrastructure.
Mr. Atsushi Saito, CEO of Japan Exchange Group, said, “Congratulations to RSE ‘Toshkent’ on your 20th anniversary. We are very pleased to have concluded the Memorandum of Understanding with RSE ‘Toshkent.’ As Uzbekistan is a country with high prospects for economic growth, we take great pleasure in discussing our support for further development of its capital market. I am confident that the development will contribute to Uzbekistan’s overall growth and development.”
Mr. Shakhriyorov B., the Chairman of RSE “Toshkent” said, “I would like to express my gratitude to representatives from JPX coming to Tashkent. Our cooperation through this agreement is an important milestone in promotion of a strategic partnership through the exchange of experience, ideas, information, and knowledge. We hope for a continuation of successful cooperation for the benefit of our common interests, as well as a further increase in performance achieved by working together.”