Left: Naranjogt Sambuu and Pan Gungsheng
At the meeting, which took place in a friendly and businesslike atmosphere, key issues capable of elevating the strategic cooperation between the central banks of the two countries to a new level were discussed, as confirmed by the consensus of the participants, reports MiddleAsianNews.
Main discussion topics:
- Advantages of currency swaps and foreign trade: Participants discussed ways to improve the existing currency swap agreement, which has been in effect since 2011, that not only supports liquidity but also promotes trade turnover between the countries and payments in national currencies. The parties agreed on the need for joint efforts to align the currency swap agreements with best practices used in countries such as Korea and Turkey.
- Modern payment systems: Naranjogt Sambuu presented the concept of transitioning to digital payment systems, calling for expanded cooperation on projects such as mBridge, aimed at increasing the speed and reducing the cost of cross-border payments.
- Regional financial stability: The parties noted the necessity of joint efforts to improve the consistency of macroeconomic policy and support financial stability against the backdrop of global economic uncertainty.
Speaking at the meeting, Naranjogt Sambuu stated: "Cooperation between the central banks of our countries is based on trust, and I am confident that our negotiations will create a solid foundation for further trade, investment relations, and sustainable economic growth."
As a result of the meeting, the parties agreed on the necessity of further strengthening friendly ties and activating effective cooperation.
