Baku: A Memorandum of Understanding on cooperation has been signed between the Central Bank of Azerbaijan and the People’s Bank of China, the Central Bank (CBA) told APA-Economics. The agreement aims to establish a legal framework for cooperation between the two institutions, enhancing relations and facilitating the exchange of information on best practices.

According to Azeri-Press News Agency, the memorandum outlines plans for collaborative activities, including meetings, seminars, and business visits. These initiatives will focus on discussions concerning monetary policy, the financial sector, payment systems, and financial technologies. The partnership is expected to foster development in central banking and the financial sectors of both countries.