Georgian National Bank Governor highlights drive to interest Chinese banks in local market

During her visit to Basel for the 95th Annual Meetings of the Bank for International Settlements, Natia Turnava, the Governor of the National Bank of Georgia, met with Pan Gongsheng, the Governor of the People's Bank of China. The discussion focused on the progress of cooperation between the two central banks, as Turnava revealed.

In her interview with Imedi TV, Turnava noted that a memorandum with the People's Bank of China had been signed during the visit of the NBG delegation to China.

“I met with the President of the People's Bank of China, Pan Gongsheng, with whom I discussed the progress of cooperation between the National Bank of Georgia and the People's Bank of China”, she noted.

“In Basel, during the meeting with Pan Gongsheng, we exchanged information on the progress made within the framework of the memorandum signed between our banks. We are actively working with Chinese banks to increase their interest in the Georgian market”, Turnava continued.

She added that the President of CIPS (Cross-border Interbank Payment System), China's largest state payment system, was expected to visit Georgia in the coming days.

“We have made progress in several directions. There are also areas where I would like more support and faster cooperation. We discussed this as well. In March, a memorandum of understanding was signed between the National Bank of Georgia and the Central Bank of China to expand and strengthen bilateral cooperation. The memorandum covers collaboration in the field of monetary policy, as well as the exchange of information and experience in financial technologies, payment systems, and the development of the securities market”, Turnava concluded.