Uzbekistan and Russia Expand Cooperation in Financial Management

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan and Russia are expanding bilateral cooperation in public financial management and treasury services during an official delegation visit to Uzbekistan from 18 August 2026 to 21 August 2026 led by Deputy Head of the Federal Treasury of Russia Alexander Mikhailik, according to the Ministry of Economy and Finance of Uzbekistan.

During the visit, representatives from the Russian Federal Treasury and the Treasury Service Committee under the Ministry of Economy and Finance of Uzbekistan discussed centralizing accounting processes in state-funded organizations, managing budget accounting, and improving financial reporting systems. Discussions also focused on digitalizing public financial management and integrating modern information technologies into treasury operations.

Bilateral treasury collaboration operates under a Memorandum of Technical Cooperation signed in 2017 between the Federal Treasury of Russia and the Ministry of Economy and Finance of Uzbekistan, alongside a Joint Cooperation Program covering 2024 through 2026. Partnership activities are further guided by a second Memorandum of Technical Cooperation signed on 9 December 2024 between the Russian Federal Treasury and Uzbekistan's Treasury Service Committee.

During the delegation's stay, officials plan to draft a new trilateral cooperation program for the 2027–2029 period. According to the Ministry of Economy and Finance of Uzbekistan, the meetings aim to strengthen operational ties between the treasury authorities of both nations and implement advanced practices within public finance administration.