Natia Turnava, Acting Governor of the National Bank of Georgia, participated in the Central Asian Regional Economic Cooperation Program (CAREC) working meeting, the purpose of which is to discuss ideas for fintech cooperation between CAREC countries.
Levan Davitashvili, First Vice Prime Minister and Minister of Economy and Sustainable Development, opened the event with a welcome speech. The two-day working meeting was also attended by the representatives of the countries of the Central Asian Regional Economic Cooperation Program, the heads of the Asian Development Bank and other representatives of the financial and banking sector.
Natia Turnava stated that holding the event in Georgia is a testament of the strong partnership between Georgia and the Asian Development Bank (ADB), emphasizing the significance of fintech for regional cooperation.
“Georgia has historically been instrumental in connecting the East and West, facilitating knowledge, cultural, economic, and technological exchanges through a network of trade agreements. Today, Georgia's position remains the same, as it serves as an axis for trade, energy, digital, transportation, financial and logistics services along the Middle Corridor. In order to maintain its current role in the future, Georgia is working to align its payment infrastructure and regulatory frameworks, such as banking legislation, with the EU. Simultaneously, it is reaffirming its commitment to the CAREC program by continuously enhancing its FinTech sector and exploring opportunities for regional cross-border financial cooperation," noted Natia Turnava during her address.
Acting Governor of the NBG recalled the shared the vision of the FinTech as a “public good” within the CAREC countries, noting that the development of FinTech should be shared and jointly facilitated.
"Collaboration between regulators and stakeholders in the FinTech domain as well as enhanced financial systems integration can pave the way for regional payment and settlement systems interlinkage, ultimately boosting trade facilitation and global financial integrity.," expressed Natia Turnava.
Acting Governor also noted that in recent years, the National Bank of Georgia has made remarkable strides, positioning itself as a leading institution in the region with advanced technology and a strong financial system.
