Participation of the PABSEC International Secretariat in the BSEC Working Group on Banking and Finance, 16 June 2021
Ms. Milena Ljubinkovic, Secretary of the PABSEC Economic, Commercial, Technological and Environmental Affairs Committee took part in the BSEC Working Group on Banking and Finance that was held online on 16 June 2021.
The meeting was attended by the representatives of Republic of Albania, Republic of Armenia, Republic of Azerbaijan, Republic of Bulgaria, Georgia, Republic of Moldova, Russian Federation, Republic of Serbia, Republic of Turkey and Ukraine. The representative of the Arab Republic of Egypt participated in the meeting as the BSEC Observer and the representative of Montenegro participated as Sectoral Dialogue Partner.
The meeting was chaired by Mr. Artem Timoshchenko, Attaché, Consulate General of the Russian Federation in Istanbul.
The Working Group took note of the information provided by the representative of BSEC PERMIS on the state of implementation of the Resolutions, Decisions and Recommendations of the BSEC Council of Ministers of Foreign Affairs related to banking and finance.
The participants of the meeting considered the possibilities for cooperation on acceptance of credit ratings for the financial performance of companies in the BSEC Region. In addition, the possibility of establishing a mechanism for clearing in national currencies among the BSEC Member States and broadening the national pay instruments infrastructure in the BSEC countries was examined.
The participants also exchanged views on the recent developments in the banking and finance sectors in the BSEC Member States (anti-crisis measures, reform policies and agreements concluded or under discussion), as well as the development of digital technologies in financial markets in the BSEC Member States.