The Association of Professional Participants of Uzbekistan Insurance Market and the General Arab Insurance Federation (GAIF) signed a cooperation agreement on May 20. The document was signed during the seventh International Investment Financial Forum that has opened in Tashkent, Uzbekistan.

The agreement envisages the establishment of cooperation aimed at creating long-term partnership, share of experience and knowledge on insurance and reinsurance.

During the signing ceremony, the parties reaffirmed their intention to exchange information that will be useful for the two countries' insurance markets, to support each other in organizing international conferences in the insurance and reinsurance sphere.

The International Investment Financial Forum has been organized by Uzbekistan's SAIPRO information-rating agency with the official support of the country's Central Bank, in cooperation with GAIF.

The current economic status, improvement of the business environment, increasing the investment activity, development of the financial sector, including the banking, insurance and leasing spheres are expected to be discussed during the forum.

GAIF was founded in 1964 to improve the cooperation between the insurance sectors in different Arab countries and to develop the insurance system as a whole.

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UZBEK Insurers Association and Arab GAIF sign cooperation agreement