The memorandum was signed on 8 February 2011 in Tokyo, Japan, within the tenth session of the Committee on developing economic cooperation between Uzbekistan and Japan.

The signed document determines actual directions on developing joint cooperation between the organizations.

In particular, the banks will cooperate in trade financing between enterprises of Uzbekistan and Japan.

Other important direction of cooperation is encouraging business opportunities between Uzbek and Japan companies at Navoi free industrial-economic zone, as well as possible allocation of funds by SMBC for over US$100 million.

Other cooperation sphere is to stimulate and organization of participation of SMBC clients in implementation of NBU projects and its subsidiary investment companies – NBU Invest Group and NBU Investment. The sides will also cooperate in technical assistance and experience exchange.

Within the cooperation of NBU and SMBC, the sides will pay special attention to projects on improving ecology, decreasing greenhouse gas emission and sustainable development of Uzbekistan.

The sides also agreed to consider issues of developing cooperation on clearing operations in Japanese yen and payment business.