Tashkent, Uzbekistan (UzDaily.com) — President of the Republic of Uzbekistan Shavkat Mirziyoyev has signed a law ratifying Uzbekistan's accession to the Agreement on the Establishment of the Eurasian Development Bank.

Under this law, Uzbekistan has joined the international agreement signed on 12 January 2006, in Astana. The primary objective of the Agreement is to stimulate economic growth among member states and strengthen their trade and economic ties through active investment attraction.

The document stipulates that the Eurasian Development Bank's activities will be carried out in accordance with international treaties, international law norms, and generally accepted banking standards. The bank's charter, an integral part of the agreement, defines the main directions of work, key goals and tasks, functions, provided privileges, as well as the size and conditions for forming its authorized capital.

Additionally, the bank will be granted the authority to collect, systematize, and analyze data on the economic situation, financial markets, investment potential, as well as monetary, credit, and exchange relations of member states, including the legislative aspects of banking activities and currency regulation.