ASTANA — In a move set to bolster global financial collaboration, the Asia-Pacific Association of Central Securities Depositories (ACG) will hold its 26th Annual General Meeting in Almaty next year, Kazakhstan Central Securities Depository announced in a press release on Nov. 1.
The event will bring together 38 depository, stock exchange, and clearing organizations hailing from countries across the globe, including China, Japan, Korea, Taiwan, India, Iran, Pakistan, Uzbekistan, Mongolia, Indonesia, Vietnam, Nepal, and Sri Lanka.
The selection of Almaty for the ACG Annual Meeting marks Kazakhstan as an emerging investment and depository hub in the region, fortifying collaborations with Asia-Pacific countries and the growth of the country’s securities market.
Adil Mukhamejanov, the Management Board Chair of the Kazakhstan Central Securities Depository, remarked that this decision underscores the strong trust and acknowledgment of Kazakhstan as a significant player in the region.
“For us, this event is an opportunity to showcase the potential of Kazakhstan and increase interest across the entire Central Asia region,” he said.
The recent 25th Annual General Meeting of the ACG held in Da Nang, Vietnam, featured Yedil Medeu, Deputy Chairman of the Management Board of the Central Securities Depository, as a keynote speaker. Medeu highlighted the significance of Asian securities markets in the global financial landscape, highlighting Kazakhstan’s role as a key player in Central Asia with an investment-grade sovereign credit rating.
“We proudly position ourselves as the largest economy in the Central Asian region and the only country in this territory with an investment-grade sovereign credit rating. We are also proud to be part of a growing Asia,” he said.
The Kazakhstan Central Securities Depository has observed a rising interest from both local and foreign investors in Asian capital markets, The depository aims to intensify collaborations with Asian markets and central securities depositories.
The hosting of ACG in Almaty in 2024 is anticipated to catalyze the development of securities markets in the region, fortify economic and financial bonds between nations, and elevate Kazakhstan and Central Asia’s international prominence in Asia.
With over 150 representatives from the Asia-Pacific securities market set to attend, the event is poised to create significant momentum for financial collaboration and exchange of insights among nations.
Established in November 1997, the ACG aims to foster information exchange and mutual assistance among securities depositories and clearing organizations in the Asia-Pacific region.