President of the National Bank of Georgia (NBG), Natia Turnava, held an online meeting with President of China’s International Payment System (CIPS), Fu Huang.

According to the NBG, the sides reviewed future cooperation prospects and summed up the current year’s progress of cooperation with CIPS by the Georgian financial sector and the National Bank, assessing 2025 as “a very prolific and productive year.”

Natia Turnava accentuated that CIPS representatives held various workshops for financial sector representatives; many Georgian commercial banks applied for direct membership in CIPS, and their applications were currently being processed.

“This year, for the first time, Georgian commercial banks applied for direct membership in CIPS, which will ensure efficiency of cooperation and exclude unnecessary intermediaries in transactions carried out in Yuan.

Work is also underway to enable other Georgian commercial banks to take advantage of this opportunity. Integration in CIPS will help diversify the cross-border payment systems used by Georgian financial institutions and will contribute to the increasing tendencies in trade and tourism between Georgia and China,” the NBG said.