Azerbaijan, Baku, April 27 / Trend , I.Khalilova/
The State Oil Fund of Azerbaijan (SOFAZ) will join an initiative to form the International Forum of Sovereign Wealth Funds whose first meeting will take place in Baku in October, SOFAZ Executive Director Shahmar Movsumov said on April 27.
"There are a lot of funds similar to SOFAZ in the world, including in Saudi Arabia, United Arab Emirates, Alaska, Norway Kuwait, Russia, Kazakhstan and Latin America to which an interest has increased recently," Movsumov said. "Regarding this, sovereign funds initiative to form a forum and it was decided to form it with 20 funds' participation in Kuwait, where I attended."
Movsumov said the participants adopted a declaration to form the International Forum of Sovereign Wealth Funds. The organization launched its activity in 2009 and its meeting will take place once a year. Meetings will focus on issues on sovereign funds.
"The first meeting will take place in Baku in October as part of the forum where senior officials of the world's sovereign funds," Movsumov said.
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