Azerbaijan, Baku, May 13 / Trend /
Beijing will host a regular meeting of the International Forum of Sovereign Wealth Funds (IFSWF) in April 2011, the State Oil Fund of Azerbaijan Republic (SOFAZ) reported. This was decided at the fund's meeting which took place in Sydney (Australia) May 6-8.
The Azerbaijani delegation headed by SOFAZ Executive Director Shahmar Movsumov attended the IFSWF's second meeting. Senior officials from 22 SWFs, and representatives of recipient countries and international organizations participated in this meeting. Issues like progress in application of Santiago principles, the important role SWFs play both in their home countries and countries they invest, impact of current regulation environment and investment regimes on these types of Funds were discussed during this meeting.
According to Movsumov within a short period of time since the inception of the Forum, there have been significant progresses in realization of the main missions of the Forum. Forum has become an effective platform for informal exchange of experiences and best industry practices among the SWFs and facilitating dialogue with recipient countries.
Delegation headed by Movsumov also had meetings with the GIC Group President, Lim Siong Guan in Singapore May 4 and Chairman of the Australian Government Future Fund, David Murray in Sydney May 10.
The main topics discussed during the meetings were the importance of the creation of these Funds, their goals and objectives, significant role they play in the economies of their home countries, strategic asset allocation for SWFs, etc.
The IFSWF held its first meeting in Baku in Oct.8-9, 2009.