Azerbaijan, Baku, Sept. 23 / Trend , I.Khalilova/
International Forum of Sovereign Wealth Funds (IFSWF) will convene its inaugural meeting in Baku, Azerbaijan on October 8-9, 2009, hosted by the State Oil Fund of the Republic Azerbaijan (SOFAZ) and the Government of the Republic of Azerbaijan, the SOFAZ reported on Sept. 23.
The meeting of senior representatives of Sovereign Wealth Funds (SWF) from more than 20 countries across the world will review developments in the global economy and financial markets, and agree on a work agenda going forward. IFSWF will issue a brief communiqué and hold a press conference at the conclusion of the Baku meeting.
Earlier, the Executive Director of the SOFAZ, Shahmar Movsumov said there are many funds, such SOFAZ, including in Saudi Arabia, UAE, Alaska, Norway, Kuwait, Russia, Kazakhstan, Latin America, to which interest has recently increased . Given this interest, sovereign funds have made the idea of a forum, and it was established on April 5-6 in the Kuwait meeting of a working group of the international forum of sovereign funds.
It starts to work this year. Once a year, the meeting will be held under the forum which will discuss issues related to sovereign funds.
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