Azerbaijan, Baku / corr. Trend I.Khalilova / Shahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) met on 13 June 2007 with the delegation headed by Jeannot Krecke, the Luxembourg Economic and Foreign Trade Minister.
SOFAZ's activity, including issues about its assets' management and projects financed by the Fund was discussed at the meeting. Mr. Movsumov informed the guests about the role of SOFAZ in the country's macroeconomic stability and implementation of the important social and infrastructure projects. He briefed the delegation on the Fund's assets investment in foreign financial markets and management strategy. Azerbaijan's worldwide leading role in implementation of the Extractive Industries Transparency Initiative was also discussed at the meeting.
The Chairman of the Luxembourg's State Export Insurance Company, the representatives of the Luxembourg Grand-Duchy Trade Chamber, Fond Industry Association, and about ten businessmen from the country participated in the meeting.