Bank Of Baku

SOFAZ Executive Director meets with US Deputy Secretary of Energy

SOFAZ Executive Director meets with US Deputy Secretary of Energy
# 05 October 2009 14:55 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. Shahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) hosted on Monday the delegation led to the country by US Deputy Secretary Daniel Poneman.

Mr. Movsumov briefed the guests on the Fund’s activity, management of its assets, major projects financed by the Fund. He talked about SOFAZ’s leading role in implementation of the Extractive Industries Transparency Initiative (EITI).

Mr. Poneman appreciated Fund’s achievements in implementation of EITI and SOFAZ’s transparency in its activities.

The current economic relations between Azerbaijan and US, development perspectives of these relations, activity of Sovereign Wealth Funds, development of Azerbaijan’s non-oil sector and other issues were discussed at the meeting.
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