Delegation headed by Executive Director of the State Oil Fund of the Republic of Azerbaijan Shahmar Movsumov participated at the fourth meeting of the International Forum of Sovereign Wealth Funds (IFSWF), held on September 5-7, 2012, in Mexico City, Mexico.

IFSWF advanced on its commitments made in Beijing in May 2011 by discussing the IFSWF members application of the Santiago Principles, risk management and the investment environment, commitment to an open investment environment, as well as making progress on its internal governance issues.

The International Forum of Sovereign Wealth Funds (IFSWF) was established by the International Working Group of Sovereign Wealth Funds (IWG), meeting in Kuwait City on April 5-6, 2009 and had its first inaugural meeting in Baku on October 8-9, 2009. IFSWF is a voluntary group of Sovereign Wealth Funds (SWFs), which meets, exchanges views on issues of common interest and facilitates an understanding of the Santiago Principles and of SWF activities.