Shahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) met with the delegation led by Khaltmaagiin Battulga, President of Mongolia, on September 25, 2018.

Shahmar Movsumov made a presentation on the Fund’s history, mission and goals, national oil strategy, management and budget system, management of its assets and investment policy, projects financed by SOFAZ, along with measures for maintaining transparency and accountability, macroeconomic stability and fiscal sustainability.

Visiting Azerbaijan upon the invitation of the President of Azerbaijan Ilham Aliyev, the President of Mongolia talked about current bilateral relations between Azerbaijan and Mongolia. After acquaintance with the presentation, the President Khaltmaagiin Battulga emphasized SOFAZ’s effective experience in transparent management of oil and gas revenues.

Current and future investment opportunities, perspectives for cooperation and other issues were discussed during the meeting.

The President of Mongolia highlighted the business mission of Azerbaijan to Mongolia this year in October, initiated by the President of the Republic of Azerbaijan and invited the delegation of SOFAZ to take part in this mission for exploring investment opportunities in Mongolia.

SOFAZ Executive Director expressed his gratitude for the invitation. Mr.Movsumov noted that the bilateral relations between the two countries are strong and visit of the President of Mongolia to Azerbaijan will further strengthen the current relations.

The delegation was also acquainted with the administrative building and museum of SOFAZ.