The delegation headed by the Executive Director of the State Oil Fund of the Republic of Azerbaijan Shahmar Movsumov participated at the meeting of the International Working Group of Sovereign Wealth Funds (IWG) which was held on 5-6 April, 2009 in Kuwait.

The IWG announced the establishment of the International Forum of Sovereign Wealth Funds. The Forum is a voluntary group of SWFs.

The Forum will conduct its inaugural meeting in Baku, Azerbaijan in October 2009, hosted by the State Oil Fund of the Republic of Azerbaijan and the Government of Azerbaijan.