General information

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) cooperates with international organizations, financial institutions and banks and is recognized by the world organizations as a reliable and trusted partner. SOFAZ’s development areas in international relations and its objectives can be classified as follows:

1.

Cooperation with international financial institutions

2.

Cooperation in study and sharing of experience

3.

Cooperation in enhancing existing partnership relations

SOFAZ's dynamic economic development grows the attention and interest of international financial institutions. Experts of international financial institutions, including the International Monetary Fund and the World Bank regularly visit SOFAZ. During the visits they exchange views about the growth patterns of SOFAZ's assets, its place and position in the development of the country's financial system and macroeconomic regulation policy, possibilities and options of using modern regulatory and financial mechanisms and SOFAZ's investment policy.

Applying the best international practices, learning and sharing experience is specifically essential for the development and promotion of SOFAZ's international relations. Since its establishment SOFAZ has been continually exploring the best international practices for the improvement of the legal and regulatory framework and the application of methodologies for evaluating the effects of oil revenues on macroeconomic dynamics. Implementation of advanced and modern economic mechanisms is particularly important in this field.