Shahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) received on November 27, 2007 Prof. Arnold Harberger, Chief Economic Advisor to the U.S. Agency for International Development (USAID).

Sh. Movsumov briefed about the Fund's activity, as well as the projects financed by the Fund and management of its assets.

The economic reforms, importance of oil sector in Azerbaijan, influence of huge oil revenues to our country, development of Azerbaijan's non-oil sector and other issues were discussed at the meeting.