Azerbaijan’s SOFAZ, Chinese investment corporation enhance strategic partnership

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) is poised to strengthen its strategic partnership with the China Investment Corporation (CIC).

This development follows a recent meeting between Israfil Mammadov, Executive Director of SOFAZ, and Peng Chun, Chairman of CIC, Caliber.Az reports per local media.

The discussions focused on deepening mutual cooperation and expanding the scope of their partnership. Both parties expressed a strong interest in enhancing their collaboration and exploring new investment opportunities.

The China Investment Corporation also highlighted that the meeting covered interagency cooperation across various sectors, the advancement of the International Forum of Sovereign Wealth Funds, and potential investment ventures.

Established in 1999, SOFAZ manages revenues generated from Azerbaijan's international oil and gas projects. The fund’s collaboration with CIC represents a significant step in broadening its global investment network and furthering its strategic objectives.