Azerbaijan’s SOFAZ joins China-ASEAN Investment Council as founding member

The State Oil Fund of Azerbaijan (SOFAZ) has joined the China-ASEAN Joint Investment Council (CAJIC) as one of its founding members, SOFAZ announced.

The establishment of the council was announced during the 26th China International Fair for Investment and Trade (CIFIT) in Xiamen, China, Caliber.Az reports via local media.

In addition to SOFAZ, the founding members include the China Investment Corporation (CIC), the Government Pension Fund of Thailand, Malaysia’s sovereign wealth fund Khazanah Nasional Berhad, Malaysia’s pension fund Kumpulan Wang Persaraan (Diperbadankan), and the Indonesia Investment Authority (INA).

CAJIC was established at the initiative of CIC, with CGS International Securities Pte. Ltd. serving as its secretariat.

The council brings together sovereign wealth funds and other major institutional investors to strengthen long-term investment ties between China and Southeast Asia, exchange investment approaches, and explore opportunities for bilateral and multilateral cooperation.

Its activities will focus on three key areas: developing partnerships and strengthening institutional ties through investment forums, roundtables, and executive programs; conducting joint research and sharing knowledge and expertise; and implementing investment initiatives in areas of mutual interest under separate governance mechanisms.

For SOFAZ, the establishment of CAJIC represents a further step in expanding the fund’s investment cooperation and ties in the region.

By Vafa Guliyeva