SOFAZ becomes founding member of China-ASEAN Joint Investment Council

The State Oil Fund of Azerbaijan (SOFAZ) has become one of the founding members of the China-ASEAN Joint Investment Council (CAJIC), Report informs referring to SOFAZ.

The creation of the council was announced during the 26th China International Fair for Investment and Trade (CIFIT) held in Xiamen.

Along with SOFAZ, the founders of CAJIC include the China Investment Corporation (CIC), the Government Pension Fund of Thailand, Malaysia's sovereign wealth fund Khazanah Nasional Berhad, the Malaysian pension fund Kumpulan Wang Persaraan (Diperbadankan), and the Indonesia Investment Authority (INA).

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

CAJIC brings together sovereign wealth funds and other leading institutional investment organizations to strengthen long-term ties between China and Southeast Asia, share investment approaches, and explore opportunities for bilateral and multilateral cooperation.

The council's activities will cover three main areas: developing partnerships and strengthening institutional ties through investment forums, roundtables, and executive programs; conducting joint research and sharing knowledge and experience; and implementing investment initiatives in areas of mutual interest based on separate governance mechanisms.

For SOFAZ, the establishment of CAJIC marks another stage in the development of the fund's investment ties in the region.