AKIPRESS.COM - President of Mongolia Khaltmaa Battulga visited the State Oil Fund, a sovereign wealth fund of Azerbaijan, and got acquainted with its operations on September 25 during his working trip to Azerbaijan.

CEO Shahmar Movsumov welcomed the Mongolian delegation led by President Battulga and introduced the functions of the Fund.

According to Movsumov, the Fund collects natural resources income and ensures transparency of the expenditure. He said that experience-sharing was fully possible, while advising that “With its rich natural resources, Mongolia needs to establish this type of fund.”

Established in 1999, the State Oil Fund of Azerbaijan is mainly responsible for accumulating oil and gas revenues and managing the funds efficiently for the future.