Azerbaijan leads 6 sovereign funds to launch $520 million China-ASEAN investment council
SOFAZ and five Asian sovereign wealth funds established a joint platform focusing on industrial, tech, and consumer sectors. Trade between China and ASEAN recently surpassed $1 trillion as Southeast Asia saw record foreign direct investment.
The China-ASEAN Joint Investment Council (CAJIC) officially launched this week at the 26th China International Fair for Investment and Trade in Xiamen. Azerbaijan's state oil fund, SOFAZ, serves as one of six founding members alongside the China Investment Corporation, Thailand's Government Pension Fund, Malaysia's Khazanah Nasional Berhad, KWAP pension fund, and Indonesia's Investment Authority. Singapore-based CGS International Securities operates the council's secretariat.
The new platform aims to strengthen cooperation and deploy capital through joint initiatives like the Galaxy Orientis investment program. This program currently holds US$520 million in first-close commitments with a total target size of US$1 billion. CAJIC focuses investments in industrials, healthcare, consumer goods, business services, and technology.
The launch comes as regional trade data reaches record highs. Trade between China and ASEAN broke the $1 trillion barrier in 2025, reaching $1.05 trillion, a 7.4% increase from the previous year. Additionally, Southeast Asia attracted US$243.9 billion of foreign direct investment in 2025, representing 15% of global inflows. SOFAZ highlights Azerbaijan's strategic role on the Middle Corridor, a rail and sea route connecting Asia and Europe.
