SOFAZ joins five Asian sovereign funds to launch $1 trillion China-ASEAN investment council
Azerbaijan's state oil fund SOFAZ is a founding member of the newly formed China-ASEAN Joint Investment Council, established to coordinate investment strategies across the region's largest economy and ASEAN bloc.
The China-ASEAN Joint Investment Council was launched at this week's China International Fair for Investment and Trade in Xiamen. Azerbaijan's state oil fund SOFAZ holds a founding seat alongside five other Asian investors: China Investment Corporation, Thailand's Government Pension Fund, Malaysia's Khazanah Nasional Berhad, the pension fund KWAP, and Indonesia Investment Authority. Singapore-based CGS International Securities manages the council's secretariat. Trade between China and ASEAN exceeded $1 trillion in 2025, reaching $1.05 trillion, an increase of 7.4% compared to the previous year. Southeast Asia attracted a record $243.9 billion in foreign direct investment that same period. SOFAZ highlighted its strategic importance on the global map due to its position on the Middle Corridor, a rail and sea route crossing the Caspian Sea connecting Asia and Europe. The European Commission allocated €10 billion under its Global Gateway programme for infrastructure in this corridor in 2024. Council leaders emphasized that physical connectivity is deepening across the region as investment initiatives expand.
