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The International Working Group of Sovereign Wealth Funds (IWG) announced the establishment of the International Forum of Sovereign Wealth Funds. The Kuwait Declaration states that the Forum will meet at least once a year to exchange views on issues of common interest and facilitate an understanding of the Santiago Principles and SWFs’ activities.
The Forum welcomed the G-20 Communiqué and the desirability of a new global consensus on the key values and principles that will promote sustainable economic activity. The Forum noted, in particular, the pledge to do whatever is necessary to promote global trade and investment and reject protectionism, to underpin prosperity.
The Forum will operate in an inclusive manner and facilitate communication among SWFs, as well as with relevant recipient country officials, the European Commission, the OECD, representatives of other multilateral organizations, and the private sector.