Statement made by Director General Martin Skancke, Asset Management Department, Royal Norwegian Ministry of Finance, at Roundtable on the Santiago principles for Sovereign Wealth Funds

Press Release No. 08/12
October 11, 2008

• We have been reminded these last weeks that building trust is important, particularly in times of financial market unrest. The International Working Group of Sovereign Wealth Funds has done exactly that — made a serious effort to build trust.

• The drafting process has been characterized by a sincere commitment on the part of investor countries, as well as a broad degree of involvement by recipient countries. Norway had the pleasure of making a small contribution, and hosted a drafting meeting in Oslo in June. We greatly appreciate the cooperation of the IWG member countries, and are very grateful for the efforts of the two co-chairmen and the chair of the drafting group.

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