Meeting on implementation of Extractive Industries Transparency Initiative was held

Baku. 10 December. REPORT.AZ/ The meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on December 9, 2014 in the State Oil Fund of the Republic of Azerbaijan (SOFAZ).

Report informs referring information given by SOFAZ, organization and realization processes of Extractive Industries Transparency (EITI) validation in Azerbaijan and other related issues were discussed at the meeting.

EITI is a special multilateral and voluntary initiative, supported by a coalition of companies, governments, investors and civil society organizations and global standard for improved transparency in the oil, gas and mining sector. Azerbaijan joined EITI in 2003. Azerbaijan is the first ever country to complete validation process and designated as EITI Compliant Country. Azerbaijan was awarded the "2009 EITI Award" for its commitment to EITI principles and criteria and achievements in EITI Implementation.