EITI Commission held a meeting at SOFAZ

Baku. 8 April. REPORT.AZ/ The meeting of the Commission on the Extractive Industries Transparency Initiative (EITI) in Azerbaijan with the new members approved by the Ordinance No.69s of the Cabinet of Ministers of the Republic of Azerbaijan, dated February 2, 2016, was held under the chairmanship of the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) Shahmar Movsumov on April 8, 2016, Report was told in the SOFAZ.

According the Ordinance members of the following state entities are included to the Commission: SOFAZ, State Oil Company, Ministry of Taxes, Ministry of Economy, Ministry of Energetics, Ministry of Finance, Ministry of Ecology and Natural Resources, Ministry of Foreign Affairs, Ministry of Labor and Social Protection, and State Statistics Committee.

During the meeting, Azerbaijan EITI Secretariat gave general information to the members and also made a presentation on current situation and new possibilities. Besides, participants discussed the election of the Commission members to the Multi-Stakeholder Group (MSG), coordination of the activities of members within MSG and other issues.

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 was awarded the "2009 EITI Award" for its commitment to EITI principles and criteria and achievements in EITI Implementation.