Shahmar Movsumov: New EIT report is more comprehensive

Baku. 8 December. REPORT.AZ/ The new report on Transparency in Extraction Industry is more comprehensive than previously prepared reports when Azerbaijan was a member of Extractive Industries Transparency Initiative (EITI).

Report informs, SOFAZ Executive Director Shahmar Movsumov said during presentation of final version of the 2016 EIT report was prepared by Moore Stephens Azerbaijan audit company. He noted that the report covered all issues of the past years: “The new report includes information on Production Sharing, SOCAR's social expenditures. The main innovations in the mining industry have been added. The working group has a special role here”.

He recalled that over 20 reports have been published so far: “"As you know, in March 2017, in Bogota a decision was taken to suspend the activities of Azerbaijan in the EITI. Azerbaijan stated that it is leaving the organization and not the EITI principles.The first report on transparency outside the EITI was presented today. The President established a commission. All members of the Commission unanimously stated that this report should be more comprehensive.”.

Notably, on April 5, 2017, President of Azerbaijan Ilham Aliyev has signed a decree on additional measures to increase accountability and transparency in the extractive industries.