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26.03.2014 15:54

EITI Multi Stakeholder Group holds meeting

Baku. Vahab Rzayev Ė†APA-Economics. The meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on March 13, 2014.

Draft text of the†EITI†Activity Report 2013, collection of contextual information on extractive industries, NGO Coalition proposals on reporting templates and draft of the New Memorandum were discussed during the meeting. Meeting participants have also discussed adjustment of the Terms of References (which defines activities of the independent auditor who reconciles†EITI†reports) to†EITI†new Standard.

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.

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