ECONOMY


Azerbaijan`s State Oil Fund hosts meeting of EITI Multilateral Group

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Baku, April 6, AZERTAC

A meeting of the Multilateral Group on application of Extractive Industries Transparency Initiative (EITI) in Azerbaijan has been held at the State Oil Fund.

The meeting discussed a process of assessment conducted in Azerbaijan, EITI Annual Action Plan for 2014, issues on application of EITI in Azerbaijan, as well as a project of working plan of the Multilateral Group for 2015.

The EITI is an international organisation which maintains a standard, assessing the levels of transparency around countries` oil, gas and mineral resources. This standard is developed and overseen by a multi-stakeholder Board, consisting of representatives from governments, extractives companies, civil society organizations, institutional investors and international organizations. Azerbaijan joined the EITI in 2003.

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