ECONOMY


Executive Director of SOFAZ attends 30th EITI Board Meeting in Switzerland

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Baku, October 22 AZERTAC

Chairman of the National EITI Commission, a member of the EITI International Board and the Executive Director of the State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov is attending the 30th Extractive Industries Transparency Initiative (EITI) Board Meeting in Bern, Switzerland.

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.

The EITI is an international organization which maintains a standard, assessing the levels of transparency regarding 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.

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