ECONOMY


Extractive Industries Transparency Commission holds meeting

Baku, June 8, AZERTAC

Extractive Industries Transparency Commission (EITC) has held a meeting at the State Oil Fund of the Republic of Azerbaijan.

During the meeting the result of the request for proposals on selection of the company for reconciling and analyzing the reports on payments of local and foreign extractive companies and government receipts was discussed.

According to the legislation of the Republic of Azerbaijan 10 internationally recognized audit companies operating in the country were invited to bid and 4 (RSM Azerbaijan, Moore Stephens Azerbaijan, BDO Azerbaijan, Baker Tilly Azerbaijan) of them sent their proposals. EIT Commission assessed the proposals of the bidders. According to the results Moore Stephens Azerbaijan will prepare 2016 EIT report.

Representatives of civil society, foreign embassies, regional representatives of international financial organizations and members of local and foreign extractive companies operating in Azerbaijan participated in the meeting.

During the meeting EITC’s Secretariat made presentations regarding the Opinion of extractive companies on draft Agreement on collaboration of EITC with local and foreign extractive companies and on initial vision regarding potential web site of the Commission.

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