AZERBAIJAN DISCLOSES 12TH EITI REPORT

Baku, May 14 (AZERTAC). The meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on Friday.

Azerbaijan has instituted a regular process of disclosing, reconciling and publishing company payments and government receipts and was designated as EITI Compliant country by EITI International Board. At the meeting Azerbaijan Government Committee on EITI announced the release of the Government`s twelfth EITI report for the year 2009 audited by Moore Stephens, the independent Aggregator. The release is accompanied by the Aggregator`s opinion based on individual submissions of extractive industry companies participating in the EITI process in Azerbaijan.

For the first time the EITI report has included gold and silver mining company`s information.

Additionally, natural and associated gas were indicated separately, and the detailed taxes were pointed out in the 12th report. Thus, this procedure extends information presented in the report.

Other issues on EITI implementation in Azerbaijan were discussed at the meeting.