COMMISSION ON EITI CONVENES MEETING

The Commission on the Extractive Industries Transparency Initiative (EITI) held its meeting Friday at the State Oil Fund of the Azerbaijan Republic.

Chairman of the Commission, SOCAR executive director Shahmar Movsumov told of the accomplishments achieved in EITI application in Azerbaijan. He said the government of Azerbaijan submitted the draft resolution on EITI to the UN secretariat on Wednesday.

According to Movsumov, all 26 oil and gas producing companies became parties to the Memorandum of Understanding on EITI. The world community and international organizations praised successful EITI application in Azerbaijan, which involved civil society, local and foreign extractive companies.

The meeting also discussed the proposals on amendments to the MOU on EITI put forth by the Coalition on Improving Transparency in Extractive Industries