Baku, Azerbaijan, Feb. 26
By Maksim Tsurkov - Trend:
The State Oil Fund of Azerbaijan (SOFAZ) is confident that the status of Azerbaijan as a full member in the Extractive Industries Transparency Initiative (EITI) will be restored, a source in the fund told Trend.
In April 2015, EITI lowered the status of Azerbaijan in this structure. The decision was made at the 29th meeting in Brazzaville held April 14-15 after the discussion of the evaluation report on Azerbaijan. Following the discussions, the Board of the Extractive Industries Transparency Initiative decided to lower the membership of Azerbaijan to the candidate status.
The source in the SOFAZ said that Azerbaijan has fulfilled the main work within the measures established by the EITI Board for restoring the country's status.
Azerbaijan joined the EITI process in 2003.