EITI Standards to be Introduced into Gold and Iron Ore Mining

Business Materials 19 April 2007 20:37 (UTC +04:00)

Azerbaijan, Baku / TrendCapita corr U. Ismaylova / Gubad Ibadoghlu, the head of the Economic Research Centre, reported on 19 April that the standards of the Extractive Industry Transparency Initiative (EITI) would be introduced into gold and iron ore mining.

The EITI is aimed at achieving transparency, decreasing corruption in the extractive industry, as well as intensification of public control over the rational utilization of natural resources. "The talks with international organizations on implementation of the strategic plan are under way," Mr. Ibadoghlu said.

The head of the Economic Research Centre who is also editor-in-chief of Expert magazine, Gubad Ibadoghlu, replaced the former chairman of the Coalition of EITI, an NGO on 25 January 2007.