Azerbaijan, Baku, Feb. 26 / Trend , E.Ismayilov/
Azerbaijan became the first full member of the Extractive Industries Transparency Initiative (EITI) among 26 candidates. Azerbaijan meets EITI principles, State Oil Fund of the Azerbaijan Republic (SOFAZ) Executive Director Shahmar Movsumov said on Feb. 26.
"Azerbaijan was approved as a full EITI member at the fourth international conference in Doha, Qatar," Movsumov said.
Azerbaijan was awarded at the EITI 2009 event.
Azerbaijan was also elected a member of the EITI international management.
Before March 2010, the remaining 25 countries will be evaluated.
Full member status proves that Azerbaijan's oil-and-gas revenues are transparent.
The status will influence the country's international image, loan rating and attractiveness for investors.
The tenth report by the International Auditing Company Deloitte will also be developed.
Deloitte composed reports for 2003, 2004, 2005 and the first half of 2006.
AGN Mak Azerbaijan developed a report for the first half of 2005.
Moore Stephens International Auditing developed reports for 2006, 2007 and the first half of 2008.
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