Baku, Azerbaijan, Dec.8
By Maksim Tsurkov - Trend:
The first report on transparency in the extractive sector prepared by Azerbaijan beyond the Extractive Industries Transparency Initiative (EITI) is even more detailed than the reports created during the EITI membership period, Head of the State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov said.
Movsumov made the remarks in Baku Dec. 8 during the presentation of the final report on transparency in the Azerbaijani extractive industry for 2016, prepared by Moore Stephens.
He said that during the period when Azerbaijan was an EITI member, the country regularly made the data on transparency public.
"During this period, we prepared more than 20 reports within the EITI,” he said. “Nevertheless, Azerbaijan faced double standards and prejudiced position in the organization. As a result, a decision was made to withdraw from EITI.”
“Azerbaijani President Ilham Aliyev signed a decree on additional measures in early April 2017 in connection with an increase in reporting and transparency in the extractive industry, the main item of which was the establishment of the Extractive Industries Transparency Commission.”
"We attracted the international auditor and included the new data into the report,” he said. “Social expenditures of Azerbaijan’s state oil company SOCAR, information on PSA are described in details. Azerbaijan remained committed to the principles of transparency."