A routine meeting of the National Committee on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan presided over by Shahmar Movsumov, the Chairman of the Comittee and the Executive Director of the SOFAZ (Stae Oil Fund of Azerbaijan), has been held today, on January 26, 2007.
Trend reports quoting a press-release being spread by SOFAZ today, that Shahmar Movsumov advised the members of the Committee on latest achievements with EITI implementation, including selection of Azerbaijan as a member of the EITI Board at the 3rd EITI Conference held in October 2006 in Oslo, establishment of the EITI Secretariat, and first EITI Board meeting held at the UN Headquarters in New York on December, 2006. The Committee Chairman mentioned that the new companies joined EITI implementation process in Azerbaijan, which was successfully progressing as a result of cooperation between the government, civil society and extractive
companies and highly appreciated by foreign states and international organizations.
He said Azerbaijan has pledged to be a first country in EITI validation process as well, which is necessary for determination of the countries implementing EITI in the way of its principles requirements. He said that more than 20 countries joined EITI, while only few of them implemented the Initiative.