EITI-logoThe meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on January 24, 2014 for the first time in current year.During the meeting The Coalition of Azerbaijani Non-Government Organizations for Improving Transparency in Extractive Industries introduced new members for the year 2014 to the MSG. Meeting participants held discussions on the opinion of the Coalition on the final draft of the New Memorandum, the opinion of the Moore Stephens company on the adjusting of the Terms of References (which defines activities of the independent auditor who reconciles EITI reports) to EITI Standards and other issues.

EITI is a special multilateral and voluntary initiative, supported by a coalition of companies, governments, investors and civil society organizations and global standard for improved transparency in the oil, gas and mining sector. Azerbaijan joined EITI in 2003. Azerbaijan is the first ever country to complete validation process and designated as EITI Compliant Country. Azerbaijan was awarded the “2009 EITI Award” for its commitment to EITI principles and criteria and achievements in EITI Implementation.