Annual report on EITI implementation in Azerbaijan for the year 2011 published

Annual report on EITI implementation in Azerbaijan for the year 2011 published
# 02 July 2012 15:48 (UTC +04:00)
Baku – APA-Economics. On 29 June 2012 the first annual report on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan for the year 2011 was published.

The report is published based on new rules on EITI adopted at the V Global EITI Conference in Paris in 2011. Taking into account that such document is drawn up for the first time in Azerbaijan, along with information on actions performed in 2011 this report contains EITI philosophy, history of its implementation in Azerbaijan, analysis of 15 released EITI reports and achievements. The report also reveals opinions of EITI stakeholders – Committee on EITI, Coalition of Azerbaijan Non-Government Organizations for Improving Transparency in Extractive Industries and representatives from Group of Companies.

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 is 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.
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THE OPERATION IS BEING PERFORMED