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EITI Multi Stakeholder Group holds meeting

26 November 2013 08:49 (UTC +04:00)

Baku – APA-Economics. The meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on November 25, 2013.

During the meeting the MSG members decided to submit further proposals on 2014 EITI Work plan accepted as a basis for the final approval at the next meeting. Meeting participants continued discussions on the New Memorandum of Understanding on EITI prepared by the Working Group in compliance with EITI Standard adopted at the VI Global EITI Conference held in Sydney in 2013.

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.