OREANDA-NEWS. June 06, 2008. A routine meeting of the National Committee on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan presided over by Shahmar Movsumov, Chairman of the Comittee and the Executive Director of the State Oil Fund, was held on January 26, 2007, reported the press-centre of SOFAZ.

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.

He said that participating at the Board meeting he had notified on Azerbaijan government’s intention of forwarding a resolution to the UN General Assembly supporting EITI. The Committee Chairman mentioned that the new companies were joined in 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 as its principles require. He said more than 20 countries have been joined EITI, while only few of them were implementing the Initiative.