The meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on October 2, 2012, a report spread by State Oil Fund of Azerbaijan (SOFAZ) on Wednesday stated.
According to the report, 2013 EITI Work plan, holding an EITI International Conference on the occasion of the 10th anniversary of EITI implementation in Azerbaijan, preparation for National Exhibition in the framework of VI EITI Global Conference which will be held in Sydney and other issues on EITI implementation in Azerbaijan were discussed and appropriate decisions were made at the meeting.
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.