Baku hosts EITI Multi Stakeholder Group meeting
A meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on March 13, AzerTag state news agency reported.
The meeting mulled draft text of the EITI Activity Report 2013, collection of contextual information on extractive industries, NGO Coalition proposals on reporting templates and draft of the New Memorandum.
The participants have also discussed adjustment of the Terms of References (which defines activities of the independent auditor who reconciles EITI reports) to EITI new Standard.
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.