The meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on November 7, 2013.
During the meeting the Working Group on Drafting of New Memorandum of Understanding on EITI presented to MSG the project of New Memorandum prepared in compliance with EITI Standard adopted at the VI Global EITI Conference held in Sydney in 2013. Meeting participants discussed and agreed major points and decided to continue works on development of the document.
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.