oil fund

STATE OIL FUND OF THE REPUBLIC OF AZERBAIJAN

EITI International Advisory Group holds next meeting

16 Feb 2006 11:00:00

EITI International Advisory Group holds next meeting

16 Feb 2006 11:00:00
On January 16, 2006, the next meeting of the International Advisory Group (IAG) to the Extractive Industries Transparency Initiative was held in Abuja, Nigeria. Mr. Samir Sharifov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan, Chairman of the EITI National Committee and member of the IAG represented Azerbaijan government at the meeting.

The members of the IAG convened to discuss validation process of EITI implementation in the countries, which has joined EITI. Being a pilot country in implementation of EITI Azerbaijan has pledged to be a pilot validating EITI implementation as well. The parts to Memorandum on implementation of EITI in Azerbaijan have initially validated the implementation of EITI in the country, filling the draft EITI validation matrix prepared by the Department for International Development of the United Kingdom.

The IAG is to meet next on April 5 in Baku. The EITI London Conference March 17, 2005 established an IAG to guide the further work of the International EITI Secretariat on defining and refining proposals on the future of the EITI. IAG consists of senior representatives from countries implementing EITI, companies, NGOs, and donors. It is supported by a Secretariat based in the Department for International Development.

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