The 3rd meeting of the Extractive Industries Transparency Initiative (EITI) Board was held on September 27, 2007 in Oslo, Norway. Shahmar Movsumov, Chairman of the National EITI Committee, a member of the EITI Board and the Executive Director of the State Oil Fund of the Republic of Azerbaijan participated at the meeting.

Future activities of the Board and issues of the implementation of EITI by the different countries were discussed at the meeting. As a result 15 countries, including Azerbaijan were nominated as candidate countries. Once EITI implementation process of Azerbaijan is validated,Azerbaijan will be the first compliant EITI country.

During meeting Erik Solheim, Norwegian Minister of International Development announced that Norway will be the first Western country to fully implement the transparency principles of the Extractive Industries Transparency Initiative (EITI). Thus EITI has become the Initiative implemented both by developing and developed countries.

An international EITI secretariat established in Oslo with the support of the Norwegian authorities was officially opened on 26 September.