A meeting of the Committee on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan presided over by Shahmar Movsumov, Chairman of the Committee and the Executive Director of the State Oil Fund, was held on February 15, 2008. Shahmar Movsumov updated the members of the Committee on latest achievements with EITI implementation. He noted that on February 13, 2008 Resolution drafted by the government of Azerbaijan was submitted to the UN Secretariat and the discussions on it have already been started.

The Chairman mentioned that all extractive sector companies operating in the country now are the stakeholders of EITI implementation process in Azerbaijan. He also stressed out that, EITI implementation in Azerbaijan is successfully progressing as a result of cooperation between the government, civil society and extractive companies and it has been commended by international community and international organizations.

Also proposals on the changes to the Memorandum of Understanding on implementation of the Extractive Industries Transparency Initiative in Azerbaijan made by the Coalition for Improving Transparency in Extractive Industries were discussed during the meeting.