The National Committee on Extractive Industries Transparency Initiative (EITI) held its second meeting on February 24, 2004 at the State Oil Fund.

Members of the National Committee discussed reporting forms about payments to the national government. On the basis of the discussions a first version of the company reporting forms was drafted. It was decided that based on opinion of the Committee members the aforesaid forms will be sent to the extractive industry companies for comment.

The National Committee on EITI was established on November 13, 2003 by the Ordinance of the Cabinet of Ministers of Azerbaijan following the instruction of President Ilham Aliyev of Azerbaijan.

The Committee, chaired by the Executive Director of the State Oil Fund, includes Azerbaijan Ambassador to the United Kingdom and representatives of the ministries of foreign affairs, economic development, fuel and energy, finance, tax, ecology and natural resources, statistics and the state oil company. It is charged with the task of collecting data from state agencies, state companies and other state controlled entities concerning the revenues they receive both from foreign and national companies in connection with the extractive industries development, and preparing regular reports on extractive sector revenue.

The Republic of Azerbaijan joined EITI on June 17, 2003 at the International Conference on EITI in London.