oil fund

STATE OIL FUND OF THE REPUBLIC OF AZERBAIJAN

SOFAZ Executive Director meets with NGO Coalition members

12 Jun 2006 11:00:00

SOFAZ Executive Director meets with NGO Coalition members

12 Jun 2006 11:00:00
Shahmar Movsumov, Executive Director of the State Oil Fund of the Republic of Azerbaijan met on June 2006 with members of the non-governmental organizations’ Coalition for Increasing Transparency in Extractive Industries. Outlining the achivements gained in implementation process of the Extractive Industries Transparency Initiative the NGO representatives made their proposals about further activities in this field. Mr. Movsumov praised the cooperation between the National Committee on EITI and NGO Coalition and expressed his hope in continuity of this process.
The Azerbaijan government’s pledge to continue its policy on implemention of EITI commitments also was prompted during the discussions.

Azerbaijan has publicized three EITI reports since the country joined the Initiative on November 2003 and the Memorandum of Understanding was signed between the National Committee on EITI, the extractive industry (oil and gas) companies operating in Azerbaijan and the NGO Coalition on November 2004. The fourth reporting cycle is underway at present.

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