The meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on November 12, 2010.

In accordance with the agreed process the Coalition of Azerbaijan Non-Government Organization for Improving Transparency in Extractive Industries presented Opinion on the 13th EITI report (2010, semi-annual) and Independent Accountant's report.

In addition the Multi-stakeholder Group work plan for 2011 was discussed and agreed at the meeting.

At the same time it was noted that in order to bring confidence into the EITI implementation process in Azerbaijan at it's initial stages reports were disclosed two times a year (semi-annual and annual). Presently, taking into consideration achievements in EITI implementation in Azerbaijan and the fact that other EITI implementing countries are disclosing reports only once a year, it was decided at the meeting to switch from twice-a-year reporting (where semi-annual and annual reports were prepared) to once-a-year annual EITI reporting.

Other issues on EITI implementation in Azerbaijan were discussed at the meeting.

EITI is a special multilateral and voluntary initiative, supported by a coalition of companies, governments, investors and civil society organizations and global standard for improved transparency in the oil, gas and mining sector. Azerbaijan joined EITI in 2003. Azerbaijan is the first ever country to complete validation process and is designated as EITI Compliant Country. Azerbaijan was awarded the "2009 EITI Award" for its commitment to EITI principles and criteria and achievements in EITI Implementation.