The first meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan presided over by Shahmar Movsumov, Chairman of the MSG and the Executive Director of the State Oil Fund, was held on February 4, 2010. Shahmar Movsumov updated the members of the MSG on latest developments of EITI implementation.

The Multi-stakeholder Group work plan for 2010 was discussed at the meeting and adopted.

A number of proposals for the improvement of the process were discussed and approved.

In accordance with the agreed process the Coalition of Azerbaijan Non-Goverment Organization for Improving Transparency in Extractive Industries presented Opinion on the 11th EITI report (2009, semi-annual) and Independent Accountant's report.

The twelfth reporting cycle on implementation of EITI in Azerbaijan was launched at the meeting. The Multi-Stakeholder Group decided to send invitations to internationally recognized audit companies in Azerbaijan for the bidding procedure.

An audit company will be selected to collate the 2009 annual reports submitted by the Azerbaijan government and oil and gas companies in accordance with the EITI implementation mechanism in Azerbaijan.