The next meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on October 10, 2016 at the State Oil Fund of the Republic of Azerbaijan (SOFAZ).
During the meeting participants discussed EITI Validation conducted in Azerbaijan, draft text of EITI 2015 Report, the Road Map for the disclosure of information on Beneficial Ownership in extractive sector and made appropriate decisions.
EITI Secretariat made a presentation on comparative analysis of the structure of the MSG Secretariat and Multi-stakeholder Group in EITI implementing countries.
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 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.