On Saturday Baku hosted the 16th general meeting of the Coalition of NGOs "Improving Transparency in Extractive Industries", dedicated to the results of 2012.
At the meeting, could not be informed of the Monitoring Group for lack of quorum of 171 members of the group at a meeting attended by representatives of 53 NGOs.
The Coalition member Gubad Ibadoglu said the meeting was briefed on the work of the 2012 coalition Multilateral Initiative Group (MIG), which also includes representatives of government and business. According to him, the coalition has achieved as reported in the Government's oil revenues clarify "other income" and specification of revenue from natural gas and associated gas. This year, on the initiative of the coalition officially unveiled to the five contracts for the use of natural resources in Azerbaijan. Among them are "Contract of the Century", "Shah Deniz" and the Baku-Tbilisi-Erzurum gas pipeline. It is a practice introduced for the first time in Azerbaijan, said Ibadoglu.
The coalition set a goal to achieve in the near future personal accountability of mining companies, and independent audit reports of oil and gas revenues, said Gubad Ibadoglu.
The meeting also adopted a new strategy for transparency in the extractive industries "to unveil the payment."
The Coalition for Transparency Initiative in the mining industry in Azerbaijan was established in May 2004. The coalition includes 149 NGOs and 14 individuals. It was created for the purpose of civilian control over the implementation of the Government of Azerbaijan's obligations under the International Initiative for transparency in the extractive industries (EITI).
Azerbaijan joined the EITI in 2003 and became the first country that published EITI report March 15, 2005. But later Azerbaijan has been criticized for lack of transparency, particularly in the work of the State Oil Fund. This summer, a coalition of transparency noted that in Azerbaijan there is no progress in the implementation of the memorandum to the EITI. -08C-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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