Azerbaijan Creates Its Own "EITI"

On Wednesday, Azerbaijani President Ilham Aliyev signed a decree "On Additional Measures to Increase Transparency and Reporting in the Extractive Industry".

As noted in the preamble of the document, the purpose of signing this decree is to confirm Azerbaijan's commitment to the principles of international transparency and accountability in the extractive industry, to continue the management of material values ​​derived from natural resources for the benefit of citizens.

The document highlights the importance attached by Azerbaijan to cooperation with international organizations specializing in strengthening transparency and accountability.

It is also recalled that Azerbaijan in its time joined the Extractive Industries Transparency Initiative (EITI) and in 2009 was awarded its international prize.

"Irrespective of membership or non-membership in any international initiatives, Azerbaijan supports all efforts in the field of transparency and accountability in the extractive industry and is determined to continue the application of international standards," the document continues.

The decree notes that the management of revenues from natural resources refers to the powers of sovereign states.

The decree establishes a Commission on Transparency in the Extractive Industries, headed by the Executive Director of the State Oil Fund, Shahmar Movsumov.

The Commission also includes deputy ministers of energy, economics, ecology, taxes, finance, as well as the Deputy Chairman of the State Statistics Committee.

The Commission is charged with monitoring compliance with international principles in the extractive industry and cooperating with representatives of NGOs, the private sector and independent experts.

Recall that on March 9, the EITI International Board suspended the membership of the country in this structure because of the restrictions created to civil society institutions in fulfilling their mission related to the initiative.

In response, the Azerbaijani government announced withdrawal from EITI. -06D--

Leave a review


Чего ждать после потери Авдеевки? - беседа с военно-политическим экспертом Олександром Мусиенко в "Çətin sual"

InvestPro Azerbaijan Baku & Turkiye Istanbul 2024 – two conferences in one shot

Əziz Bakı şəhəri sakini!

Siz də Qlobal İqlim Dəyişmələri ilə mübarizəyə öz töhfənizi verə bilərsiniz

Dear resident of Baku city!

You too can contribute to the fight against Global Climate Change

Дорогой житель города Баку!

Вы тоже можете внести свой вклад в борьбу с глобальным изменением климата

Follow us on social networks

News Line