The next Multi-stakeholder Group (MSG) meeting on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on August 22, 2016 at the State Oil Fund of the Republic of Azerbaijan (SOFAZ).
During the meeting participants discussed the preparations of the Road Map for the disclosure of information on Beneficial Ownership in extractive sector, Inception report for 2015 EITI Report, EITI Validation process, E-Reporting in EITI countries and possibilities of implementing this system in Azerbaijan, disclosing the EITI processes and their results to the public and other issues. The meeting participants have also accepted MSG Code of Conduct.
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.