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Azerbaijan’s extractive industries commission adopts action plan

19 April 2017 [12:00] - TODAY.AZ

By Azernews

By Laman Ismayilova

Extractive Industries Transparency Commission of Azerbaijan has held its first meeting, said Shahmar Movsumov, the chairman of the commission and head of the State Oil Fund of Azerbaijan (SOFAZ).

Movsumov, who addressed a press conference on April 18, said the meeting participants discussed statute of the commission, decision making process, collaboration with stakeholders, as well as content of 2016 Transparency Report, auditor selection procedure, list of extractive companies to be audited and made appropriate decisions.

Besides, the commission’s 2017 Action Plan, reporting forms on transparency in extractive industries, terms of reference were discussed and appropriate decisions were made during the meeting.

The Extractive Industries Transparency Commission was established in accordance with the decree of Azerbaijani President Ilham Aliyev dated April 5, 2017.

Deputy Energy Minister Natig Abbasov, Deputy Minister of Taxes Sahib Alekberov, Deputy Minister of Justice Emin Huseynov, Deputy Minister of Economy Sahil Babayev, Deputy Minister of Ecology and Natural Resources Rauf Hajiyev, Deputy Chairman of the State Statistics Committee Yusif Yusifov were appointed members of the Commission.

A new structure, the Secretariat of the Commission is established in order to organize the activity of commission. The State Oil Fund will be responsible for the Secretariat of the Commission.


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