The first plenary meeting on the “Implementation of the Roadmap for Beneficial ownership disclosure in the extractive industries of the Republic of Azerbaijan” was held

February, 13 2019

Extractive Industries Transparency (EIT) Commission, Asian Development Bank and local and foreign consultants who have executed the “Implementation of the Roadmap for Beneficial ownership disclosure in the extractive industries of the Republic of Azerbaijan” held the first plenary meeting on the implementation of the project on February 13, 2019.

 

The importance of disclosing beneficial ownership in the extractive industries, key elements of the beneficial ownership in the extractive industries, current definition of this terminology in the law of the Republic of Azerbaijan and its proposed definitions, implementation of international experience on the project and other issues were discussed in the session panels of the meeting.

 

Representatives of the government of the Republic of Azerbaijan, international organizations, delegates from the diplomatic missions, members of the local and foreign extractive industries companies operating in Azerbaijan and civil society attended the meeting.

The Extractive Industries Transparency Commission established by according to the Decree of the President of the Republic of Azerbaijan "On additional measures to increase transparencey and accountability in the extractive industry" number 1315 dated April 5, 2017. The Commission on the basis of international principles implements the application of the principles of transparency and accountability in the extractive industry of the country and cooperates with extracting companies, civil society, experts and international organizations.

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