1. Management of revenues generated from natural resources for increased welfare of country citizens and national interests shall be the sovereign power of state
2. Introduction of lean practices for use of revenues generated from natural resources is a key enabler for poverty reduction and sustainable economic development
3. Transparency and accountability standards should be promoted in the performance of government bodies, private sector and social relations
4. The state should be accountable to citizens for management of revenues generated from extractive industries
5. Increase of transparency should be achieved with strict compliance with contracts and laws
6. All efforts should be taken to strengthen transparency, as well as public finance management and accountability in public and private institutions involved in extractive industry
7. Financial transparency standards of the country should be applicable to all companies operating in extractive industry
8. All stakeholders including public bodies, companies operating in extractive industry, international organizations, financial institutions, investors and non-governmental organizations should participate in introduction of transparency

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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