Azerbaijan officially announced its exit from Extractive Industries Transparency Initiative (EITI), chairman of government Commission on the Extractive Industries Transparency Initiative (EITI), Chairman of the EITI Multi-stakeholder Group Shahmar Movsumov stated at the 36th EITI Board Meeting held on March 8-9 in Bogota, Columbia, haqqin.az reported.

Azerbaijan considers the decision of the Extractive Industries Transparency Initiative to suspend the country's membership in this organization unfair.

“We consider Board’s decision on suspension of Azerbaijan as an unfair one. The mandate of the EITI has been significantly shifted far from transparency and accountability in extractive sectors. The irrelevant facts introduced by different advocacy groups on various occasions show that the Initiative failed to stick to its original mission and objectives,” Shahmar Movsumov noted.