UK SUPPORTS AZERBAIJAN'S JOINING TO EITI

Baku, IAA "Trend" June 2 corr. E.Mammadova

The British government appreciates Azerbaijan's joining to the Extractive Industries Initiative (EITI), Hon Brian Wilson, MP, the UK Prime Minister's Special Representative on Overseas Trade and UK Energy from 2001-2003.

"It will assist for more transparent management over oil revenues and Azerbaijan has taken bold step in this direction," he noted. The British Premier has sent a letter to the Azerbaijani President to congratulate him on the successes achieved in implementing the EITI. The letter stresses the adherence of the Azerbaijani government to increasing transparency would be an important signal to international financial institutes, potential investors and countries interested in the initiative.

Wilson noted that the British government remarks the significant role of the non-governmental organizations (NGOs) in support of the EITI. Transparency over the oil revenues assumes special importance for future development. The British government, therefore, attaches great importance to transparency in energy market.

He stressed that the achievement of transparency is necessary not only in energy consumer countries, but also producer-countries.