Opening the meeting Mr Ehtiram Ali informed the audience of the importance of enhancing transparency in extractive industries and the securing of transparency in the management of oil revenues in the future.

Prof. Fuat Rasulov addressed the audience on the impact of petrodollars on the economy of Azerbaijan.

The professor gave the audience an in-depth insight into the impact of revenues from extractive industries on the social status of the population, as well as the importance of enhancing transparency in income spending, the provision of the public with access to extensive information concerning oil incomes, the utilization of them and the corresponding areas of spending, the ensuring of the involvement of civil society institutions in making decisions on the allocation and use of oil incomes, and the establishment and exercise of civilian oversight of the policies on the receipt and use of oil incomes.

The topic raised broad discussions; the corresponding questions were answered at length.

Summarizing the gathering, Mr Farahim Sadigov, the president of the university, laid an emphasis on the role of the teaching staff and students in the strengthening of transparency in extractive industries and the necessity to hold such kind of meetings in the future.