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RUSSIA, AZERBAIJAN AUDIT BODIES EXCHANGE EXPERIENCE

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MOSCOW, March 29 (RIA Novosti) - Now in Baku on an official visit, chairman of the Russian Audit Chamber Sergei Stepashin has studied the experience of Azerbaijan in forming and using the Stabilization Fund.

The theme was in discussion on Tuesday between Stepashin and Shamir Sharifov, president of the State Oil Fund of Azerbaijan, the Audit Chamber press release says.

Like the Russian Stabilization Fund, the Azeri fund is replenished by earnings from oil exports. The Azeri fund's volume has reached approximately 1 billion dollars.

Sharifov spoke of measures taken towards the transparency and efficacy of using the resources, including by publishing regular reports in the mass media.

On Tuesday Stepashin also met with Murtuz Aleskerov, chairman of the Milli Mejlis (parliament) of Azerbaijan. The meeting was attended by members of the Azeri-Russian interparliamentary group.

During the conversation, an active development of political dialog between the two countries, backed up by growing trade-economic relations, was noted. Their further development is prompted by efficient interaction between the supreme bodies of state financial control in the two countries.

The parties also exchanged opinions on the role and place of audit organs in the socio-economic life of Russia and Azerbaijan and their interaction with the two parliaments.

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