The Extractive Industries Transparency Initiative (EITI) has recognized the Democratic Republic of Congo (DRC) and Guinea as its full members. The initiative also recognized Myanmar as a candidate country to join EITI while Germany has announced it will prepare for full implementation of the EITI.
EITI is a global coalition of governments, companies and civil society working to improve openness and accountable management of revenues from natural resources. It issued and maintains the EITI standard which requires extensive disclosure and measures to improve accountability in how oil, gas and minerals are governed.
The DRC was recognised as EITI compliant after its candidate status was temporarily suspended in April 2013 following the publication of the 2010 EITI report which found that the country didn’t meet the EITI requirements.
The country has since addressed the issues that led to its suspension and has now been accepted as full member, the EITI said in a statement.
EITI head of the international secretariat Jonas Moberg said: "EITI compliance does not mean that a country’s natural resources are managed perfectly, but it does mean that the country has a basic and functioning process to ensure that a well-informed debate is taking place."
Compliance will ensure that the DRC’s vital natural resource sector contributes to the country’s long term development, he continued.
Guinea, who adopted the EITI standard in 2013 has also been accepted as a full member.
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By GlobalDataWorld Bank Guinea office country manager Cheick Kante said: "The World Bank congratulates Guinea on achieving EITI Compliant status after many years of hard work facilitated by the Multi-Donor Trust Fund grant to meet rigorous transparency standards that now place their industry on par with international standards."
Myanmar was accepted as a candidate country to EITI, meaning that the country will now implement the EITI standard and publish accounts showing all payments the government receives from its extractives sector. "Alongside these figures, Myanmar will make public information about the license holders, production data, state-owned enterprises and the allocation of the revenues from its natural resources," the EITI said in a statement.
In Germany, the Cabinet of the Federal Government has announced the country will prepare for full implementation of the EITI.
The first step towards an official application as EITI candidate will be a series of round table meetings held with the German private sector and civil society in July 2014.
Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy Uwe Beckmeyer was appointed special representative for the EITI in Germany.
"We are aware that Germany is not among the major mining nations for which the EITI was originally coined. The mining industry accounts for less than 1 % of Germany’s GDP," Beckmeyer said. "However, the widespread acceptance and strengthening of the EITI is in our strategic interest. The decision to implement it reflects our commitment in the G7. Together we want to enhance the transparent management of natural resources across borders, leading to an international level playing field for companies and to better results from the natural resource endowments for the people."
Launched in 2003 the EITI now counts 29 full members with an EITI compliant status. Sixteen countries around the world have an EITI candidate status and 35 countries have produced EITI reports.
Related link:
http://eiti.org/
