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Guyana moves closer to securing EITI membership
With the attendance of a small delegation from Guyana at the Seventh World Summit of the Extractive Industries Transparency Initiative (EITI) in Lima, Peru from February 24-25, the nation has been able to move closer to securing membership with the international body.
Comprising the Guyana delegation was Minister of Natural Resources, Raphael Trotman, Mr. Mike McCormack and Ms. Joy Persaud.
In Peru, the Guyana delegation participated in plenary and break-out sessions and had valuable interaction with several country delegations; which revealed valuable experiences about the application process, and importantly, provided pledges of support for Guyana’s journey towards attaining and sustaining membership in the body.
The EITI is a global organization of fifty-one member countries, which have subscribed to establishing, upholding and promoting the standards and tenets of good governance, transparency and accountability in the management of extractive industries.
Minister of Natural Resources, Raphael Trotman
At its core, the EITI promotes the belief that natural resources belong to the people and are to be extracted and managed on behalf of the people; both for current and future generations.
Countries, on assuming membership, coordinate their activities through a tripartite Multi-Stakeholder Group (MSG) that comprises representatives of government, industry and civil society.
Guyana is at present finalizing the composition of its MSG and making preparations for establishing a fully functioning secretariat to advance the work.
In its quest to embrace good governance standards in the regulation of the extractive industries, Guyana has been receiving guidance and support from the EITI’S Norway based secretariat and the Trinidad & Tobago Chapter (TTEITI).
Guyana, with an economy heavily based on extractive industries, and soon to become an oil and gas producing nation, propelled the government’s desire in 2015 to give its approval for Guyana’s membership application to be expedited. To date, two seminars have been convened and a third is scheduled for March 4, 2016.
The March seminar will be conducted in conjunction with the TTEITI and the University of the West Indies. All seminars are aimed at raising awareness amongst stakeholders and streamlining the application process.
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