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Cabinet to receive Guyana’s first EITI Report this week
Natural Resources Minister, Raphael Trotman
Guyana’s inaugural report since becoming a member of the Extractive Industries Transparency Initiative (EITI) will be presented to Cabinet this week.
According to a statement released by the Government yesterday, the report is in keeping with the nation’s obligations since becoming part of the international body. The report was submitted to EITI by the April 25 deadline.
Minister of Natural Resources, Raphael Trotman who received a copy of the report yesterday, reminded that his Ministry is the lead agency with responsibility for the implementation of Guyana’s EITI. Preparation of the report was initiated by the said Ministry through the GY-EITI as it seeks to bring transparency to the country’s extractive industries.
Trotman said that for a country like Guyana where the bedrock of the economy is the extractive industries, the report is significant. He said, “… This has been a steady process. We trust that this is the part of the journey to full transparency. The Government is fully committed to this.”
EITI is the global standard for the good governance of oil, gas and mineral resources. In August 2017, Guyana submitted its application to the EITI International Secretariat and on October 25, 2017, Guyana was officially accepted as an EITI-implementing country.
In February 2017, the Government launched the GYEITI Multi-Stakeholder Group comprising 12 substantive members with civil society, government and the extractive industries each having four representatives. Additionally, each member is supported by an alternate.
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