Commodity Trading and Beneficial Ownership in the focus of EITI Activity

Commodity Trading and Beneficial Ownership in the focus of EITI Activity

 

On December 7, 2018 a closing meeting was held for the one-year EITI activity program, attended by members of MSG, Minister of Infrastructure and Energy, Aliko; representatives of Ministry of Justice, Ministry of Infrastructure and Energy, Ministry of Environment and Tourism, Energy Regulatory Entity, Foreign Investor Association (FIAA), Albanian Geological Survey, Albpetrol, Deloitte Albania, representatives of Extractive Industry Businesses and Civil Society.

The focus of the meeting consisted of two priority activities of the EITI National Secretariat: Commodity Trading and Beneficial Ownership.

In the first session of the Meeting,Deloitte’s representative made a presentation on the updates of Commodity Trading Report (Transactions of State-owned Companies – Albpetrol sha), focusing on the reconciliation process of reporting and publication of petroleum sales contracts by Albpetrol, prices and payments for typology of petroleum products etc., as Pilot Project Objectives initiated by the Oslo-based EITI Secretariat. In co-ordination with Albpetrol, and after the exhaustion of incomplete information and the formulation of relevant recommendations, the final phase of the Project is expected to be completed in 2018.

In the second session of the meeting, the Director of the National Secretariat EITI – Albania, Mr. Kamberi made a presentation on the objectives of the Beneficial Ownership Publication process in the Extractive Industry, to be finalized by member countries in 2020 as a peremptory of the EITI International Secretariat. Mr. Kamberi pointed out the finalizing identification process of needs for improvements in the current legal framework, including and harmonizing the terms of B.O. in the current draft of the Bill “On the Transparency of Extractive Industries activities and the use of Natural Resources in the Republic of Albania”, and in relevance with the best international practices, the associated processes that are related to: Building Institutional Capacity for BO, Information and awareness of interest groups, as well as the creation of a sustainable institutional platform for the publication, access and use of Beneficial Owners data. 

Deputy Minister Aliko in his address focused on aspects of the full engagement of Albpetrol in the Commodity Trading process; Increase the efficiency and engagement of MSGs in EITI activity, as well as the importance of institutional co-ordination for the Beneficial Ownership Publication Process (B.O). Also was discussed the formalization of an institutional cooperation platforms between the EITI National Secretariat and the OSCE Mission in Albania and the  EITI Ukraine Secretariat.