EITI Conference in Peru, Gjiknuri: Importance of transparency for the use of natural resources

EITI Conference in Peru, Gjiknuri: Importance of transparency for the use of natural resources

foto lajmThe Minister of Energy and Industry Mr. Damian Gjiknuri attended the two-day Global conference of Extractive Industries Transparency Initiative, which took place in Lima, Peru. Extractive Industries Transparency Initiative (EITI) is an international initiative instituted in 2002, with the initiative of the Prime Minister of Great Britain. EITI standard means establishment of business transparency in the extractive industry, so that the income from this business will contribute more to the development of the country.

In his speech, the Minister Gjiknuri said that Albania from a problematic country, now has achieved success since the last two years has published several reports in compliance with EITI standards.

“In the last 20 years the economy has changed but still the extractive industry and other industries related to minerals, oil and gas play an important role in the country. Transparency on how these resources are being used becomes very important, “said Minister Gjiknuri.

Z.Gjiknuri requested that EITI initiative should be expanded including as key actors the big states with the aim of increasing transparency. During conference discussions, one of the EITI’s future global objective has to do with the identification of the real owners of companies that use natural resources in the member countries.

“There are many achievements, but there is still much to do. This is a good initiative, despite being an initiative of a small group of countries. We here discussed on how to increase transparency and how to fight corruption. Transparency is very important, also to recognize the real owners of companies that use the natural resources. Will we be able through this small initiative to become global, to impose transparency for the real owners of the companies that use natural resources, “said Mr. Gjiknuri.

During his stay in Peru, the Minister Gjiknuri held meetings with his counterparts and Head of EITI Secretariat Mr. Jonas Moberg.  Mr. Moberg congratulated Albania for work done during the past two years in the publication of several reports in accordance with the standards of transparency.

EITI in function of transparency, monitors revenues of companies operating in the extractive sector, and the payments those companies make for the state institutions, which are considered income for the state, through an annual report, prepared by an independent administrator.

EITI is implemented by 51 countries, with the membership of the Dominican Republic and Germany on 23 February. During the conference held in Lima, Peru, the new EITI chair was elected Mr. Fredrik Reinfeldt, former Prime Minister of Sweden during 2008-2014. On May 2, 2013, Albania becomes a member of the EITI International Board, which obliges the country to have an effective process for annual disclosure and reconciliation of all revenues coming from the extractive industry sector.