Roundtable with the extractive industries operators

Roundtable with the extractive industries operators

On Friday at 11:00 a.m, at Hotel Tirana International, was held a roundtable discussion between Albanian EITI Secretariat and representatives of operators of the extractive industries in Albania. Part of this workshop was Mr. Saimir Laçej, Director of Fiscal Policy at the Ministry of Finance.

Representatives of major companies operating in the extractive industry in Albania discussed the various issues of the field as well as on measures to be taken in order to create a suitable environment for the activities of these companies by improving the legal framework, fiscal policy, and by having closure cooperation between companies and state institutions.

The meeting focused mostly on the level of transparency in the extractive industry and to cooperation between state institutions and companies that operate in this field as key issues for the development of this sector. Participants analyzed the current situation by sharing their experiences and expressing specific problems regarding the legal framework and fiscal package in Albania.

At this meeting was discussed on EITI Albania importance and function focusing on the publication of financial data and payments in the extractive industries sector. EITI process requires the publication of data on payments and profits through reports based on accounts audited in accordance with international standards. Companies reporting to the EITI Albania have a special significance, because through these data drafted recommendations that appears at higher levels.

Countries implementing EITI principles should publish a summary of the legal and fiscal package that governs the extractive industry. This information should include a summary of the fiscal package, including the tax level delegation, a summary of relevant laws and regulations, information on the roles and responsibilities of relevant state agencies.

One of the main objectives of EITI Albania initiative is the publication of information related regulations that must be followed for the management of the extractive sector in Albania which allows stakeholders in this field to be constantly aware of the laws and procedures on provision of exploration and production rights, legal, regulatory and contractual applies to extractive industry in Albania as well as the responsibilities that state institutions has in this process.

Participants gave their opinions on EITI initiative seeking a greater involvement of companies operating in Albania, as a way to avoid unfair competition. EITI Albania representatives said that is in their target, noting that it takes a greater interaction by companies to achieve common goals.

After a long discussion, participants agreed that transparency standards are key to improving fiscal policy. This meeting aimed to increase the impact of the EITI initiative in Albania, through increased cooperation between stakeholders.

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