MSG members introduced the works carried out during the implementation of the EITI standard in 2018

Today, on December 5, Chairman of the multi-stakeholder group (MSG) of the Extractive Industries Transparency Initiative (EITI) Ararat Mirzoyan chaired the meeting of the multi-stakeholder group, as well as presented the work, done in 2018 towards the introduction of the EITI standard.

First Acting Deputy Prime Minister of the Republic of Armenia Ararat Mirzoyan welcomed the participants and noted that the multi-stakeholder group will hold one of its most important meetings as it is envisaged to approve the first national report of the EITI, as well as the documents, which envisage the introduction of the initiative within the next two years. This all is called to make the process more sustainable.

Ararat Mirzoyan also noted in his speech that the results, required by the standard, as well as results by some points, exceeding the requirements of the standard have been provided in the reporting year (for example, the database on metal ore mining companies was published).

“An important guarantee for success was the close cooperation with partner international organizations. In 2018, the World Bank was the main partner of Armenia in the framework of the Extractive Industries Transparency Initiative. The grant program of the World Bank will continue in the coming year as well. As a result of this important cooperation, the first report of Armenia on the EITI for 2018 has been issued,” - said the Chairman of the MSG.

He also informed that from now on, German Corporation for International Cooperation (GIZ) will also be one of the EITI partners, which will show the EITI technical assistance, provided by the German Government.

Welcoming remarks were made by Jens Petersen-Thumser, GIZ Project Manager of Public Finance Management in the South Caucasus.

As a result of a comprehensive discussion of the agenda issues, the MSG members confirmed the national report in the end of the meeting. The EITI report is one of the most important results of the international initiative’s membership, as with the help of this document the society becomes aware just from one source about the financial flows of the sphere, production and export volumes and values, as well as the legal and institutional framework. It should be noted that amendments to the laws and other legal acts have been made over the past year to prepare the report, approved by the MSG. The report will be presented to the public in January, 2019.

We should note that 51 countries affiliate to the Extractive Industries Transparency Initiative, which is a world standard, that promotes open and accountable natural resource management. Armenia joined the initiative in 2017.

The MSG of Armenia, composed of 15 members, includes representatives of government, mining companies and civil society. The MSG has been authorized by the Government of the Republic of Armenia to supervise the implementation of the EITI.