Guyana in the process of compiling second EITI report

DPI, Guyana, Friday, October 25, 2019

The compilation of Guyana’s second Extractive Industries Transparency Initiative (EITI) report, is currently being done. This report is of major significance, as this is the time all agencies and companies are expected to be fully compliant with the global standard for the good governance of oil, gas and mineral resources.

Guyana submitted its first report on April 25, 2019.

In his address to stakeholders at the Guyana Extractive Industries Transparency Initiative (GYEITI) workshop earlier on Friday, Minister of Natural Resources, Hon. Raphael Trotman, recalled the journey to Guyana becoming EITI complaint.

“Guyana has made monumental strides in the past four years in its journey to become EITI compliant, since being confirmed as an EITI implementing country in October 2017, the Government of Guyana and the Ministry of Natural Resources are very proud of these achievements. Our Government remains steadfast and committed to the ideals of transparency and principles of EITI.”

Minister Trotman noted that following EITIs first report, the government held several outreaches across the country to ensure Guyanese understood the contents of the report, the impact of EITI and its benefits to the extractive sector and, by extension, the country.

“It is monumental indeed in that two-plus years we have moved from that inaugural meeting at the Umana Yana to another workshop and our first report being submitted and preparation for the second report on its way,” Minister Trotman noted.

Friday’s workshop is another step in the country’s journey to compliance and transparency, the minister added, noting that it focuses on two (2) key areas – Beneficial Ownership and Mainstreaming, which are important tenets of EITI.

He revealed that Guyana was also well represented at the EITI Global Conference held in Paris in June 2019 and has since been appointed a member of the EITI International Contract Transparency Committee.

Further, the Multi-Stakeholder Group (MSG) has drafted an Action Plan, the minister noted, to implement the recommendations outlined in the first report.