Africa-Press – Angola. At the end of this month, Angola submits the process of joining the Extractive Industry Transparency Initiative (EITI), an evolution that gives rise to the application of an Action Plan aimed at the adoption of best practices in the Mineral Resources sector.
The announcement was made yesterday, in Luanda, by the minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, at a conference to present Angola’s accession process to the EITI International Committee.
The process is submitted by the National Coordinating Committee to the EITI International Secretariat, with the country being notified of the acceptance or eventual rejection of the membership proposal at a meeting of the International Committee scheduled for June of the current year.
“If Angola is accepted as a member, we will immediately apply our Action Plan, which involves giving maximum transparency to the process of exploration of mineral and hydrocarbon resources, as well as the management of revenues and their use for the benefit of our population. ”, declared the minister.
Otherwise, if not accepted, the National Coordinating Committee will review the application process to correct the shortcomings, with a view to ensuring acceptance into the EITI, a voluntary global standard that aims to promote and support better governance in resource-rich countries. , through the publication of payments made by extractive companies, reflecting revenues from oil, natural gas and mining.
The Initiative also aims to promote transparency and responsible management of extractive sector revenues by interested countries and operating companies.
In Angola, the EITI National Coordination Committee aims to allow the proper and verifiable use of revenues, so that they can contribute to the economic and political stability of the country, as well as to fight corruption.
Created in 2020, the EITI National Coordination Committee is made up of representatives from the Ministries of Mineral Resources, Oil and Gas, Foreign Affairs, Finance, as well as Culture, Tourism and Environment.
The EITI is implemented in 56 countries, after it was launched in 2003, with the aim of promoting an open and responsible management of natural resources, requiring the dissemination of information along the value chain of the extractive industry, from the point of extraction , to government revenue and public benefit.
For More News And Analysis About Angola Follow Africa-Press
