The Economist: EITI, a "promising new mechanism"


"Despite the persistence of Africa’s natural and man-made horrors, the latest trend is cheeringly positive", The Economist writes in a Leader article. Further it writes: "Another promising new mechanism is the Extractive Industries Transparency Initiative, a voluntary code that a score of African countries have adopted, with governments and foreign firms accounting openly for their dealings."

Oil and Gas Journal: "Firms Can Avoid EITI Pitfalls"

[img_assist|nid=426|title=|desc=|link=none|align=right|width=150|height=69] According to this article in the Oil & Gas Journal, EITI is good for business, but needs to be implemented carefully to avoid pitfalls.

UPDATE: Legal Analyst Matthuew Genasci at the Revenue Watch Institute has written a response where he concludes: "Where a company makes no improper payments and accurately reports, disaggregated reporting offers the best protection from FCPA scrutiny"

"Help poor states to seize the fruits of the boom"

In an op-ed piece in Financial Times 10 April, Paul Collier and Michael Spence write:

Any international standards for resource extraction must be voluntary. Fortunately, in this area voluntary standards have a good record. The Extractive Industries Transparency Initiative, launched in 2002 as a standard for revenue reporting, has a wide take-up. Standards provide rallying points for reformers and a benchmark for performance and promote competition between governments.

Gabon confronted with EITI obligations, lifts NGO ban


Reuters reports that Gabon has lifted the suspension on 22 NGOs after the Government was confronted with the fact that the ban was incompatible with Gabon's membership of the EITI. The participation of independent civil society is a fundamental component of the multi-stakeholder nature of the EITI, which champions dialogue between governments, industry, and civil society.

Cambodia might join the EITI

Asia Times, 20 November 2007, Andrew Symon:Not enough oil troubles Cambodia's waters

Now, apparently to subdue its critics, the [Cambodian] government says it might join the Extractive Industries Transparency Initiative (EITI), a recently established international mechanism with a secretariat in Oslo, Norway, which brings governments and companies together to promote good governance over natural resource-generated revenues.

Reform in Yemen: Progress and obstacles

31 Mar 2007, The Arab American News

Another urgent issue facing Yemen is rampant corruption. The Yemeni government has taken some important steps to combat corruption such as signing on to the Extractive Industries Transparency Initiative as well as issuing a new law controlling government tenders. A cabinet reshuffle in 2006 was a good step in establishing discipline within some ministries. However, the Civil Service Ministry, like the Water Ministry,