Commonwealth Secretariat supports the EITI

Commonwealth Secretary-General Kamalesh Sharma announced formal support to the EITI.

Photo courtesy of the Commonwealth Secretariat (www.thecommonwealth.org)

Commonwealth Secretary-General Kamalesh Sharma announced on 25 May the formal support of the Commonwealth Secretariat as a partner organisation to the EITI, the global transparency Standard for revenues from natural resources.

EITI Chair Clare Short welcomed the support during the 6th EITI Global Conference in Sydney.

In a video address to the Conference, SG Sharma confirmed the Commonwealth’s commitment to transparency and the EITI.

“We are committed to promoting more stringent standards of revenue transparency for extractive industries throughout the Commonwealth that meet the rising expectations of our governments and citizens.”

“When they last met, our [Commonwealth Heads of Government] welcomed the EITI Principles and encouraged Commonwealth countries to consider supporting or implementing them. Our leaders also committed to combatting the illegal exploitation of natural resources and to sharing best practice on resource management”, he added.

The Commonwealth Secretariat facilitates cooperation of its over 50 member countries that work together towards democracy and development. In the context of natural resource governance, SG Sharma stated that: “the aim of the Commonwealth Secretariat is to help its members convert the transformational potential of their natural resources in ways that build resilience, with the benefits of prosperity shared by all, to advance economic and social inclusion for present and future generations”.