President Obama and Nordic leaders reaffirm support to EITI

During President Barack Obama’s visit to Stockholm, the president and the five Nordic prime ministers took the opportunity to reaffirm their support to the EITI.

This was made clear in a joint statement by Denmark, Finland, Iceland, Norway, Sweden and the US, following meetings in Stockholm, Sweden 4 September 2013.

In the statement, all signatory countries reaffirmed their support to the Extractive Industry Transparency Initiative (EITI) to promote transparency and accountability.

“In support of the EITI we agree to promote transparency and accountability of expenditures and revenues related to the extraction of natural resources, including through support to the multi-donor trust fund for EITI or the EITI Secretariat.“

Head of the EITI Secretariat, Jonas Moberg, welcomed the statement.

“The support from President Obama and his Nordic counterparts adds to the momentum that is building behind the EITI and all efforts to improve natural resource governance.”

The EU member states Denmark, Finland and Sweden also stated they intend to quickly apply the EU Accounting and Transparency Directive, which requires mandatory disclosure of payments made to governments for natural resources. Norway has also announced that they will apply these disclosure rules, and in addition require extended country-by-country reporting.