A MULTI-STAKEHOLDER Group (MSG), which will effectively oversee the implementation of the Guyana Extractive Industries Transparency Initiative (G-EITI), was launched on Wednesday by Prime Minister Moses Nagamootoo in the presence of Natural Resources Minister Raphael Trotman at the Umana Yana.The EITI is a global organisation of 51 member countries, which has subscribed to establishing, upholding and promoting the standards and tenets of good governance, transparency and accountability in the management of extractive industries. At its core, the EITI promotes the belief that natural resources belong to the people and are to be extracted and managed on behalf of the people; both for current and future generations.
The G-EITI-MSG is made up of a total of 12 representatives equally drawn from the government, the business community and civil society. The Natural Resources Minister explained that MSG will provide and establish a framework to promote collaboration and consensus-building in the implementation of the Extractive Industries Transparency Initiative.
“This grouping is a true demonstration of the inclusivity and transparency as all stakeholders are presented at the table, by that I mean Government, Civil Society and Industry,” Minister Trotman said.
Here in Guyana, a deliberate effort has been made to distribute the seats equally in the MSG. He noted that Government will be represented by high-level officers from the Natural Resources Ministry, the Office of the Prime Minister, the Finance Ministry and the Guyana Revenue Authority (GRA). The G-EITI will be chaired by the Natural Resources Ministry.
“The Government has approached the EITI process with a commitment to transparency and openness as well as a recognition, acceptance and deliberate effort to foster the truth that the resources of this country belong to every Guyanese with equal measure,” Minister Trotman said.
He told those present that EITI has the potential to deliver significant benefits to Guyana’s economy through increased accountability and transparency, while simultaneously enhancing the country’s reputation as a sound investment destination.
Minister Trotman added too that the process forms part of a menu of measures that Government has committed to in the strengthening of public institutions and systems to effectively manage the resources and revenues from the extractive sector. The other elements of the package include the European Union Forest Law Enforcement Governance and Trade Initiative (EU/FLEGT) programme, which focuses on Sustainable Forest Management, and the Sovereign Wealth Fund initiative.
It is the hope of the Natural Resources Ministry to have the EITI National Secretariat established by mid-year. Already, a coordinator has been appointed in the person of Rudy Jadoopat.
Meanwhile, Civil Society Representative, Curtis Bernard, in his remarks, said “The extraction of natural resources from Guyana’s more than 350,000 square kilometres of sovereign terrestrial and marine space has provided significantly for our economic well-being.”
He said with the hydrocarbon industry on the rise, the economic footprint from the extractive industry will become even larger. As such, Bernard said transparency in the financial flows is important.
“EITI is a proven means of achieving such transparency. The tri-sectorial governance mechanism of the EITI [in] which Government, Industry and Civil Society have equal status and decision-making power is exemplary in its potential to demonstrate innovative and inclusive governance.”
In the SGM, Civil Society Organisations will be represented by Paul Atkinson, Senior Councillor at Santa Rosa Village, Region One; Larry Carryl, a civil engineer with the Ministry of Agriculture, who has been involved in voluntarism and activism on Environmental issues over the last 10 years; Judy Nelson, a chemist at DDL; and Bernard. The industry representative, Hilbert Shields, also lauded the EITI platform.
Currently, the ministry is in the process of identifying a building to house the secretariat, in addition to the hiring of additional staff.
Members of the diplomatic corps, civil society and the extractive industry were in attendance, in addition to the Speaker of the National Assembly, Dr Barton Scotland.