THE Guyana Extractive Industry Transparency Initiative (GYEITI) Week, which will focus on the need for transparency, improved access and disclosure of information about the country’s natural resources and the activities in the extractive sector, started off on Monday with presentations from U.S. Ambassador Sarah Ann-Lynch and Minister of Natural Resources, Vickram Bharrat.

Activities for the virtual conference began at 09:00hrs with an opening ceremony and ran throughout the day before ending at 19:00hrs with a cocktail networking event.

Presentations on day one covered discussions on topics such as, “Why does Transparency Matter? An Introduction to EITI: Objectives, Standards and Requirements” and “Competing Interests in the Extractive Sector: How to Reduce Risk and Conflict and Reap Benefits,” and also included a civil society panel discussion on “Experiences and Lessons Learned in Governance, Communications, and Environmental Justice” and a panel discussion on “Guyana’s National Governance and Transparency Policies.”

National Coordinator of the Trinidad and Tobago Extractive Industries Transparency Initiative (TTEITI) Secretariat, Sherwin Long, delivered a presentation on how Trinidad and Tobago uses EITI data to inform public policy and dialogue.

Also making presentations on the opening day were Executive Director of the Pan-American Development Foundation (PADF) Katie Taylor; EITI LAC Director, Francisco Paris; Director of Conservation International Guyana, Curtis Bernard, and Commissioner of Guyana Geology and Mines Commission, Newell Dennison.

Presentations were also made by representatives from the World Bank; the American Chamber of Commerce; the Ministry of Agriculture; the Guyana Forestry Commission; the Guyana Gold Board, and the Ministry of Natural Resources.

Funded by USAID and implemented by PADF, the event is a part of the GYEST Project. It aims to provide relevant information, create awareness, and stimulate public debate.
“Guyana is blessed with an abundance of natural resources that include, oil and gas, minerals and metals, forestry, and fishing.  With the discovery of vast offshore oil reserves in 2015, the country has jumped to centre stage with economic prospects soaring,” the event website notes in a statement.

It further added: “As Guyana looks towards the future, there are promises of a bright future with increased opportunities and benefits for all citizens.  Ensuring that Guyanese have access to these benefits requires increased transparency and improved access and disclosure of information about the country’s natural resources and the activities within the extractives.  Transparency is after all key to building trust, reducing risk, and ensuring compliance.  It is also the right thing to do.”

Activities will run until June 11.