Guyana applies to key EU watchdog on natural resources revenues

By Stabroek News On In Guyana News |
Minister of Natural Resources Raphael Trotman (third from left) submits Guyana’s application for membership to the Extractive Industries Transparency Initiative (EITI). Receiving the application on behalf of the EITI is the National Coordinator of the G-EITI, Rudy Jadoopat. Also in photo (from left) are ExxonMobil Country Manager Rod Henson, former Head of the Guyana Gold and Diamond Miners Association, Patrick Harding, G-EITI Civil Society representative Mike McCormack and Deputy Coordinator of the G-EITI Diane Barker. (Keno George photo)
Minister of Natural Resources Raphael Trotman (third from left) submits Guyana’s application for membership to the Extractive Industries Transparency Initiative (EITI). Receiving the application on behalf of the EITI is the National Coordinator of the G-EITI, Rudy Jadoopat. Also in photo (from left) are ExxonMobil Country Manager Rod Henson, former Head of the Guyana Gold and Diamond Miners Association, Patrick Harding, G-EITI Civil Society representative Mike McCormack and Deputy Coordinator of the G-EITI Diane Barker. (Keno George photo)

Guyana has officially applied for membership in the European Union’s Extractive Industries Transparency Initiative (EITI) which will help in tracking revenues from oil and other natural resources.

Minister of Natural Resources Raphael Trotman yesterday made the submission via skype to EITI’s Regional Director for Latin America and the Caribbean Francisco Parris.

Speaking after the submission, Trotman noted that Guyana has completed all the requirements for membership, including the establishment of a Multi Stakeholder Group (MSG) and an agreement on an EITI work plan. He also explained that while oil extraction is not expected to begin until 2020, government is putting fundamentals in place very early.