The Guyana Extractive Industries Transparency Initiative (GYEITI) with support from the Ministry of Natural Resources will be hosting a two-day workshop on understanding the EITI value chain and Guyana’s first EITI reporting cycle, its challenges, benefits and opportunities, July 9 – 10, 2018. Officials of the EITI Secretariat will conduct the workshop.
The Workshop will examine the role of the media, understanding the EITI value chain including the roles of government agencies, legal and fiscal frameworks, licences, and contract transparency. It will also look at data disclosure and disclosure of taxes and revenues including the infrastructure provisions, transportation revenues, data timelines, data quality and assurances and social and economic spending.
Participation is expected to come from the Guyana Geology and Mines Commission, the Guyana Forestry Commission, Guyana Gold Board, the Ministry of Natural Resources Petroleum Unit, Ministry of Agriculture Fisheries Division, Environmental Protection Agency, Guyana Revenue Authority, Bureau of Statistics and the media.
The participants will also go through the EITI reporting cycle and the systematic disclosure of EITI information among other issues related to transparency in the extractive sector.
In August 2017, Minister of Natural Resources Hon. Raphael Trotman submitted Guyana’s completed EITI Candidature Application and in Manila on October 25, the EITI Board approved Guyana’s application. EITI represents the global standard for good governance of oil, gas and mineral resources.
Under its obligations as a member of EITI, Guyana is required to publish its first EITI Report by April 2019. GYEITI has completed its first Annual Progress Report with is being reviewed by the Multi-Stakeholder Group comprising representatives of the Government, industry and civil society groups.