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First African country becomes EITI full member

15 October 2009 16:01 (UTC +04:00)

Baku. Rashad Suleymanov - APA-ECONOMICS. Liberia has been granted the status of full-fledged member at the 10th meeting of the t International Board of the Extractive Industries Transparency Initiative in Baku.

Peter Eigen, Chairman of EITI International Board, said that Liberia as the first full member of EITI in Africa has included forestry in its report.

He added that Azerbaijan was the first to be an EITI full member, and set example for other states with its activities.

The EITI increases transparency over payments by companies to governments and to government-linked entities, as well as transparency over revenues by those host country governments.

It was announced by Tony Blair, the then-Prime Minister of the United Kingdom, at the World Summit on Sustainable Development in Johannesburg, South Africa in September 2002.

As of June 2009, EITI was implemented in 30 resource rich countries around the world. 12 countries have produced EITI reports.