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Official News

Wednesday, 27 April 2022

The introduction of the Extractive Industries Transparency Initiative is a reality. The sitting of the Multi-Stakeholder Group chaired by Deputy Prime Minister Matevosyan takes place

The sitting of the Multi-Stakeholder Group of the Extractive Industries Transparency Initiative (EITI), chaired by Deputy Prime Minister Hambardzum Matevosyan, took place today.

It should be noted that this is the first time since June 2020 that the Multi-Stakeholder Group up meeting is held in real mode.

Welcoming the participants of the session, Hambardzum Matevosyan stated with satisfaction that though the sessions of the Multi-Stakeholder Group and the opportunities for conducting discussions in real mode were interrupted due to the COVID epidemic, however, it did not prevent the members of the Multi-Stakeholder Group and the Armenian secretariat of the EITI to carry out the important activities envisaged by the Initiative’s work program, including the preparation of the next national report of the EITI, the introduction of an electronic declaration system for real beneficiaries, the signing of a new grant agreement with the World Bank, etc. "Thus, the introduction of the EITI in Armenia is a reality," the Deputy PM emphasized, informing the members of the Group that next year, the Republic of Armenia must pass the second international ratification of the EITI, which will take place according to the new ratification model approved by the International Council.

"It implies greater involvement of the Multi-Stakeholder Group in the ratification process. Pre-ratification work will start by the end of this year, so I am sure you realize that only with the active involvement of the beneficiaries and with the efforts of all of us we will all be able to maintain Armenia's high rating," Deputy Prime Minister Matevosyan said, and started the discussion of the issues on the agenda.

They mainly referred to the approval of the revised work plan of Armenia’s EITI for 2022, the discussion of the technical task of compiling the 4th national report and its approval by the Multi-Stakeholder Group, revealing the legal owners of companies and the process of international program Opening Extractives, as well as the establishment of an IT system for systematic data disclosures in the mining sector, and the development of a mining strategy.

May 2022