Government unequivocal public statement of intention to implement EIT
The Government of the Republic of the Union of Myanmar, under the economic and social reforms framework, has formed the Extractive IndustriesTransparency Initiative Leading Authority with the following persons.
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The EITI has evolved over ten years since the first EITI Conference in 2003 at which the EITI Principles were agreed. These principles, on which the EITI is based, state that the wealth from a country’s natural resources should benefit all its citizens and that this will require high standards of transparency and accountability. After the principles were agreed, rules were drawn up to ensure that all EITI member countries committed to a minimum level of transparency in company reporting of revenues paid and government reporting of receipts.
Much has been achieved in our first ten years, and on the basis of this experience all stakeholders recognise that it is time to develop our Standard in order to better achieve the objectives we set ourselves when the EITI Principles were adopted. Most importantly, we need to progress from a process that encourages the ticking off of our requirements to one that encourages better governance of the extractive sector in each of our member countries.
The EITI Board and our partners have spent two years consulting and working together to improve the EITI Standard. The result is a standard that encourages more relevant, more reliable and more usable information, and better linkage to wider reforms. It is also important that we put in place a minimum standard that is not too onerous for countries facing a major reform challenges but which also encourages continuing improvement whatever the starting point.