Luanda – Angola joins as of Thursday (16 June)the group of more than 50 member countries of the Extractive Industries Transparency Initiative (EITI), a global standard that promotes responsible management of oil, gas and mineral resources.
The integration of Angola as the 55th member country was decided at the 53rd Meeting of the EITI Council, co-sponsored by the Ministry of Foreign Affairs of Belgium and the European Commission, held Brussels.
The event was attended by the Angolan Minister of Mineral Resources, Oil and Gas (Mirempet), Diamantino Azevedo.
According to Diamantino de Azevedo, who headed the Angolan delegation at the event, the acceptance of Angola’s candidacy as a member of the EITI represents the culmination of a preparatory work cycle started in 2019.
In that year (2019), President of the Republic, João Lourenço, declared publicly the country’s intention to join this initiative.
The EITI is a voluntary platform to promote transparency and responsible management of revenues from the extractive sectors (mining and oil) implemented by interested countries and companies operating in these industries.
The purpose of the EITI is to allow the proper and monitorable use of these revenues so that they can contribute to the economic and political stability of the countries with extractive industries and, in this way, strengthen the fight against corruption.
Source: Angola Press News Agency