Peru and Mauritania Declared 'Compliant' by Eiti, Global Transparency Standard

LONDON, February 16, 2012 /PRNewswire/ --

EITI International Secretariat

Peru and Mauritania were yesterday found to in compliance with the EITI standard. The EITI (Extractive Industries Transparency Initiative) is the global standard that ensures accountability and transparency of the revenues from a country's extractives sector. The international EITI Board announced that the two countries have been accepted as "EITI Compliant" at its meeting at Wiston House in the United Kingdom.

     (Logo: http://www.newscom.com/cgi-bin/prnh/20111221/501307 )

Clare Short, Chair of the international EITI Board congratulates Peru and Mauritania saying, "Peru is a leader in natural resource transparency in Latin America, in particular in disclosing payments at the local as well as at the national level. Mauritania has overcome challenging circumstances and demonstrated sustained commitment and leadership in their EITI. I would like to congratulate the government, civil society organisations and companies that have driven the processes in both countries. I welcome Peru's commitment to advanced transparency regionally, and Mauritania's plans to expand their EITI into fisheries."

13 countries are now EITI Compliant. EITI compliance means that the country has an effective process for annual disclosure and reconciliation of all revenues from its extractives sector, allowing citizens to see how much their country receives from its oil, gas and mining companies.

Further information about EITI report can be found at the EITI website at http://www.eiti.org.

Notes to Editors

1. Media enquiries can be addressed to Communications Manager Anders Tunold Kråkenes at the EITI International Secretariat, +47-4666-2888 or [email protected].  
2. Ms Short was elected Chair of the international EITI Board at the EITI Global Conference in Paris in March 2011. Ms Short was the UK Secretary of State for International Development (1997-2003).
3. The EITI is a coalition of governments, companies, civil society groups, investors and international organisations.
4. 35 countries are currently implementing the EITI standard, and recognised as either EITI Candidate or EITI Compliant. In October 2011, President Obama announced that the United States would implement the EITI, and Australia committed to pilot the EITI.

SOURCE EITI