EITI Stakeholders Are Discussing the Future of EITI in Kazakhstan

ASTANA, February 22, 2011. – Soros Foundation – Kazakhstan and the British Embassy in Astana are hosting a conference “EITI in Kazakhstan: Going Forward“ to promote the broad discussion on what steps should EITI stakeholders (the government, the parliament, the extractive companies and the civil society) take to achieve full compliance with EITI standards for Kazakhstan and in which directions can EITI further develop.

At its meeting in Brussels in December 2010, the Board of the Extractive Industries Transparency Initiative (EITI) designated Kazakhstan as an EITI Candidate country that is “close to compliance” and identified specific barriers to full compliance that stakeholders should overcome by 15 June 2011 under the supervision of the International EITI Secretariat.

In his welcoming remarks, Mr David Moran, Her Majesty's Ambassador to Kazakhstan and Kyrgyzstan, has praised the government of Kazakhstan for its commitment to transparency of the extractive industry revenues: "Kazakhstan has made impressive progress in assuring greater transparency in its extractive sector. Transparency is instrumental for creating and maintaining a favourable investment climate. Now EITI stakeholders in Kazakhstan need to mobilize their efforts for achieving the Compliant Country status within the timeframe established by the International Board”. “We also feel that it is important that successful validation is not seen as the end of the EITI process. As I am sure all stakeholders realise, acknowledgement as a Compliant Country is an important milestone rather than an ultimate goal", he added.

Ms Anna Alexandrova, Chair of the Executive Council of the Soros Foundation-Kazakhstan, says: «We encourage EITI stakeholders to start discussing the future of EITI in Kazakhstan after Kazakhstan achieves the Compliant Country status.  EITI has great flexibility as its scope is defined by stakeholders in each individual country. It can be anything from public participation in social and environmental investments to expansion of EITI requirements to non-extractive industries to strengthen transparency.”

The EITI is an international standard for transparency in extractive industry payments and receipts. It was launched in 2003 by the former British Prime Minister Tony Blair. In countries participating in the EITI, companies are required to publish what they pay to governments and governments are required to publish what they receive from companies. These figures are then reconciled by an independent administrator and made publicly available. Making this information open empowers the public to hold their government accountable for prudent resource revenues management.

For further information please contact:

Assel Abdrakhmanova, Communications Assistant, Soros Foundation-Kazakhstan

Mobile:  +7 701 352 01 94, e-mail: ac@soros.kz