• A memorandum of understanding was signed in Baku on 24 November between the Government of Azerbaijan, foreign and local oil companies, and a coalition of non-governmental organisations. The memorandum sets out the framework for EITI in Azerbaijan, and how the different parties will work together to achieve it. The memorandum commits all parties to appoint an auditor to collate the first EITI report over the next few months, and following that first report, on a six-monthly basis thereafter.

  A full report of the event, as well as copies of the memorandum of understanding and speeches, can be found on the website of the NGO coalition http://www.eiti-az.org/eng-index.php. Further information can also be found on the EITI website http://www.eitransparency.org/implementation.htm and on the State Oil Fund website http://www.oilfund.az/inside.php?nID=67

• On 29 October, the Government of the Kyrgyz Republic released its first official EITI report, making the Kyrgyz Republic the first country to publish information in the general form recommended under the EITI. The report focuses on the country's important gold mining sector, and contains itemised aggregate information on the main financial benefit streams that the Government received from the gold mining sector in the first half of 2004 (a total of US$17 million). The second focus is the proceeds from the restructuring of the Kumtor project – the largest mining operation in the country that was included in an international stock market listing in June 2004 (a total of about US$86 million).

  On November 23 2004 the Government convened the EITI Advisory Council, which includes representatives of government, industry and civil society, to discuss EITI progress to date and the next steps. The Council agreed on the need to further refine the EITI reporting process, and to strengthen the capacity of government, civil society, and companies to enable them top articipate effectively in EITI implementation. The official report in Russian can be downloaded from the Ministry of Finance's website: [http://www.minfin.kg/publications/IPPDDO.htm]

• On 23rd September, a meeting was held by the Ministers of Finance for the Franc Zone. Established in 1964, the Franc Zone is a monetary union among African countries whose currencies are linked to the French franc. The ministers welcomed the commitment of Congo and Gabon to EITI and their efforts in the field of transparency, supported by the international community and IMF. They congratulated Congo on publishing its oil data on the internet. The ministers considered establishing an EITI secretariat in the Franc zone coordinating both UEMOA (West Africa Economic and Monetary Union) and CEMAC (Economic and Monetary Community for Central Africa) zones. The secretariat could ensure the implementation and coordination of the initiative for countries in the Franc zone. In addition, the ministers noted that EITI is not exclusive to oil, but applies to all extractive industries. Therefore, it will potentially impact on most if not all Franc zone countries. They also embraced the principle of the initiative and the knock - on effect it would have on governance and investment climate, which over time will encourage private investment and international trade.

• Talisman Energy publishes company policy on “communicating financial transparency”. Talisman publishes the amount of taxes and royalties it pays in every country of operation. In this article, originally published on the Melcrum website and re-produced with permission on the PWYP website, Talisman explains what it sees as the benefits of "publishing what you pay" to host governments. Information on Talisman’s country-by-country payments for 2003 and 2002 are available on their website.

• Congo Brazzaville: Government commits to participate in EITI. The Government of the Republic of Congo issued a public statement on the website www.congo-site.com declaring that it will participate in the Extractive Industries Transparency Initiative. The PWYP Congolese coalition in response issued a press release welcoming the government’s declaration but urged that immediate and meaningful action must be taken in order to deliver on their commitment. The NGO coalition is also calling for, among other things:
  - active engagement and collaboration with the government in the design and implementation of the EITI;
  - full publication of the audit of SNPC, the state owned oil company; and
  - an end to confidentiality clauses in contracts.

• Nigeria: The IMF Article IV report on Nigeria includes an analysis of the government’s approach to implementing the Extractive Industries Transparency Initiative.

• EITI website http://www.eitransparency.org/- has been launched. The website contains comprehensive information on EITI, progress and problems on country implementation, participant information, key documents and regular news updates.

• The Government of the Kyrgyz Republic, the World Bank and DFID hosted a conference in Bishkek on 30 June to officially launch the Kyrgyz Republic’s implementation of EITI. This followed a government resolution on the adoption of EITI principles on 14 May. The Government of the Kyrgyz Republic has established both an implementation committee to drive EITI forward within government, as well as a wider multi-stakeholder advisory board.

• Abuja Deklaration: On 26 June, President Olusegun Obasanjo of Nigeria and President Fradique De Menezes, of Sao Tome and Principe, signed a joint declaration regarding transparency and governance in the Joint Development Zone between Nigeria and Sao Tome and Principe. The agreement aims to ensure transparency in payments, expenditure and other dealings in the transactions in the development zone. The highlight of the nine-point Abuja Joint Declaration is the following: "All payments to the Joint Development Authority by oil companies shall be made public on an individual company basis, quarterly and annually, by the Joint Development Zone and by the companies. Our guidelines for this reporting are those adopted by the Extractive Industries Transparency Initiative.” The declaration also recognised the importance of engaging civil society .

Last correction date of the file: 24/7/2008 - 14:50:29