Myanmar looks at Phl industry initiatives

YANGON — Myanmar is looking at the Philippines’ EITI application process to incorporate in its own bid to become compliant with the EITI or the Extractive Industries Transparency Initiative, a global standard that calls for disclosure of payments and receipts from extractive industries.

Myanmar in particular lauded the creation of a multi-stakeholder group as part of the implementation of the EITI.

Min Zarni Lin, deputy team leader of Myanmar EITI Cooperation Office recognized the Philippines’ inclusion of civil society organizations in the EITI Process, saying that this would make the initiative more transparent.

“The multi-stakeholder group in the Philippines is very good,” he told Southeast Asian journalists here.

In May, the Philippines made it as a candidate country to the EITI, a move that hopes to improve transparency and good governance in mining.

Last year, President Benigno Aquino issued an executive order, which institutionalizes and implements reforms in the mining sector and mandates the establishment of mechanisms to operationalize EITI in the mining sector.

Furthermore, the EO also mandates the establishment of mechanisms to make mining operations transparent through the EITI “in consultation with the mining industry and other concerned stakeholders.”

EITI is also becoming a big issue in resource-rich Myanmar, Lin said.

He said his country is aiming to be a candidate member of EITI by end 2013.