4419 - Galeria_single | MMPH

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Tirana, 22.04.2017 – “This is an important initiative for all countries that are rich in mineral resources, and it has the full support of Prime Minister Mustafa and Minister Stavileci. Membership in EITI implies the establishment and oversight of transparency in the natural resource extractive industry, thus helping the revenues from this area have a higher impact on the economic development of the country”, said the Deputy Minister of Economic Development, Besa Zogaj - Gashi, in the opening of the workshop “Kosovo's Membership Process in EITI (Extractive Industries Transparency Initiative)”, organized by the Ministry of Economic Development and the Open Society Foundation KFOS.

Zogaj - Gashi further stated that with the achievement of EITI membership, Kosovo will improve the investment climate to encourage investors and international financial institutions, adding that the Government of Kosovo is committed to progress in this process.

“In this context, as part of the European reforms agenda and program of the Government, we have given priority to good governance, rule of law, competitiveness and creation of investment conditions, while the main objective is transparency in mineral assets,” said Deputy Minister Zogaj Gashi, adding that Kosovo is rich in mineral resources, which represent a significant potential for the country’s economic development.

“Kosovo has 11 areas of interest that mainly include areas rich in mineral resources, and investments in such areas can be done by credible investors, through the Law on Strategic Investment, which creates facilities for larger companies that want to bring their investment capital in Kosovo”, said Zogaj-Gashi.

Deputy Minister Zogaj - Gashi said that this initiative is also foreseen in the strategic document ‘Mining Strategy of the Republic of Kosovo 2012-2025’.

From his part, Ingilab Ahmadov, director of EuroAsia Hub, explained why it is important and what can the country benefit from this highly popular initiative with 52 member states. According to him, EITI is a very challenging process due to the triangle involved in this process, namely the Government, companies and civil society.

“The objective is to ensure that the natural resources are returned into a public asset to ensure sustainable development” said Ahmedov.

Luan Shllaku, Executive Director of KFOS, informed the attendees that the initiative for Kosovo’s membership in EITI has already received support by the Government of Kosovo and, according to him, this will help the country increase its transparency on the use of mineral resources, including an impact on the country’s economic development.

This initiative was also supported by MP Sala Berisha Shala, who considered that Kosovo’s membership in EITI is of particular importance, as it allows for the country’s economic development.

Oleksiy Orlovsky Board Member in EITI said he is committed to help Kosovo and Albanian in the steps towards EITI membership, and added that he will offer his best experiences to ensure that Kosovo becomes soon member in EITI.

EITI standard means the establishment and oversight of transparency in the extractive industry for natural resources, ensuring that the revenues from this business contribute more to the country’s development. This initiative was supported by many international organizations such as World Bank, International Monetary Fund, International Council for Minerals and Metals, including the Millennium Challenge Corporation (independent US agency).

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