Prime Minister Gordon Darcy Lilo describes his recent engagement in the Extractive Industries Transparency International, EITI, global conference in Sydney Australia as fruitful and a successful one.
Speaking to local media upon his arrival at Honiara International Airport yesterday, Mr. Lilo says Solomon Islands is the only country in the Oceania that is in the advanced stage of becoming a member of the EITI.
“Now this is crucial because it will enhance transparency in the way Solomon Islands develop its natural resources in the mining sector,” said Prime Minister Lilo.
He adds, as a member of the EITI, mining or energy companies who wish to invest in the country's mineral sector with the government will now have to disclose transaction details to all stakeholders, an important mechanism to promote understanding and unity.
The Prime Minister says the membership of Solomon Islands in the EITI is therefore 'right', when the country kicks off its mineral program.
Meanwhile Mr. Lilo assures resource owners that the country's membership in the EITI will also enable them to see the amount of money the companies are paying the government for their natural resources and other internal transactions.
Press Release, GCU