The UN General Assembly encouraged all member states to increase efforts to embrace and promote transparency and accountability in the extractive industries by unanimously adopting a resolution on the subject of "Strengthening Transparency in Industries."
The resolution, which was passed on September 11, 2008, noted the efforts of countries participating in voluntary initiatives to improve transparency and accountability "including the Extractive Industries Transparency Initiative in the extractive sector." In addition to giving strong support to EITI, it also reaffirmed the General Assembly's "commitment to governance, equity and transparency in the financial, monetary and trading systems."
Furthermore, the resolution encouraged the international community to strengthen capacity building to resource rich countries, particularly when emerging from conflict situations.
The resolution was tabled by the Government of Azerbaijan and co-sponsored by 22 other countries.
LEARN MORE
