YEREVAN, MARCH 24, ARMENPRESS. The government of Armenia intends to have a high level of financial transparency of metal mining in the country in the upcoming 1 and a half year.

The fact that Armenia became a candidate country of the EITI - Extractive Industries Transparency Initiative, will contribute to this vision.

An event was held on March 24 entitled “Improvement of transparency of the mining sector” by the USAID. The initiative on making Armenia’s mining field more transparent and accountable was presented at the event, which will eventually contribute to investments and stable economic growth.

The event was attended by PM Karen Karapetyan, deputy ministers, UK’s Ambassador to Armenia Judith  Farnworth, US Ambassador to Armenia Richard Mills, World Bank senior external affairs manager Vigen Sargsyan, representatives of international organizations, members of the EITI multi stakeholder group etc.

Karen Karapetyan delivered opening remarks at the event. According to him , the EITI candidate country fact is the beginning of the process for Armenia, which aims at making one of the most important sectors of Armenia, mining, more transparent and accountable for state bodies, and more competent and aware the citizens.

Karapetyan said during 1 and a half years Armenia must have a high level of financial transparency in metallic mining, with the corresponding EITI reports and complete information for the public.

“I want to thank all our partners, and….let’s go forward”, he said.

The US Ambassador congratulated the Armenian government and the Armenian people in Armenia becoming an EITI candidate country. He highlighted this achievement.

“I want to express special praise for the Armenian leadership and the prime minister’s team, for taking very specific and active steps, which led to goals becoming reality. The US government, through the USAID, World Bank, as well as jointly with the UK embassy assisted the realization of this process. The assistance was made because it was taken into consideration that it will have important significance for the economic development of Armenia”, Ambassador Richard Mills said.

UK’s Ambassador to Armenia Judith Farnworth said Armenia’s membership to EITI is a serious achievement. According to her, the government of Great Britain is willing to continue practical assistance for Armenia, in order for the business environment to get improved, corruption and poverty to decrease.  “I’d like to congratulate everyone and once again affirm our continuous assistance”, she said.