President receives Chair of the Extractive Industries Transparency Initiatives

2020-01-28 12:34:41

Ulaanbaatar /MONTSAME/ President of Mongolia Kh.Battulga, who is paying a visit to the Kingdom of Norway, received Ms. Helen Clark, Chair of the Extractive Industries Transparency Initiatives (EITI).

Guided by the belief that a country’s natural resources belong to its citizens, the EITI has established a global standard to promote open and accountable management of oil, gas and mineral resources.

Mongolia joined the initiatives in 2007 and Ms. Helen Clark noted during her meeting with the President of Mongolia that the country actively takes part in the initiatives and works diligently for promoting transparency of extractive industry.

At the meeting, President Kh.Battulga expressed his full support for the initiatives of the transparency, which makes income and owners of mining sector transparent and provides opportunity to citizens to easily monitor spending of the income in Government actions and what benefits are coming from mining sector. While highlighting the significance of transparency to set up a Sovereign Wealth Fund, the President invited specialists of this proficient organization to visit Mongolia and asked to cooperate.

In response, Ms. Helen Clark accepted the proposal made by the President of Mongolia and expressed thanks for his time.