G8 transparency: UK and France join the Extractive Industries Transparency Initiative

The UK Prime Minister, David Cameron, announced on 22 May 2013, that the UK government intends to sign up to the Extractive Industries Transparency Initiative (EITI). EITI was set up to help tackle corruption, to improve the way revenues from oil, gas and minerals are managed and to make sure that people across the world share in the economic benefits of the natural resources in their country.

The commitment, made following the Prime Minister’s meeting with the French President, François Hollande, on 22 May 2013, is part of a joint agreement with the French Government and will mean both governments will apply for formal candidacy of the EITI.