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Kazakhstan Accepted as EITI Compliant
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Kazakhstan Accepted as EITI Compliant

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The Board congratulated the government, companies and civil society organizations in Kazakhstan for the progress made in implementing the EITI. The Board also thanked the Validator and all …

The Board congratulated the government, companies and civil society organizations in Kazakhstan for the progress made in implementing the EITI. The Board also thanked the Validator and all stakeholders involved in the Validation process, and called on the government and the National Stakeholders Council to ensure that the recommendations in the Validation report are implemented for Kazakhstan to maintain its Compliant status.

Published in: Investor Relations

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  • 1. Kazakhstan accepted as 'EITI Compliant' Thursday, 17 October 2013 The international EITI Board designated Kazakhstan as ‘EITI Compliant’ country at its meeting in Abidjan, Cote d’Ivoire. The Board congratulated the government, companies and civil society organisations in Kazakhstan for the progress made in implementing the EITI. The Board also thanked the Validator and all stakeholders involved in the Validation process, and called on the government and the National Stakeholders Council to ensure that the recommendations in the Validation report are implemented for Kazakhstan to maintain its Compliant status. Clare Short, Chair of the EITI Board said: “Kazakhstan has reached an important milestone by EITI family. I hope that all parties will now work transparency will lead to reform in the management bringing real benefits to the people of Kazakhstan countries in the region.” becoming a full member of of the to ensure that this increase in of the extractive industires, and providing leadership in other NurlanSauranbayev, Vice-Minister of Industry and New Technologies said: "Today we have reached the recognition of eight years of EITI implementation activities in our country. And the important thing at this stage is not only the results we’ve received, but also an increasing responsibility in anticipation of the new phase of work on the EITI, that will assume maximum comprehensive contribution.” EITI compliance does not mean that the Compliant country's natural resources are managed in a fully transparent manner, but it does mean that the country has a basic and functioning process to ensure regular disclosure of natural resource revenues. Maintaining compliance will require that the country meets all requirements in the recently revised EITI Standard. As an EITI Compliant country, Kazakhstan is required to: produce EITI Reports annually in accordance with the EITI requirements. To maintain Compliant status the 2012 EITI Report must be published by 31 December
  • 2. 2014 in accordance with the EITI Rules, and the 2013 Report by 31 December 2015 in accordance with the EITI Standard; be revalidated within 3 years, i.e. Validation will commence on 17 October 2016, or earlier upon the request of the National Stakeholder Council. Validation will be conducted in accordance with the EITI Standard. publish an annual report on the previous year’s activities, detailing progress in implementing the EITI. The annual report for 2013 should be published by 1 July 2014; and publish an updated workplan aligned with requirement 1.4 of the EITI Standard by 31 December 2013. Further, the EITI Standard specifies that: Stakeholders in the process may call for a new validation at any time within that period if they think the process needs reviewing; Where valid concerns exist that a country has become EITI Compliant, but its implementation of the EITI has subsequently fallen below the standard required for Compliance, then the Board reserves the right to require the country to undergo a new Validation or face delisting from the EITI; For further information about the EITI in Kazakhstan, please visit www.eiti.org/Kazakhstan or contact Dyveke Rogan at drogan@eiti.org