The Extractive Industry Development Forum: How Financial Transparency and Economic Transformation Can Help Achieve Development Goals
On 18 November 2011, the Canada-EU Mining Council (CEUMC) and the European Centre for Development Policy Management (ECDPM) organised a round table discussion on financial transparency and economic development, following the release by the European Commission (EC) of the Transparency Directive and the Communication on Budget Support on 12 October 2011 and 25 October respectively.
The objective of the meeting was to discuss how initiatives by the European Union (EU), such as the one on financial transparency and on budget support, could effectively contribute to a better governance of the extractive industry and resource-rich countries towards sustainable and inclusive development, notably in Africa. In doing so, the synergy and complementarity with other approaches in pursuit of similar objectives was also addressed.
The meeting gathered a number of stakeholders working in the field of development and industrial policy and extractive industries, i.e. representatives of the European Commission, EU Member States, mining companies, think tanks and NGOs. It provided opportunities to stakeholders to exchange views and engage in a dialogue with the European Commission and key representatives of extractive industries on the Transparency Directive and the Communication on Budget Support.