By NY Staff
The United Nations, the universal body that overseas the Transparency Initiative in Extractive Industries has agreed to end its suspension on Yemen’s membership as a state on Monday. This suspension had been put into effect in 2011.
Saeed Abdul Momen, a member of the Transparency Alliance of Yemeni Extractive Industries, recently spoke on these developments. He was quoted in the Turkish Anatolia news agency on the reasons beyond Yemen’s membership suspension: namely that the country had failed to prepare annual disclosure reports on national revenue from crude oil, gas, and minerals for the years 2005-2007. It also appeared that what companies were reporting as revenue sent to the government treasury was not corresponding with government reports of received income.
Abdul Momen also explained that Yemen offered to submit its first disclosure report for the missing years in 2012. When the Yemeni Council for Transparency also failed to submit its second disclosure report for the years 2008-2010, the UN body responsible for the Transparency Initiative suspended Yemen’s membership.
Abdul Momen also mentioned that Yemen had contacted the Initiative’s management committee in Oslo to discuss its standing with the Initiative. After discussion with the management body, Yemen was granted until 30 June 2013 to complete its second report. By cooperating with accounting and auditing companies, the Yemeni Council for Transparency would be able to meet this deadline. On this basis, Yemen was allowed re-entry to the Initiative.
According to Momen, Yemen’s renewed its membership to ensures that Yemen will achieve greater clarity in publishing extractive industry revenue. Simultaneously, proper accounting of commercial revenue submissions to the state treasury will stop the corruption that has been rampant in Yemen’s industrial sectors.
Momen confirmed that this step promotes the principles of transparency in extractive industries that are necessary to expand investment bases and encourage donor confidence. He also said that a report on transparency effectiveness in Sana’a will be launched during Eid al-Fitr.
Yemen became a membership candidate in the Transparency Initiative in 2007. It worked to complete the reset of its membership conditions to become a representative member in 2011. In doing so, Yemen became the first country in the region to support the Global Transparency Initiative and the Transparency Initiative of the World Bank.