EITI Board approved Armenia's EITI candidature application on March 9, 2017 in Bogota, the capital of Colombia and Armenia was granted EITI candidate country status.
Thus, the Republic of Armenia became the 52th country that invests EITI standard.
In this regard Minister- Chief of Staff of the Government of Armenia and MSG Chair Davit Harutunyan said “Implementing EITI will lead to transparency in the mining sector and increase accountability for the society. These factors are essential for improvement of the business environment in the country. A well-managed natural resource extraction can become more profitable for the citizens of Armenia, and the EITI is the right tool to achieve this goal. By dint of EITI a huge amount of relevant data and useful information will be available to the all beneficiaries. And the most valuable aspect of the EITI process is the fact that the multi-stakeholder critical engagement will lead to increased trust and cooperation between all involved parties".
The EITI in Armenia creates a platform for the government, extractive companies and civil society to hold a dialogue on financial accountability in the extractive industries. EITI Bogota Board Meeting was attended by the Delegation of the Republic of Armenia.