AN ERITREAN delegation led by Ambassador Girma Asmerom has participated at the G77 Ministerial Meeting on ‘Governance of Natural Resources and Industrialization‘ that took place in Bolivia from 28-29 November 2014.
The Ministerial meeting was aimed at providing a forum for discussing analytical frameworks and exchange of experiences on the governance and management of natural resources and industrial development amongst members of the Group of 77 and China (G77).
In a brief statement he made during the meeting, Ambassador Girma noted that Eritrea’s development strategy is based on the principle that every citizen is entitled to equal access and opportunity towards the country’s resources as all mineral resources in the country belongs to the public.
He also underlines that Eritrea’s peaceful and politically stable and corruption free environment together with an outstanding investment law augured by strong commitment from the government to develop its extractive industry has already attracted 17 companies from different countries.
Ambassador Girma also touched on Eritrea’s untapped fish industry that has a potential of producing up to 80,000 mt fish annually besides the other marine resource potentials, tourism, port service and manufacturing sectors including food security agricultural projects which are all at a take-off stage.
In line with the principle of driving a real benefit to the country out of its resources, an emphasis is being made in terms of equal partnership and equitable share of benefits with all investors in the mining sector and as such, he said, Eritrea has already succeeded in raising its shares up to 40-50 percents.
The G77 ministerial event was organized by the Plurinational State of Bolivia, as Chair of the G77 and China in coordination with the
United Nations Industrial Development Organization (UNIDO) and the United Nations Regional Commissions, namely the Economic Commission for Latin America and the Caribbean (ECLAC), the Economic Commission for Africa (ECA), and the Economic and Social Commission for Asia and the Pacific (ESCAP).
Below is the full statement made by Ambassador Girma Asmerom at the G77 meeting :