The Addis Ababa Action Agenda notes that countries relying significantly on natural resource exports face particular challenges.
The Addis Agenda specifically:
- Encourages investment in value addition, processing and productive diversification
- Commits to addressing excessive tax incentives related to these investments, particularly in extractive industries
- Encourages countries to implement measures to ensure transparency, and takes note of voluntary initiatives such as the Extractive Industries Transparency Initiative
- Commits Governments to share best practices and promote peer learning and capacity building
Latest developments
Extractive industries, due to the large volumes of transactions, rents and profits connected with mining and fossil fuel exploitation, seem to attract more attention from corrupt actors than other sectors. This relationship has motivated the early and more advanced development of transparency norms in the sector, such as the Extractive Industry Transparency Initiative and the European Union’s adoption of an Accounting Directive that has, since 2016, required public country-by-country reporting of payments to Governments by the extractive and logging industries. On the positive side, surveys of firms in many countries suggest a decline in bribery.