Third Meeting of the PD-NR, 17-18 November 2014

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Key outcomes

Under the co-chairmanship of Kazakhstan, Korea, Liberia and Norway, nineteen delegations from Africa, Asia, Europe, and Latin America (Bolivia, Chile, European Union, France, Germany, Ghana, Guinea, Kazakhstan, Korea, Liberia, Mexico, Mongolia, Norway, Oman, Peru, Philippines, Russian Federation, South Africa, Switzerland), as well as representatives from the Inter-American Development Bank, the International Monetary Fund, the United Nations Development Programme and the World Bank convened at the OECD on 17-18 November for the Third meeting of the Policy Dialogue on Natural Resource-based Development. Twenty-three multinational mining, oil & gas companies, industry associations and civil society organisations also joined the multi-stakeholder consultation on 17 November.

Participants stressed the importance and relevance of this interactive dialogue platform where governments and stakeholders can exchange openly and frankly, bring in their perspectives, share their knowledge, experience and challenges, and work together towards mutually beneficial solutions. Through constructive and continuous engagement, the Policy Dialogue is progressively consolidating a community of knowledge and practice committed to advance work across the substantive work streams as follows:

Work Stream 1 - Shared value creation and local development

Participating countries endorsed the Conceptual Framework for Country Reviews on Shared Resource-based Value Creation and agreed to move forward with in-country OECD and non-OECD collaborative analysis (at national or regional level), feeding into the comparative analysis of country practices.
Participating countries and stakeholders in the consultation welcomed the Draft Operational Framework on Public-Private Collaboration for Shared Resource-based Value Creation. A Multi-Stakeholder Drafting Committee has been established to produce an advanced draft for consideration at the next meeting in June.
Participants further agreed to complement the chart on opportunities for backward, forward and horizontal linkages for the oil and gas industry with a similar chart for the mining industry.

Work Stream 2 – Stabilisation funds and revenue spending

Participating countries took note of the revised questionnaire on the performance of stabilization funds and public investment options and agreed to use the questionnaire as a tool to carry out comparative analysis of country practices. The results of the study will be tabled at the next meeting in June.

Work Stream 3 – Getting better deals

Participating countries endorsed the proposal by the OECD to survey OECD and non-OECD methods to determine appropriate prices for minerals. The preliminary findings will be submitted for consideration at the next meeting in June. This work is intended to enable countries tackle more effectively transfer pricing issues and reduce asymmetry of information in contract negotiations.

Work Stream 4 – Detecting corruption risks in extractives

Participants agreed to identify, through a multi-stakeholder process, high-risk scenarios of corruption in extractive industries through an empirical and bottom-up approach, drawing on existing case-law, systematising concrete experiences and information available from different sources, like the G20, the World Bank and UNDP.

Development Centre

Third Meeting of the PD-NR, 17-18 November 2014

Key outcomes