Extractive Industries Transparency Initiative (EITI) – Working Group on Commodity Trading Transparency

The commodity trading industry’s contribution to developing country economies far outstrips official aid budgets and is higher than that of traditional extractive industries companies. Commodity trading remains essential to the global economy and plays an important role in organizing the flows of vital materials that underpin economic growth, including outputs like oil, gas, minerals, and metals. Commodity traders operate globally with Switzerland hosting some of the largest companies, most of which are private and therefore not covered by mandatory disclosure requirements.
The widespread perception of corruption and the lack of accountability poses significant governance challenges for producing states and business risks for the trading industry. Commodity trading needs greater transparency, oversight and detailed disclosures of payments so governments can begin to address and mitigate corruption risks and increase accountability to the public.