Myanmar Parliamentary Briefing: Contract Disclosure

Laws and contracts establish the rights and responsibilities of governments and the companies with which they negotiate; these determine what a country might gain from natural resource extraction. In countries in which legislators have the power to ratify petroleum and mineral contracts, it is crucial that the lawmakers scrutinize agreements objectively to maximize the benefits of projects and minimize risks. Once contracts have been finalized, members of parliament (MPs) have a critical role in monitoring implementation and ensuring that the terms of contracts and any overarching legislation are respected by all parties.