OECD Trade Committee Issues Bribery and Export Credit Recommendations

On May 11, 2006, the Working Party on Export Credits and Credit Guarantees (EGG), Trade Committee of the OECD issued a statement of recommendations on Bribery and Officially Supported Export Credits. The statement will provide additional standards and soft law to prevent and combat bribery that occurs in international business transactions arising from official expert credit. The EGG agreed to fight bribery in international business transactions as a priority issue to ensure the implementation of the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (the Anti-Bribery Convention) and the 1997 Revised Recommendation of the Council on Combating Bribery in International Business Transactions (the 1997 Recommendation). The statement was issued pursuant to Article 12 of the Anti-Bribery Convention … [more]