What it is
The OECD Anti-Bribery Convention establishes legally binding standards to criminalize bribery of foreign public officials in international business transactions and provides for a host of related measures that make this effective. The signing of the Convention in 1997 was a major breakthrough in the fight against corruption. It is the first and only international anti-corruption instrument focused on the supply side of bribery. All countries that adhere to the Convention must make the bribery of foreign public officials a criminal offence.
Why it matters
These legally binding standards have clearly positioned the OECD as a leading institution in the international fight against corruption. BIAC has been an active partner for the OECD since the Convention was developed and supports effective implementation as well as continued expansion of signatories to work towards a truly global level playing field. In addition to implementing the Convention and related legal instruments, the OECD is addressing anti-bribery issues in a wide range of policy areas, including responsible business conduct, taxation, procurement, export credits, to name just a few. Through its Integrity Initiative, the OECD draws together existing anti-corruption tools, reinforces their implementation, improves co-ordination among relevant players and monitors progress towards integrity. It has thus established itself as a key international organization in this area.
How it impacts business
Corruption is a major obstacle to economic and social development around the world. It distorts markets, stifles economic growth and undermines the rule of law. Corruption also considerably adds to the total cost of doing business globally. This is why both policy makers and business leaders around the world have been pressing for greater transparency and coordination. BIAC strongly supports the OECD efforts to fight bribery and corruption and provides regular input to the implementation of the Convention as well as to other OECD activities dealing with anti-corruption, compliance and integrity. Please see the Policy Groups page for further details.
To access the most recent most recent papers and publications on Anti-Corruption/Bribery, please click here.
