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Draft law on Romania's accession to OECD Anti-Bribery Convention, approved by Government.
The Government on Wednesday adopted a draft law on Romania's accession to the Convention on Combating Corruption of Foreign Public Officials in International Economic Operations, passed in Paris on November 21, 1997 and entered into force on February 15 1999, told Agerpres.
According to a Government release, the draft law establishes an important conditionality in the process of Romania's accession to the OECD, namely the accession to the organization's Anti-Bribery Convention.
"The speedy completion of the procedure for joining the convention is a commitment assumed by the Prime Minister of Romania in the reply letter addressed to the Secretary General of the OECD dated May 3, 2023", the release reads.
Accession to the OECD Anti-Bribery Convention is likely to generate a favorable long-term macroeconomic impact regarding the consolidation of Romania's position in relation to the main international financial evaluation/rating institutions, with positive repercussions in accessing external loans.
It will also bring direct benefits in attracting foreign investments, both from the perspective of safety and predictability offered by the OECD membership status, and at the level of better information of the external business milieu, for which the organization's studies and data on the economic situation of a country often represents a more credible source than those made by the institutions of the country in question.
Image advantages are also obtained and the credibility of Romania increases in the relationship with the important partners from the OECD - the USA, the largest European and non-European economic actors, with the states of the region and in general in international relations, the press release explains.
"According to the Anti-Bribery Convention, member states are obliged to take measures to prevent the corruption of public officials in international economic operations, including the implementation of policies and procedures to discourage bribery, promoting awareness among companies about the risks and the consequences of bribery. The Convention also provides for mutual legal assistance between member states in the investigation and prosecution of crimes of corruption of foreign public officials in international economic operations. The OECD monitors the level of compliance of member states' legislation, policies and practices. The anti-bribery working group with the standards of the Convention through a peer review process, which evaluates the implementation and application of the anti-bribery measures of the member states", stated the Government.
