The OECD Convention to combat Corruption committed to the signatory states to introduce the legal modifications needed in order to punish acts of bribery of foreign public officials made by their nationals, in order to obtain a benefit irregular in the implementation of international economic activities. It also sets out recommendations for companies to prevent the concealment of some expenditure in the accounting records and money-laundering.
The oecd countries adopted in 1997 the Fight against corruption of Foreign Public Officials in international commercial transactions (also known as “ Anticohecho Convention ”), together with the revised recommendation 2009 to strengthen the fight against corruption of foreign public officials in international commercial transactions and its Annexed (good practice guides) and the recommendation of 2009 on fiscal measures to strengthen the fight against corruption of foreign public officials in international commercial transactions, are the oecd instruments that oblige the member states to combat corruption of foreign public officials, tipificándose both money-laundering as a crime linked to corruption (these texts are available on the leaflet contained at the end of this page).
The convention aims to ensure free competition, not flawed by corrupt practices. This objective has been translated into the commitment undertaken by signatory states, to introduce the legal modifications needed in order to punish acts of bribery of foreign public officials made by their nationals, in order to obtain or retain a contract or other irregular benefit in the implementation of international economic activities.
This Convention, has been signed to date by 41 countries: the 34 members of oecd (Germany, Australia, Austria, belgium, canada, Chile, Korea, denmark, slovenia, spain, united states, Estonia, finland, france, greece, hungary, ireland, Israel, iceland, italy, japan, luxembourg, mexico, netherlands, new zealand, Netherlands, poland, Portugal, united kingdom, czech republic, slovakia, Sweden, switzerland and turkey), Argentina, brazil, Bulgaria, Colombia, latvia, russia and south africa.
The convention stipulates obligations for countries on four aspects:
For further information, please consult the following information booklet, co-edited by the ministry of economy and competitiveness and the ministry of justice, and entitled“The OECD convention to combat Corruption – information for spanish companies with activities abroad [PDF]”.
They can also learn both on the The convention as on the allegations of acts or practices of corruption in international commercial transactions in the website of the Ministry of justice as well as in its section OECD - Fight against corruption.
Spain is participating in the following reform processes:
United Nations Commission on International Trade Law (UNCITRAL)
In 2017, UNCITRAL mandated Working Group III to study the possible reform of the investor-state dispute settlement (ISDS) system, adopting a government-led approach based on consensus and transparency. The Working Group was tasked with identifying existing concerns, assessing the desirability of reform, and, where appropriate, proposing solutions, while leaving it up to States to decide whether to adopt them.
In parallel, in 2018 the Council of the EU authorized the European Commission to negotiate an agreement to establish a permanent multilateral investment court, as part of the EU’s new approach that replaces traditional arbitration with a judicial system. The goal is to address public concerns through an independent, transparent tribunal with permanent judges, the possibility of appeal, and effective enforcement of its decisions, applicable to both current and future investment treaties.
Spain participates in Working Group III as a member state of UNCITRAL.
For more information:
OECD Track II on the Modernization of Investment Treaties
About 2,000 of the investment treaties currently in force were concluded decades ago under different economic circumstances and with different objectives. Experience gained since the early 2000s in the application and interpretation of these treaties has led to a widespread shift in the way substantive provisions are designed. However, these new designs are not reflected in older treaties. Under Track 2 of the OECD-sponsored work program on the future of investment treaties, governments from over 100 jurisdictions are exploring whether the substantive provisions of older-generation treaties should more closely resemble recent designs and how a transition could be achieved in a pragmatic manner. This work complements that being carried out at UNCITRAL.
For more information:
Modernising investment treaties (Track 2) | OECD
WORLD TRADE ORGANIZATION (WTO) - AGREEMENT ON INVESTMENT FACILITATION FOR DEVELOPMENT
The Agreement on Investment Facilitation for Development (IFD Agreement) is a plurilateral agreement aimed at improving the investment climate, particularly in developing countries, by increasing transparency, predictability, and simplifying administrative procedures related to investment. In doing so, it seeks to attract more efficient and sustainable investments that contribute to economic development and the integration of these countries into the global economy.
This plurilateral agreement, based on most-favored-nation (MFN) treatment, is open to all WTO members. Unlike multilateral agreements, plurilateral agreements within the WTO framework are binding only on the members that have accepted them (in accordance with Article II:3 of the Marrakesh Agreement Establishing the World Trade Organization). Nevertheless, their incorporation into the WTO’s legal framework requires the acceptance of all WTO members.
Currently, the FID Initiative includes 129 WTO Members (including Spain) spanning all regions and representing three-quarters of WTO Members.
For more information:
https://www.wto.org/spanish/tratop_s/invfac_public_s/invfac_s.htmThanks for your comments.
