05/03/2008 - The OECD launched its Global Network on Privatisation and Corporate Governance of State-Owned Enterprises with an inaugural meeting in Paris on 5 March 2008. The meeting provided an opportunity for a range of countries with significant state-owned sectors, such as China, India, Russia and more than 20 other non-members, to discuss and exchange experiences with OECD countries on best practices and policy reforms, focusing particularly on the issues of transparency and accountability of state-owned enterprises.
With approximately 100 participants representing ownership agencies, policy makers, regulators and experts from 45 countries and international organisations, the Global Network agreed to serve as an ongoing platform for policy dialogue and exchange of experience in the areas of both corporate governance of state-owned enterprises and privatisation.
The meeting also provided an opportunity for the OECD Working Group on Privatisation and Corporate Governance of State Owned Assets to consult with non-OECD countries on its draft Implementation Guide for Transparency and Accountability in State Ownership (the “TrAc Guide”), building on an online consultation on the Guide held during the previous month.
The TrAc Guide aims at supporting the implementation of the OECD Guidelines on Corporate Governance of State-Owned Enterprises in the area of accountability and transparency. The OECD Guidelines were adopted in 2005 and have become a global reference for countries introducing governance reforms in their state-owned sector. Around the world, governments are important owners of commercial enterprises. How well these enterprises are governed has a substantial impact on their effectiveness, and hence on the economic growth and public finances of economies concerned.
Participants provided the OECD Working Group with numerous valuable comments and suggestions that will ensure the usefuleness and relevance of the Guide globally. The TrAc Guide will be finalised in April 2008 and used in policy dialogue with non-OECD countries in Asia, Africa, the Middle-East and North Africa and Latin America in the coming years. It will also be used by other international organisations and donors as a reference for their technical assistance programmes.