We are witnessing an increasingly worrying disconnect between buoyant financial markets on the one hand and a stubbornly weak real economy leading to uncertain prospects for companies, and enduring economic hardship for people, said OECD Secretary-General.
The OECD has much to offer to the G20 and can help the Presidency to deliver concrete and meaningful outcomes on the issue of financing for investment, said Angel Gurría, OECD Secretary-General.
The revised OECD Guidelines for Multinational Enterprises are here to sustain a culture of responsible business conduct worldwide. They empower enterprises to meet their responsibilities toward society and provide clearer expectations for companies. This reduces uncertainty and makes doing “good” business easier.
Secretary-General Angel Gurría discusses the efforts of the OECD to support Egypt, Jordan, Morocco, Tunisia and other MENA countries to restore investor confidence, tackle unemployment and foster policy conditions for strong, sustainable and balanced growth.
Secretary-General Angel Gurría discussed how co-operation is key in order to best use international capital flows as a tool to finance growth and development that make our economies more prosperous and resilient while dealing with their challenges.
The economic crisis that started in 2007 gave rise to a crisis of legitimacy and a widespread collapse of trust in markets, in firms, and in the governance of our economies. We need to build up that trust again and the OECD Guidelines for Multinational Enterprises and the OECD Anti-Bribery Convention are essential tools for fighting bribery and promoting responsible corporate behaviour.
We have made some incredible progress from a time when bribes were considered just part of doing business and companies could claim them back as a tax deduction. But there is still a long way to go. One of our main challenges is ensuring enforcement, said OECD Secretary-General.
"At the end of the day, this is what the G20 is about: its “raison d’être” is to show leadership and equip the global economy with an efficient framework for policy coordination. And trade in raw materials and in food commodities should be no exception to this.", said M. Gurría.
Combating bribery and corruption has become a top global priority, and it is central to our mission. We need to enhance our anti-corruption efforts, strengthen their coherence and improve cooperation with other important actors, like the legal profession practitioners, said Angel Gurría.
Mr. Gurría welcomed the G20's strong political will to fight against corruption and underlined the OECD's anti-corruption global standards on bribery, public procurement, export credits, aid and tax heavens.