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After a decade of relatively strong growth, Latin America is facing headwinds associated with declining trade, a moderation in commodity prices and increasing uncertainty over external financial conditions, according to the latest Latin American Economic Outlook jointly produced by the OECD Development Centre, the UN Economic Commission for Latin America and the Caribbean (UN ECLAC) and CAF - Development Bank of Latin America.
Costa Rica adhered today to OECD legal instruments on Internet governance and international business conduct, demonstrating its willingness to align its policies to best practices in these areas and work together with the Organisation.
OECD Secretary-General Angel Gurría said that while OECD countries breathed a sigh of relief following the U.S. Congress’ steps to lift the debt ceiling and to end the partial federal government shutdown a longer term solution will need to be found.
New Zealand must significantly increase its efforts to detect, investigate and prosecute foreign bribery. Since joining the Convention over 12 years ago, New Zealand has not prosecuted any cases of foreign bribery and only four allegations have surfaced to date. Outdated perceptions that New Zealand individuals and companies do not bribe may have also undermined detection efforts.
Russia has yet to address key provisions of the OECD Anti-Bribery Convention, which entered into force in Russia in April 2012. It has not yet fully implemented recommendations for strengthening its framework for combating foreign bribery and should be more proactive in detecting, investigating and prosecuting foreign bribery cases.
Fighting foreign bribery is not a priority in Belgium. Together with the flagrant lack of resources for Belgian law enforcement authorities, this has resulted in very few foreign bribery investigations and prosecutions. In the 14 years since the entry into force of the foreign bribery offence in Belgium, only one case of bribery of foreign public officials has been concluded.
The OECD has set out a path for Latvia’s accession to the Organisation, reinforcing a commitment to extend its global membership.
Switzerland has become the 58th country to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters during a ceremony at the OECD.
The OECD is to review its chemical hazard assessment programme with the aim of providing a more specialised service for member countries from 2015.
The OECD will present the eighth edition of the “Latin American Economic Outlook: Logistics and competitiveness for development” on Friday 18 October at 5:00 p.m, in Panama City. This year’s report focuses on how the region can enhance its logistics performance and makes policy recommendations on strengthening trade links, diversifying into higher value-added industries and optimising competitiveness.