Remarks by Angel Gurría
28 May 2018 - Paris, France
(As prepared for delivery)
Dear Minister Tuesta, Ladies and Gentlemen,
It is my pleasure to welcome you to the OECD and to congratulate Peru on two crucial milestones: Firstly, its accession to the Anti-Bribery Convention and secondly, its ratification of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. ¡Que buena noticia! This is cause for celebration and another clear signal of Peru’s commitment to OECD values and the highest standards of public policy.
The scale of the global bribery challenge is huge: A recent estimate by the IMF and World Bank put the annual cost of bribery alone at about $1.5 to $2 trillion - roughly 2 percent of global GDP and 10 times the value of overseas development assistance.
By ratifying the Anti-Bribery Convention Peru joins 43 economies, which account for more than half of the world's exports, who are working together to stamp out transnational corruption and create a stronger, cleaner and fairer world economy.
Propelled by the OECD Working Group on Bribery, Peru has had to make significant changes in order to strengthen its combat against transnational corruption and align itself with the "golden" standards of the Convention. The entry into force earlier this year, of Peru's corporate liability law which also covers domestic bribery, money laundering and financing of terrorism, is a clear demonstration of Peru's political commitment to tackle corruption in all its forms.
Joining the Convention is only the first step. Peru will next undergo the Convention’s rigorous and systematic monitoring process. I encourage Peru to use this process to create momentum for the additional changes needed to bring its laws even closer to the Convention’s standards.
And not content with one key ratification, Peru is giving us two! The country is also depositing its instrument of ratification for the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
This is a crucial step towards putting the Convention into force, which is now set to happen on 1st October 2018. We congratulate you on joining the most comprehensive multilateral instrument on cross-border tax co-operation. This includes exchange of information on request, the automatic exchange of information pursuant to the Common Reporting Standard and Country-by-Country Reports of large multinational groups. This is a game-changing, ground-breaking tool in global efforts to tackle tax evasion and avoidance, including through implementation of the BEPS outputs. Today you join over 90 jurisdictions that have ratified the Convention.
Minister, Ladies and Gentlemen,
Count on the continued support of the OECD in curbing corruption in Peru, a corrosive crime that erodes the strength of economies and the trust of citizens. Count also on the continued support of the OECD in promoting tax transparency in Peru, a vital tool for promoting integrity and inclusive growth.
And, last but not least, count on the OECD to continue designing, developing and delivering better policies for better lives in Peru. Congratulations and thank you.