OECD Declaration on Propriety, Integrity and Transparency in the Conduct of International Business and Finance (the PIT Declaration)
The financial crisis and its aftermath have revealed the extent to which the good functioning of markets and hence of the world economy depends on propriety, integrity and transparency in the conduct of business. Countries around the globe have a shared interest in strong, clean and fair markets and in ensuring they deliver sustainable growth and development.
The OECD has worked for many years on developing standards and tools for a stronger, cleaner and fairer economy. It contributed to the elaboration of the “Lecce Framework” adopted by the G8 finance Ministers in Lecce in June 2009. This ultimately resulted in the adoption by OECD countries as well as Brazil and Russia at the 2010 OECD Council Ministerial Meeting, under Italian chairmanship, of the The Declaration on Propriety, Integrity and Transparency in the Conduct of International Business and Finance (the PIT Declaration). Colombia, Morocco and Tunisia adhered to the PIT Declaration on the occasion of the 2012 OECD Ministerial Meeting, followed by Croatia in July 2012.
The PIT Declaration sets out the political commitments of OECD and other adhering countries in the areas of competition, corporate governance, investment and responsible business conduct, tax co-operation, anticorruption, interaction between government and business, quality of regulation and financial literacy and consumer protection.
The PIT Declaration is open to adherence by non-OECD countries.
Requests for further information should be addressed to
Nejla Saula, Legal Adviser, General Secretariat
[Tel: +33 1 4524 8751 email@example.com]
Permanent URL for this page: www.oecd.org/PIT