Trade & investment

Gird UN anti-corruption convention with good monitoring

  • 15 December 2006

Monitoring and other follow-up measures are essential for the UN Convention against Corruption to be fully effective, the International Chamber of Commerce said at the first Conference of the States Parties to the convention.

Speaking on behalf of the global business community, Francois Vincke, Chair of the ICC Commission on Anti-Corruption said: “Without rigorous implementation, the convention will fail to make real progress in tackling corruption across the world.” The five-day conference ended 14 December.

600 ministers, policymakers and representatives from business and civil society gathered at a Dead Sea resort in Jordan to discuss progress made since the convention went into force December 2005, including compliance and monitoring and technical aid to build up the ability of countries to beat back corruption.

The convention is the first legally binding, anti-corruption instrument that is global in scope, and deals with corruption in government and business. To date, 140 countries have signed it and 80 have ratified it. ICC furnished input to the drafting of the convention.

The World Bank estimates more than $1 trillion is lost each year to pay bribes, draining the world economy of investment and developing countries of funds to reduce poverty and address development objectives.

“Business needs a sound global economic environment, where talent, integrity and innovation are rewarded and foul play is condemned,” Mr Vincke added.

Mr Vincke issued a declaration on behalf of the global business community, which was prepared by the ICC’s Anti-Corruption Commission together with representatives of the World Economic Forum’s Partnering Against Corruption Initiative, the Fédération Internationale des Ingénieurs Conseils and the Global Compact. The declaration recommended steps to bolster monitoring and follow-up to the convention, including: a transparent, regular review of the convention by all countries; monitoring that addresses solicitation; and technical assistance that includes training and sharing expertise among countries.