Update on negotiations for a new OECD Action Statement on Bribery & ECAs

(ECA Watch, Paris, 23 Feb. 2006) The OECD's working group on ECAs is due to meet March 2-3 to take up negotiations on an enhanced Action Statement on Bribery and ECAs. As noted in our November 2005 What's New, the G8 countries in July 2005 committed to strengthening anti-bribery requirements for companies applying for export credits and credit guarantees. However, OECD ECAs have not been able to reach a consensus to-date, with Germany and Japan blocking agreement, according to internal documents cited in a 15 Feb. 2006 Financial Times article.