OECD Washington Conference on Corruption Corruption is bad for business. If the findings of the Washington Conference on Corruption are any indication, the answer is a resounding yes. This unique conference attracted business and government leaders from around the world to Washington, where they spent two days hammering out effective anti-corruption strategies for the future. The private sector is playing a vital role in the fight against corruption. This is true not just for multinationals, but for local firms in emerging economies and developing countries as well.
Corruption is one of the world's oldest and best established vices.
It inhibits development, squanders valuable resources, and undermines the confidence of investors. It is significant that today, as we enter a new millennium, real progress is being made to rid the globe of this insidious influence. The story continues to unfold, but it is clear that the Washington Conference on Corruption represents an important chapter in the burgeoning effort to combat corruption around the world. The Honorable William M. Daley Secretary U.S. Department of Commerce Dr. Jean Bonvin President Emeritus OECD Development Center For the OECD Development Center, the issue of corruption remains one of our top priorities. This is a commitment that is shared throughout the OECD, as evidenced by such successful endeavors as the Convention on Combating Bribery of Foreign Public Officials, conducting research into corruption and aid, and devising solutions to control and prevent corrupt practices within the public administrations of OECD Member countries.