There is not enough time for me to discuss these initiatives. I only want to refer back to my earlier comment about the need to concentrate on programs that have a realistic prospect for achieving tangible results in the next few years. Other Initiatives TI and the International Chamber of Commerce have promoted the adoption of corporate compliance programs by the private sector. Such programs are an essential complement to international conventions and national legislation against corruption. Criminal enforcement can deal with a small percentage of violators, if the majority of companies comply voluntarily.
Laws remain ineffective if the majority fails to comply.
TI believes that the World Bank and other international financing institutions can promote more rapid acceptance of corporate compliance programs by making the adoption of such programs a precondition for participation in project that they finance. Such arguments are no longer appropriate now that the OECD Convention has made foreign bribery a crime in 24 major exporting states. I want to express TI s appreciation for the role that the US Government has played in the fight against international corruption. Without strong US leadership such initiatives at the OECD and OAS Conventions would not have gotten underway. Many people at the Departments of State, Commerce, Justice and Treasury have been actively involved.