Latvia has completed the process to become a member of the OECD Anti-Bribery Convention. It will become the 41st party to the Convention on May 30.
“Joining the Convention will enable Latvia to play a more active role in global efforts to tackle bribery and corruption,” OECD Secretary-General Angel Gurria said. “It also marks an important step in strengthening Latvia’s ties with the OECD in the current accession process to our Organization.”
The OECD invited Latvia to join the OECD Working Group on Bribery in September 2013 and take the necessary steps to become a party to the Convention.
Latvia will undergo reviews on the implementation of its anti-bribery laws, beginning with its first examination in June.
The OECD Anti-Bribery Convention came into force in 1999. It prohibits the bribery of foreign public officials in international business transactions.
In addition to Latvia, parties to the Convention are the 34 OECD member countries, plus Argentina, Brazil, Bulgaria, Colombia, Russia and South Africa.
Julie DiMauro is the executive editor of FCPA Blog and can be reached here.