THEME : The Organization for Economic Cooperation and Development (OECD) Convention is an unusual international agreement in that it seeks to coordinate disparate legal and ethical systems in order to arrive at a minimum standard with respect to an important form of white collar crime. It obliges signatory countries, which now include all 30 OECD member countries plus a growing number of non-members, to make the bribery, corruption, extortion, and/or insiders trading of a foreign public official a crime under their laws. Why is this such a difficult policy to implement?
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The OECD Principles
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The World Trade Organization (WTO) came into existence as a successor to the General Agreement on Tariffs and Trade (GATT) in 1995 (About WTO, 2017). The WTO has six core functions. The organization is responsible for coming up with and enforcing laws and regulations pertaining to international trade. It also provides a platform for its members to resolve their trade disputes and encourages them to increase the transparency of member countries’ decision-making processes. The WTO ensures that its members get a chance to take advantage of the global trading system and also takes it upon itself to guarantee trade liberalization (About WTO, 2017). Since its inception, the organization has come under intense criticism for its timid approach to dealing with white-collar crimes, compared to other intergovernmental organizations such
