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“INTRODUCTION OF THE INTERNATIONAL ANTI-CORRUPTION AND GOOD GOVERNANCE ACT OF 2000” mentioning the U.S. Dept. of Commerce was published in the Extensions of Remarks section on pages E1060 on June 20, 2000.
The publication is reproduced in full below:
INTRODUCTION OF THE INTERNATIONAL ANTI-CORRUPTION AND GOOD GOVERNANCE
ACT OF 2000
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HON. SAM GEJDENSON
of connecticut
in the house of representatives
Tuesday, June 20, 2000
Mr. GEJDENSON. Mr. Speaker, I rise in support of the International Anti-Corruption and Good Governance Act of 2000, legislation I introduced today to make combating corruption a key principle of U.S. development assistance.
This bill will help to accomplish two objectives of pivotal importance to the United States. By making anti-corruption procedures a key principle of development assistance, it will push developing countries further along the path to democracy and the establishment of a strong civil society. Moreover, by helping these countries root out corruption, bribery and unethical business practices, we can help create a level playing field for U.S. companies doing business abroad.
According to officials at the U.S. Department of Commerce, during the past five years, U.S. firms lost nearly $25 billion dollars-worth of contracts to foreign competitors offering bribes.
Bribery impedes trade and hurts our economic interests by providing an unfair advantage to those countries which tolerate bribery of foreign officials. By making anti-corruption procedures a key component of our foreign aid programs, this bill will help those countries to set up more transparent business practices, such as modem commercial codes and intellectual property rights, which are vital to enhancing economic growth and decreasing corruption at all levels of society.
My bill requires U.S. foreign assistance to be used to fight corruption at all levels of government and in the private sector in countries that have persistent problems with corruption--particularly where the United States has a significant economic interest.
The United States has a long history of leadership on fighting corruption. We were the first to criminalize international bribery through the enactment of the Foreign Corrupt Practices Act of 1977. Moreover, United States leadership was instrumental in the passage of the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transacations. Enactment of this bill would be a logical next step.
Corruption is antithetical to democracy. It chips away at the public's trust in government, while stifling economic growth and deterring foreign economic investment. In addition, corruption poses a major threat to development. It undermines democracy and good governance, reduces accountability and representation, and inhibits the development of a strong civil society.
This bill takes a comprehensive approach to combating corruption and promoting good governance. By outlining a series of initiatives to be carried out by both USAID and the Treasury Department, the legislation addresses the political, social and economic aspects of corruption.
As the largest trader in the global economy, it in the United States' national interest to fight corruption and promote transparency and good governance. Not only does it help to promote economic growth and strengthen democracy, but it helps to create a level playing field for U.S. companies that do business overseas.
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