Remarks on Russia's Membership in the Working Group on Bribery in International Business Transactions

Thank you very much. It is now time for us to turn to some of the business that will be conducted. And I’m delighted to represent the United States as we welcome Russia’s full membership into the OECD Working Group on Bribery in International Business Transactions. This is an important step for Russia and for all members and partners of the OECD. By enacting legislation that criminalizes bribery of foreign public officials, Russia has removed a major obstacle to doing business and advancing economic growth. We all know that bribery interferes with trade, investment, and development. It distorts competitive conditions. It undermines good governance. It encourages even greater corruption. And of course, it is morally wrong and far too common.