Israeli exporters will be required to set policies to prevent bribery, Charles P. Heeter, chairman of the Business and Industry Advisory Committee, told the OECD yesterday.
As opposed to the OECD's policies on other subjects, the anti-bribe policy is not a recommendation but rather an obligation, Heeter told TheMarker. OECD representatives visit member countries to check the degree to which exporters are following anti-bribery policy, he said. If a subsidiary in another country - including non-OECD states - is involved in bribes, the parent company is held responsible.
When Israel was officially inducted into the OECD yesterday, the Israel Manufacturers Association went from being an observer at the advisory committee Heeter chairs to a full-fledged member.
Heeter said he expected Israel to contribute particularly in technology, biotechnology, nanotechnology and foreign trade.
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