Combating corruption has been one of the major international issues. Within the OECD, work has been done to develop contacts with countries outside the OECD who also offer export credits and export credit guarantees. The Berne Union has adopted new guiding principles.

EKN is a member of the Berne Union (International Union of Credit and Investment Insurers), which has more than 50 government and private members from various parts of the world. During 2005, they insured risks to the value of more than one trillion US dollars.

Common values for members of the Berne Union

At its annual meeting in 2006, the Berne Union adopted new Guiding Principles. These set common values for the members’ activities, and include principles for sound business ethics, rigorous risk assessments, financial balance, adherence to international agreements, regard for the environment, anti-corruption and so on.

The principles underpin the Berne Union’s efforts to promote cooperation and stability in international trade. It is also hoped that they will contribute to levelling the playing field among members in the OECD countries and those in other countries.

The principles can be found on the Berne Union’s website, and there is a link to it on EKN’s website under “Links”.

Based on these general principles, various committees within the Union are producing more specific standards and guidelines for short-term and long-term export credit insurance and investment insurance.

The OECD reaches out to other countries

In recent years, the OECD countries have come across several situations in which non-member states are offering terms and conditions for exports that are more generous than those permitted under the OECD rules. The OECD Export Credit Group is continuing to monitor the competition from outside, and is seeking in various ways to deal with the situation.

The OECD’s work in the export credits field has focused more and more on the importance of reaching out and working with economies outside the OECD. In the light of the growing competition from countries like Brazil, Russia, India and China (the BRIC countries), the export credit groups have made particular efforts to approach these countries. During autumn 2006, a number of non-members were observers at OECD export credit meetings, and are likely to continue down that path.

Stronger action against corruption

In order to combat corruption in export transactions, the OECD countries’ export credit and guarantee agencies has for several years pursued joint policies and procedures. During 2006, a new OECD Recommendation on Bribery and Officially Supported Export Credits was adopted.

The Recommendation involves further action to combat corruption in export transactions. The new rules, which EKN has been applying since 1 January 2007, mean that more information is gathered about exporters’ relationships with agents, and there are checks against public international lists of blacklisted companies.

Sustainable development in focus

In the summer of 2006, the EU Commission organised a seminar on sustainable development and export finance. A large number of participants came from export credits and guarantee agencies, non-governmental organisations, companies and banks. The discussions dealt with topics such as concern for the environment, and the sustainable debt situation for poor countries. The debt burden issue has also been discussed at the OECD and the Berne Union.

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