[Congressional Record Volume 144, Number 106 (Friday, July 31, 1998)]
[Extensions of Remarks]
[Page E1496]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


[[Page E1496]]
INTRODUCTION OF THE INTERNATIONAL ANTI-BRIBERY AND FAIR COMPETITION ACT 
                                OF 1998

                                 ______
                                 

                         HON. MICHAEL G. OXLEY

                                of ohio

                    in the house of representatives

                        Thursday, July 30, 1998

  Mr. OXLEY. Mr. Speaker, since the introduction of the Foreign Corrupt 
Practices Act in 1977, the U.S. has been firmly committed in its battle 
against international bribery and corruption. Unfortunately, our 
policies have left U.S. companies at a competitive disadvantage in the 
international environment, where they frequently lose commercial 
contracts to foreign firms willing to participate in bribery or other 
corruption. This situation has cost American companies billions of 
dollars in lost opportunities over the years.
  Now, through the Organization for Economic Cooperation and 
Development Convention on Combating Bribery of Foreign Public Officials 
in International Business Transactions, signed in December 1997 by 33 
countries including the United States, we have the opportunity to 
ensure that other signatory countries commit themselves to outlawing 
the use of bribery to influence officials or gain business abroad. The 
convention obligates signatory countries to enact domestic laws to 
combat foreign bribery.
  Because the U.S. already has strong federal anti-bribery laws in 
place, the implementing legislation submitted by the administration 
seeks to close loopholes in the statute and otherwise strengthen the 
Foreign Corrupt Practices Act. Building upon the legislation submitted 
to Congress, Commerce Committee Chairman Bliley and I today introduce 
the International Anti-Bribery and Fair Competition Act of 1998. I 
intend to hold hearings in the Subcommittee on Finance and Hazardous 
Materials, which I am honored to chair, when the Congress reconvenes in 
September.
  The proposal requires several definitional adjustments to the Foreign 
Corrupt Practices Act, including coverage of individuals as well as 
businesses, and officials of international organizations as well as 
other foreign officials. The bill expands the scope of proscribed 
activities to include payments to secure ``any improper advantage.'' It 
also expands the jurisdiction of the law to cover the acts of U.S. 
citizens taking place wholly outside the United States.
  While the amendments to U.S. law required by the convention are 
relatively modest, the changes required of other signatories will mean, 
in many cases, a radical departure from past practices. Such a change 
in attitudes towards corruption will be of enormous benefit to American 
firms seeking to do business abroad.
  With the introduction of the International Anti-Bribery and Fair 
Competition Act, we have the opportunity to redress an imbalance and 
level the playing field for U.S. companies, giving them the chance to 
compete in a fair and corruption-free environment. These refinements 
are necessary to emphasize and reinforce America's view that bribery is 
not only morally reprehensible but that it ultimately creates a 
destabilized international trading climate.
  If the U.S. is to continue to demonstrate its firm commitment to fair 
trading opportunities, we need to take the lead and act as a model. 
Enactment of this legislation will represent and reflect America's 
determination to foster economic development and trade liberalization, 
as well as the promotion of democracy and democratic institutions.

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