Yesterday, the Organisation for Economic Co-operation and Development (OECD) Working Group on Bribery in International Business Transactions (Working Group) officially assessed Lithuania as ready to become a member of the OECD and adopted a formal opinion forwarded to the OECD Committee of Ministers. This is the eighteen positive and one of the hardest-to-do favourable conclusion that Lithuania needs to get to become a member of the OECD.
During the assessment, the delegations of Poland, Germany and the United States, individually priced Lithuania by noting the "extraordinary" efforts and progress that Lithuania had made.
Lithuania's comprehensive assessment of OECD accession was the sixth and last assessment of Lithuania in this working group before being admitted to the OECD, this was the results of four years of hard and thorough work.
Lithuania has been actively working on becoming a member of this working group and receiving an invitation to ratify the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions. Our Country became a full member of the working group last year.
Earlier, new Law on the Protection of Whistleblowers and amendments to the Criminal Code, which considerably tightened the penalties for corruptive crimes, were adopted. In 2016, amendments to the Criminal Code and the Code of Criminal Procedure expanded the limits of criminal liability of a legal person for corruptive crimes and the possibility of confiscating the direct or indirect financial advantages derived from bribes, was extended.
Lithuania aims to become a member of the OECD in May, 2018 when OECD Ministerial Council takes place.
Membership of the OECD will give Lithuania an equal role in the development and adoption of international rules in various policy areas that have a direct impact on the development of Lithuania. Membership in the OECD is seen as a good indicator of the stability and credibility of the country's economy as well as an instrument for meeting the challenges of today's environment. Lithuania's membership in the OECD will have a positive impact on attracting investment, reducing international borrowing costs, reducing social and economic exclusion and ensuring sustainable growth.
Lithuania, as a member of the OECD, will be able to use the latest OECD researches and apply the best practices of OECD member countries to improve the quality of public administration. The OECD periodically and in various aspects carries out the economic analysis of each member state and provides specific recommendations that help improve the efficiency of economic governance.
According to the Ministry of Justice information