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Last Updated: Thursday, 16 March 2006, 20:50 GMT
Agency to boost anti-corruption
Containers being unloaded at a port
The ECGD offers UK exports insurance against non-payment
A government agency that supports UK exporters has outlined the ways in which it is strengthening its anti-bribery and corruption guidelines.

The Export Credits Guarantee Department (ECGD) offers UK exporters insurance against non-payment and other risks.

Under the new rules firms or investors applying for support will have to provide the identities of any agents involved in the awarding of a contract.

The ECGD will also have greater powers to investigate suspected corruption.

At the same time, it will no longer require representations about the actions of groups of companies not involved in the contract for which ECGD support is being provided.

The changes come after two rounds of public consultation.

"The key concern has been to ensure that we reduce the risk of ECGD supporting contracts tainted by corruption, and that we do so in a way that is workable for exporters," said UK Trade Minister Ian Pearson.

"ECGD's revised procedures achieve this aim and will contribute to the government's wider aim to combat bribery and corruption in business."


SEE ALSO:
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20 Feb 06 |  Business
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Global corruption 'on the rise'
09 Dec 05 |  Business
Oil wealth 'can cause corruption'
20 Oct 04 |  Business


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