The International Bar Association (IBA) and the Organisation for Economic Co-operation and Development (OECD) have announced a commitment to strengthen the long standing relationship that exist between the two international organisations.
This agreement was recently made by the parties at the OECD headquarters in Paris, where OECD Secretary-General Angel Gurría and the President of the IBA, Akira Kawamura signed a Memorandum Of Understanding (MOU) to formalise the relationship between both organisations.
Announcing this latest development, Akira said: “We are delighted to extend this important partnership in order to combine and maximise the resources both organisations are devoting to improve economic activity and justice in a number of areas.”
This renewed collaboration is expected to improve legal frameworks, expertise, and development across a number of sectors, much of which the two organisations are already doing. Some of the sectors highlighted in the MOU include employment, energy, environment and natural resources, financial services, migration, trade and investment, and the rule of law and democratic values.
The IBA says it will assist in detailed projects such as training initiatives and drafting guidelines for the G20 High-level Principles on Financial Consumer Protection. It will contribute to the OECD policy-making process, and promote the standard-setting role of the OECD with legal practitioners worldwide. While on the other hand, the OECD will participate in the IBA Human Rights Institute Task Force on Illicit Financial Flows, Poverty and Human Rights, in IBA conferences and other briefings and consultations with the legal profession, and in joint fact-finding missions and reports.
Also speaking on the collaboration, the OECD’s Director of Legal Affairs, Nicola Bonucci, says: ‘OECD and IBA are global voices in an increasingly complex and interdependent world. Today’s signing is the recognition of what each institution can bring to each other: the IBA expertise is welcomed by the OECD while the IBA will raise the awareness of the legal profession on OECD work and standards.’
The IBA and the OECD have had a long standing and successful relationship in the past; a partnership that has seen both organisations combining forces to drive anti-corruption and creating awareness within the legal profession for the eradication of corruption globally; whether in domestic and international transactions.
While the IBA is the world’s leading organisation of international legal practitioners, bar associations and law societies, the OECD provides a forum for governments to work together to promote policies that will improve the economic and social well-being of people around the world.