Are Thai Firms Ready For OECD Anti-Bribery Convention?

As Thailand considers adopting the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, a preliminary study carried out by Chulalongkorn University’s law faculty indicates many local businesses remain unprepared for its effects, as reported in an article in the Bangkok Post.

Thailand plans to make bribery of foreign public officials a criminal offense as part of its anti-corruption strategy, but non-listed companies and small and medium-sized enterprises, which have lower corporate governance standards than listed companies, are not ready for Thailand to join the OECD convention, according to the report.

We will continue to monitor any further developments on Thailand’s move towards adopting the OECD convention.  For more information on Thailand’s anti-corruption efforts, please see the Anti-Corruption Laws section of our website here.