The Executive Committee of the JEC as well as the members of the JEC Task Force on Corruption invited the Commissioner and the Deputy Commissioners of ICAC (Independent Commission Against Corruption) this morning for an exchange of views on the issue of fighting corruption.

The object of the meeting was to explore the process and modus operandi for the private sector to cooperate with ICAC in the implementation of the national strategy to combat corruption and money laundering.

The two organizations recognized that corruption is a problem which hampers our economic development and reduces the overall competitiveness of the country. Furthermore, both parties shared the view that corruption is such a complex and difficult issue that all stakeholders in the country would need to join forces if we want to launch a successful fight against it.

The JEC has expressed its wish to obtain the support of ICAC to implement its Model Corporate Code of Conduct. Furthermore, the JEC and ICAC have agreed to cooperate in the education campaign against corruption. The two parties have also agreed to work out an action plan to meet these objectives.

Joint Economic Council
6 September 2002