OECD Review of Thailand's Legal and Policy Framework for Fighting Foreign Bribery

Investment Rating - The report does not explicitly provide an investment rating for the industry under review Core Insights - The OECD Anti-Bribery Convention establishes legally binding standards to criminalize foreign bribery in international business transactions, requiring countries to hold companies liable and impose effective sanctions [13][29] - Thailand aims to align its anti-corruption framework with OECD standards as part of its Country Programme, which includes enhancing participation in OECD committees [14][20] - The assessment identifies areas for improvement in Thailand's legal and policy frameworks to combat transnational bribery [16][27] Summary by Sections Introduction - The report emphasizes the importance of combating foreign bribery to maintain integrity in international markets and outlines Thailand's commitment to aligning its legal framework with international standards [19][20] Economic Profile and Foreign Bribery Risks - Thailand's GDP in 2023 was estimated at USD 495.3 billion, making it the second largest economy in Southeast Asia [38] - The country has significant trade relationships with partners that present corruption risks, such as Vietnam and China [48] - The report highlights that Thai companies are exposed to foreign bribery risks, particularly in sectors like electronics and chemicals [49] Foreign Bribery Offence - Thailand's legal framework criminalizes the bribery of foreign public officials, but there have been no prosecutions under the relevant laws, indicating a lack of jurisprudence [59] - The report assesses the elements of the foreign bribery offence against OECD standards, noting that while the law covers various aspects, there are gaps in its application, particularly regarding intermediaries [71][74] Recommendations - The report provides recommendations for strengthening Thailand's legal and enforcement framework to better align with OECD standards and enhance its capacity to combat foreign bribery [27][49]