Singapore, Singapore (BBN) Corruption in business transactions decreases competition, deters investment, and increases the cost of goods and services in the Asia-Pacific region.

Attendees at the 6th Regional Anti-Corruption Conference for Asia-Pacific – which kicked off on Wednesday morning in Singapore – will discuss strategies and mechanisms for addressing the “supply side” of corruption from the perspectives of the public sector, private sector and civil society.

Senior anti-corruption officials and other government representatives from the Asia-Pacific region; leaders of NGOs and other organizations involved in the fight against corruption in the region and worldwide; key stakeholders from the private sector, civil society and the media; and experts from the OECD Working Group on Bribery and the ADB membership are participating, according to a press statement.

The conference is sponsored by the Asian Development Bank (ADB)/ organization for Economic Co-operation and Development (OECD) Anti-Corruption Initiative for Asia and the Pacific; it is hosted by the government of Singapore.

This Conference takes a broad view and will explore mechanisms for reducing corruption that involve cooperation amongst stakeholders – public, private and civil society. In particular, it will focus on the “supply side” of corruption, which often takes the form of bribes paid by the private sector.

The three-day meeting opens with a plenary session to set out the risks of business corruption in the region, and its impact on the business and investment climates.

Speakers will also discuss the shared responsibility of government, the private sector, and civil society to fight corruption in business transactions.

BBN/SI/SS/AD-26November08-10:52 AM (BST)