On Thursday November 24, the Organization of Latin American and Caribbean Supreme Audit Institutions (OLACEFS) and the Inter-American Government Procurement Network(RICG) signed a Memorandum of Understanding with the aim of contributing to the institutional strengthening of the countries of the region in matters of common interest.

The agreement, signed by the Comptroller General and Executive Secretary of OLACEFS, Jorge Bermúdez, and President of RICG and Director of the Public Procurement Bureau of Chile Trinidad Inostroza, envisages joint work on planning, developing and implementing different activities.

Activities to be undertaken include sharing best practices and lessons learned on transparency, probity, accountability and supporting good governance; strengthening audit procedures and external control for public procurement; improving public procurement processes, institutional capacities and public servants; and exchanging information relevant to the objectives stated in the agreement.

Both OLACEFS and RICGundertook to promote and keep open lines of communication between the two organizations, and develop proposals and initiatives to facilitate such cooperation.

The institutions will also gather information and assess how to implement cooperation in order to deliver timely and consistent information to their respective governing bodies.

After signing the Memorandum of Understanding, the Executive Secretary of OLACEFS, Jorge Bermúdez, said that the document included aspects that would give rise to activities to combat corruption. He added that public procurement can be a focal point for activities far removed from good practice, and that this type of initiative provides new tools to combat the scourge.

Meanwhile the President of RICG, Trinidad Inostroza, mentioned that in October this year Chile was elected to chair RICG, and as such would be able to make a great contribution to Latin American and Caribbean institutions through the agreement.

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MEMORANDUM OF UNDERSTANDING

GALLERY