The current growth in the use of offsets requirements, especially on the “developing” and “emerging ” markets strategically important to businesses, points out the limitations of economic representations of financialised world trade, where trade is supposed to give the market its balance and reason. Instead of the market financialising everything, as was expected, bartering is making a come back. By tying in the economic with extra-economic development related considerations, offsets are also consistent with the principal underlying the development of corporate social responsibility (CSR): contracts cover factors that extend beyond just the goods or services traded. So the real purpose of the contract is found outside the contract. There are more than 100 countries on the world today which are practicing a form of offset together with their government procurement without any common regulation. The purpose of this Community of Practice conducted by ECCO is to propose a draft to UNCITRAL to regulate this dimension of public trade.
Cross Analysis on Compensatory Measures in International Public Procurements Contracts
Community of Practice Reference:
Thematic Working Group/ Community of Practice: