| gen. |
public procurement (The purchase of goods and services by the public sector, at all levels of government. Because of state activities in providing defence, law and order, health, education, and other public services, public procurement accounts for a considerable fraction of total national expenditure. In running an efficient economy it is important to ensure that the considerable sums involved are spent efficiently, and that the process of allocating government contracts is free from corruption. In international trade negotiations there is concern that government procurement should not be used as a vehicle for protection, though considerations of national security make governments reluctant to open defence procurement entirely to foreign competition. OE Alexander Demidov); government procurement (Government procurement, or public procurement, is the procurement of goods and services on behalf of a public authority, such as a government agency. With 10 to 20% of GDP, government procurement accounts for a substantial part of the global economy. To prevent fraud, waste, corruption, or local protectionism, the law of most countries regulates government procurement more or less closely. It usually requires the procuring authority to issue public tenders if the value of the procurement exceeds a certain threshold. Government procurement is also the subject of the Agreement on Government Procurement (GPA), a plurilateral international treaty under the auspices of the WTO. WK Alexander Demidov) |
