Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Report on Exporters' Experiences with Bribery and Corruption

Transparency International New Zealand, Inc.
Wellington, New Zealand
29 October 2012
FOR IMMEDIATE RELEASE:

Transparency International New Zealand Releases Report on Exporters' Experiences with Bribery and Corruption.

Transparency International New Zealand today announced the release of "New Zealand Exporters' Experiences with Bribery and Corruption, A Qualitative Survey." This report, commissioned from UMR Research by Transparency International New Zealand (TINZ), gives an insight into some New Zealand exporters' experiences and perceptions of corruption in overseas markets.

This latest research highlights that there is some confusion as to what corruption is, what the law is, and how various companies respond to approaches for bribes and facilitation payments.

Trade Minister the Honourable Tim Groser attended the launch event this afternoon.

TINZ Director Claire Johnstone who commissioned this report notes:
"New Zealand exporters need to ensure that they not engage in practices which leave them open to accusations of being involved in corruption. This will not only damage the reputation of New Zealand, it could also lead to prosecution."

"The old adage of "doing what the cultural practice is" is not a justification to act unethically. All companies should train their staff on what corruption is and have very strong polices and guidelines on how to manage the issue when exporting. TINZ is working with the SFO to design such training to be available online."

In his speech the Minister noted:
"New Zealand is seen as one of the least corrupt countries in the world and New Zealanders as honest and ethical. This reputation can only enhance our export economy so we must all strive to ensure that these perceptions are fact."

The potential benefits to NZ businesses of following non-corrupt business practices in overseas markets, and of operating following the precepts of good governance include:
• Lower cost to doing business;
• Lower cost of capital as a result of higher returns and more manageable risks;
• Easier (e.g. less expensive, more open and quicker) overseas market access;
• Higher return on investment;
• Greater staff loyalty and in turn more commitment by staff to achieve better business performance and outcomes.
• Commenting for the survey Suzanne Snively, ONZM - Executive Chair, TI-NZ says,
"Information suggests that even our largest listed companies are complacent about corruption risks and lack the published principles confirming their business integrity. This is surprising given the benefits to the business bottom line of ethical practice. Our research shows that corrupt practices cost companies as much as 35% of the cost of doing business in Asia.
This is particularly concerning because of how rapidly our trade is shifting to countries with the high levels of corruption in both business and government."

ENDS

The report can be downloaded from the TINZ website New Zealand Reports Page.

Transparency International New Zealand is the local chapter of Transparency International and is an independent registered charity. Information on TI-NZ can be found at www.transparency.org.nz

Transparency International is a global civil society coalition leading the fight against corruption. It compiles a number of measures of different aspects of corruption including the Corruption Perceptions Index, the Global Corruption Barometer, and the Bribe Payers Index. Information on Transparency International can be found at www.transparency.org.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news