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

 

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>


BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

TDDA: State-Of-The-Art Drug Testing Laboratory To Open In Auckland

World leading drug testing agencies, The Drug Detection Agency (TDDA) and Omega Laboratories, open New Zealand laboratory More>>

Network: Bigpipe Launches Ultra-Fast Broadband Into Wellington

Bigpipe Launches Ultra-Fast Broadband into Wellington Naked broadband provider Bigpipe has extended its national reach, announcing today, the launch of its unlimited UFB offering into Wellington. The Spark Venture business is giving Wellingtonians the ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news