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

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news