Eliminating Corruption (June 2006)
Corruption is a fundamental concern for American businesses, and remains a significant and unfair barrier to trade and economic development in many countries throughout the Asia-Pacific region. It creates a negative investment climate, stifles economic activity, distorts prices and undermines national legal and judicial systems. Corruption harms not only the citizens of the countries where it exists, but also US and other foreign businesses operating in these countries. Corrupt practices contribute to the spread of organized crime and terrorism. Corruption is a major factor in reducing competitiveness in an increasingly globalized economy.
The Asia-Pacific Council of American Chambers of Commerce (APCAC) has strongly encouraged businesses, governments, international organizations and multilateral financial institutions to intensify their efforts to stem official corruption, to eliminate bribery in business transactions, to increase transparency and to promote good governance in general.
What Needs To Be Done
APCAC urges the United States Government to:
APCAC strongly encourages governments in the region to:
In a major speech in Jakarta, Indonesia, on April 11, 2006, World Bank President Paul Wolfowitz said, “We know that when governments don’t work, the development assistance we provide to governments doesn’t work either.”
In the speech, he announced a plan to enhance the Bank’s work on governance and anticorruption on several fronts. Read more …
Asian Development Bank (ADB)
The Asian Development Bank wants to remove the burden that corruption inflicts upon the economies of the region and the development process. One way that ADB does this is by ensuring its institutional integrity. ADB’s Anticorruption Policy requires all ADB-financed activity, including all ADB staff, adhere to the highest financial and ethical standards. Read more …
U.S. Strategy to Internationalize Efforts Against Kleptocracy
“High-level corruption by senior government officials, or kleptocracy, is a grave and corrosive abuse of power and represents the most invidious type of public corruption. It threatens our national interest and violates our values. It impedes our efforts to promote freedom and democracy, end poverty, and combat international crime and terrorism. Kleptocracy is an obstacle to democratic progress, undermines faith in government institutions, and steals prosperity from the people. Promoting transparent, accountable governance is a critical component of our freedom agenda.” —
G8 Leaders’ Statement, St Petersburg, July 16, 2006
“High-level corruption by senior government officials, or kleptocracy, is a grave and corrosive abuse of power and represents the most invidious type of public corruption. We can confront kleptocracy and help create the conditions necessary for people everywhere to enjoy the full benefits of honest, just, and accountable governance.” “Read more …
The American Chamber of Commerce of the Philippines, Inc. is a private, independent and non-profit association incorporated under Philippines laws in July 1920. It is affiliated with the Chamber of Commerce of the U.S.A. (COCUSA) and the Asia-Pacific Council of American Chambers (APCAC).