Sustainability and Corruption: Fighting Corruption Requires Global Rules

German companies have a strong interest in fair international economic relations and comparable anti-corruption rules worldwide. Corruption does not only have a direct negative economic impact. It also harms the reputation of companies and of industry as a whole.

International dimension is decisive

German companies operate worldwide. Doing business abroad, they increasingly have to compete with companies from emerging economies which suffer much worse problems with corruption according to Transparency International. When German companies bid for internationally tendered contracts – potentially in direct competition with companies from or in such countries – they may find themselves confronted with corruption. This can even go as far as preventing the development of new markets and hampering cooperation with new partners. As a consequence, not only companies involved are harmed, but the respective economy as a whole is negatively impacted.

Joint action preferable

For those reasons, German industry has a strong interest that the same anti-corruption rules apply worldwide – in all destination countries of German exports and for all competitors. Effective anti-corruption requires internationally coordinated action to create a consistent global standard of protection. Creating a level playing field for companies from different countries boosts the chances for economic growth.

 

 

 

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