Foreign companies fight Russian corruption

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Foreign companies operating in Russia will sign a pact to fight bribery and corruption on 21 April 2010, Vedomosti reports. The initiative comes from German companies and the Russian-German Chamber of Foreign Trade. The list of German companies to sign the pact includes 52 enterprises, including Mercedes-Benz, Siemens, Deutsche Bank, Deutsche Bahn, and Axel Springer. The International Business Leader Forum, the American Chamber of Commerce, and the Association of European Businesses will also join the anti-corruption pact.

The pact obliges signatories to reject bribery both directly and indirectly through donations to charities and political parties, or other channels. The foreign investors will sign two documents: an initiative on corporate ethics in Russia and another document on international principles against bribery drawn up by a working group consisting of officials from the World Economic Forum, Transparency International, and the Basel Institute on Governance. Arkady Dvorkovich, advisor to Russian President Dmitry Medvedev, will attend the signing ceremony.

http://www.vedomosti.ru/newspaper/article/2010/04/20/231830

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