Saturday, June 23, 2018

Ural businesses sign anti-corruption charter

The five leading business associations in the Sverdlovsk region recently signed an agreement to join the Anti-Corruption Charter of Russian Businesses.

Anthony Filippenkov, the president of the Union of Small and Medium Enterprises of the Sverdlovsk region and a member of the Council of the Governor of Sverdlovsk region, described the meeting as "exhausting," Oblgazeta reports.

The agreement is intended as a code of honor amongst Ural businesses to follow the highest standard of business conduct in accordance with international standards.

Statistically, two thirds of bribes are driven by businesses while one third are conducted by government officials. Excessive administrative barriers, underground economy and counterfeit products are all believed to be fueled by corruption.

A provision of the charter applies to both relationships with the business community and the relationships between businesses and the government, Oblgazeta reports.

All Russian companies and companies operating in Russia are encouraged to join the charter.