Nordic Chambers of Commerce pledge to Support Thai Anti-Corruption Initiative

General Press Releases Thursday October 11, 2018 14:53
Bangkok--11 Oct--Thai Institute of Directors

Four Nordic Chambers of Commerce in Thailand comprising Danish-Thai Chamber of Commerce, Thai-Norwegian Chamber of Commerce, Thai-Swedish Chamber of Commerce, and Thai-Finnish Chamber of Commerce collectively pledged to support their members to sign up with Thailand's Private Sector Collective Action Coalition against Corruption (CAC).

The four Nordic Chambers of Commerce have jointly signed a memorandum of understanding with the CAC at the sideline of the CAC's 9th annual National Conference "Disrupting Corruption" at Dusit Thani Hotel in Bangkok.

"The Nordic chambers can share knowledge from our countries and we can give support, but only Thai people can make anti-corruption a part of their culture. It was therefore important for us that CAC is a Thai organization and run by Thai people who want to do what is best for their country," said Aina Eidsvik, President of Thai-Norwegian Chamber of Commerce.

Such move by the group of Chambers clearly demonstrated how foreign businesses operating in Thailand embrace transparency and willing to promote clean business practices.

"The Danish-Thai Chamber of Commerce fully supports the CAC initiative to change Thailand corruption situation and strongly believes in free market with fair competition. It will take generations to change the mindset but it has to start somewhere," said Dr. Supareak Charlie Chomchan, President of Danish-Thai Chamber of Commerce.

Private companies join the CAC voluntarily and a total of 921 private firms have signed up, 332 of which have been certified for putting in place anti-corruption policies and high compliance standards in accordance with the CAC criteria. Signatory companies are required to get CAC certification within 18 months.

The CAC only certifies that companies have put in place anti-corruption policy and compliance standard not behaviors of corporate personals.

Founded in 2010 by eight prominent business organizations and run by the Thai Institute of Directors Association (IOD), the CAC aims primarily to bring effective anti-corruption policies and mechanisms into implementation by business entities. It focuses specifically on the private sector and works closely with the National Anti-Corruption Commission and the Anti-Corruption Organization of Thailand.

Background

The CAC was co-founded by eight leading organizations in the private sector including the Thai Chamber of Commerce, the Joint Foreign Chambers of Commerce in Thailand, the Thai Listed Companies Association, the Federation of Thai Industries, the Federation of Thai Capital Market Organizations, the Thai Bankers' Association, the Tourism Council of Thailand, and the Thai Institute of Directors Association (IOD), which serves as the secretariat and takes a leading role in driving the program. The CAC's operations are sponsored mainly by U.S-based Center for International Private Enterprise (CIPE).


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