Detailed Information :

Paraguay

Year of Establishment: 2005

Project Phase: Long-term Initiative

Participants: 150 national and multinational businesses, American Chamber of Commerce, and100 additional applicants.

Scope:

• Both national and multinational businesses
• Covers most important private businesses in all sectors

Key Facts:

• The Pacto Etico Comercial (PEC) Paraguay was founded in 2005 and initiated by the US Dept. of Commercies Good Governance Program, US ambassador and the Paraguayan American Chamber of Commerce; Philp Nichols, associate prof. of Legal Studies and Business Ethics at the Wharton School, University of Pennsylvania, acts as advisor to PEC.
• This was the first business ethic program in South America, set up to promote business principles based upon fulfillment of current laws, ethics principles, quality management, honesty and transparency.
• The PEC includes a certification process for members and audits and covers the most important private business representatives of all industry sectors - an innovative attempt to certify ethical behavior.

Key Learning:

• Large member base with national and multinational businesses combined with certification, audits and external enforcement strengthens the initiative.
• Paraguayan business community has a high-level understanding of the situation and the environment.

Mechanisms:

• Certification process for members
• Members commit themselves to obey to the values and rules through codes of conduct
• Moral enforcement due to publicity
• Random audits
• Trainings and workshops

Benefits:

• Branding tool for business climate in Paraguay
• Certification for businesses through external enforcement
• Trainings and workshops for businesses

Links:

Pacto Etico Comercial Website (Spanish Only)

Source:

• PEC Paraguay