Panama: Businessmen Oppose Odebrecht

The Chamber of Commerce, Industries and Agriculture has decided to expel the Brazilian construction company from the union, after the payment of bribes was revealed in several countries, including Panama.

Wednesday, January 18, 2017

From a statement issued by the CCIAP:

The Chamber of Commerce, Industries and Agriculture of Panama notified this afternoon Constructora Norberto Odebrecht S.A., of its expulsion as a member of the union, motivated by a confession by that party that provided evidence of massive payment of bribes by the Brazilian company to officials in more than 12 countries, including Panama.

"Acceptance of laws and compliance with ethical and moral principles, are convictions of the Chamber of Commerce, Industries and Agriculture of Panama, on which our organization is built. Any failure to comply with these values, is grounds for expulsion," said Jorge Garcia Icaza, president of the CCIAP.
"Those who make pacts with officials and government contracts, are responsible for knowing and complying with applicable laws and regulations," states the guild's Code of Ethics.

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