Corruption: important countries for textile industry largely "at risk"

By

Matthieu Guinebault

Published
Jun 23, 2015

Verisk’s 2015 ranking of the countries with the highest risk of corruption for foreign companies once again underscores the importance that bribes play in many key countries for textiles and clothing.
 

While Russia rose into the top 12 most at-risk countries, China and India remained respectively in 76th and 71st, exposing most companies to an "extreme risk" of corruption, according to Verisk. The same goes for Brazil, which displayed "high risk" and is ranked 94th. 

Perceived as a new El Dorado for low-cost Asian production, Burma has moved into the top 12, alongside North Korea. Sub-Saharan Africa, which has garnered an increasing amount of attention from the textile industry, includes no less than 45% of countries deemed high-risk by the study. 

Ads

This is reflected by the presence in the top 12 of the Congo, Somalia, the Central African Republic, Sudan, South Sudan and Equatorial Guinea. Besides Russia, North Korea and Burma, the cream of the crop also includes Iraq, Afghanistan and Libya.