Tough Bribery Laws Mean Thai Businesses Need to Straighten Up and Fly Right, Say BSA Law

Thailand is sometimes known for its unique approach to laws, with Thai law consulting firms often required by foreigners to decode a mishmash system of traditional laws and modern Western principles. End Quote

(1888PressRelease) March 02, 2011 - Bangkok, Thailand - However, increasing globalization is forcing the hand of Thai law makers, with a rigorous new Bribery Act set to be introduced shortly in Britain and increased enforcement measures in place for the US's Foreign and Corrupt Practices Act. Expert Thailand business law firm BSA Law say that cutting corruption is the responsibility of every business, and there will need to be significant changes to Thai law to stamp out tacit acceptance of corruption.

Highly regarded Thai business law firm, BSA Law, say that Thai businesses and officials need to partner up to cut down on corruption if the country's economy and tourism trade is to survive.

The advice comes ahead of the introduction of the UK's tough and legally far-reaching Bribery Act, which will impose significant penalties on companies that have any offices in Britain, even if the majority of their business is done in Thailand. The Bribery Act will come into force in April 2011, and could even prohibit extravagant examples of corporate hospitality.

Additionally, the Thai business law specialists at BSA Law have noted the increased enforcement of the US's Foreign and Corrupt Practices Act, and means that any companies paying out bribes to Thai companies will face heavy sanctions in the US.

Apisakde Kongkangwanchoke of BSA Law, advised businesses that "Even if Thai law has a somewhat ambiguous stance on corruption, the international community has far stricter standards. If we don't act to change both Thai practices and Thai law, the economy and the entire country will eventually lose out".

In the 2010 Transparency International Corruption Index, Thailand scored 3.5 out of 10, where 0 represents the most corrupt regime and 10 the least corrupt. The score makes Thailand the 78th least corrupt country of the 178 for which data were compiled. Mr. Kongkangwanchoke said of the score that "It is not a terrible result in itself. However, given that most of Thailand's tourists, on which our economy relies heavily, come from countries with scores above 7, this indication of the extent of corruption is worrying".

About BSA Law:

For nearly 30 years, Bamrung Suvicha Apisakdi Law Associates (BSA Law) has focused on providing reliable legal advice and services to the Thai and foreign business community in Thailand. BSA Law seeks to provide international standards of legal services while retaining the customs of the Thai business culture.

For more information please contact:

Jim Byrne
Business Advisor, BSA Law.
Email: jim ( @ ) bsalaw dot co dot th

http://www.bsalaw.co.th

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