A Landmark Approach in Addressing Business Ethics: The Aerospace and Defence Industry Commits to New Global Principals of Ethical Conduct at International Conference in Berlin

Jan 13, 2010, 09:00 ET from Aerospace Industries Association from ,AeroSpace and Defense Industries Association of Europe

BERLIN, Jan. 13 /PRNewswire-USNewswire/ -- The first International Forum on Business Ethical Conduct for the Aerospace and Defence Industry (IFBEC) took place today in Berlin.  

The Forum brought together major American and European companies from the aerospace and defence sectors, as well as industry representatives from other parts of the world. Representatives from major institutions such as the European Defence Agency, NATO, the OECD, and Ministries of Defence of EU Member States, as well as NGOs such as Transparency International also participated.

The forum strengthened exchange between industrial, institutional and state players within these key sectors, encouraging them to participate in the development of fair competition rules. It demonstrated the commitment of the aerospace and defence industry to business ethics. This forum, now entering its outreach phase will be a landmark approach for all sectors on how global companies that are competitors can create and share best practices in addressing ethical issues.

'European aerospace and defence companies are committed to fostering ethical business conduct in their corporate business practices', said François Gayet, Secretary General of the AeroSpace and Defense Industries Association of Europe (ASD). 'Today's meeting was the perfect setting for a constructive dialogue between our industry and major stakeholders.'

"The members of AIA are absolutely committed to the highest ethical business standards in the aerospace and defense industry," said Marion C. Blakey, President and CEO of the Aerospace Industries Association of America, Inc. "The Forum is fostering a productive dialogue among all stakeholders, as well as an ethics commitment that will span the globe in a few short years."

The International Forum on Business Ethical Conduct for the Aerospace and Defence Industry followed the signing of the Global Principles on Business Ethics by the Aerospace and Defence Industries Association of Europe (ASD) and the Aerospace Industries Association of America (AIA) on October 2 in Helsinki. The Global Principles focused on four main points: zero tolerance on corruption, management of consultants, management of conflicts of interest, respect for confidential information, and will eventually be extended to other areas.

Note to Editors

ASD, AeroSpace and Defence Industries Association of Europe, represents the aeronautics, space, and defence industries in Europe. ASD has 28 member associations in 20 European countries, and represents over 2000 companies with a further 80 000 suppliers, many of which are SMEs. www.asd-europe.org

The European aeronautics, space and defence Industry at a glance:

Employment: around 676 000 in aerospace & defence

Industry Turnover: over 137 billion Euros.

AIA, Aerospace Industries Association represents America’s leading manufacturers and suppliers of civil, military, and business aircraft, helicopters, unmanned aerial systems, space systems, aircraft engines, materiel, and related components, equipment services, and information technology. Founded in 1919, AIA has nearly 300 members, representing over 2 million employees. www.aia-aerospace.org

The U.S. aerospace industry at a glance:

Sales: $214 billion

Trade surplus: $54 billion

SOURCE Aerospace Industries Association; AeroSpace and Defense Industries Association of Europe