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PFIZER
(We are going to launch Pfizer into the Australian Market )
Pfizer, a number one pharmaceutical American company with its research head quarters in
Groton and Connecticut was found in 1849. It mainly produces antibiotics, anti-inflammatory
drugs, antifungal drugs,Viagra, neuropathic pain relievers and lipitor as its main products.
Pfizer's shares were made a component of the Dow Jones Industrial Average on April 8,
2004.
Pfizer pleaded guilty in 2009 to the largest health care fraud in U.S. history and received the
largest criminal penalty ever levied for illegal marketing of four of its drugs. On January 26,
2009, Pfizer agreed to buy pharmaceutical giant Wyeth for US$68 billion, a deal financed
with cash, shares and loans. The deal was completed on October 15, 2009.
Revenue us$ 67.809 billion,operating income us$9.422 billion ,Net income us$8.257
billion,Total assets us$195.014billion,Total equity us$88.265 billion,employees 110,600.
SWOT ANALYSIS
Strengths
High budget pharmaceutical industries having the revenue of $50 billion.
Its number one pharmaceutical from sales point of view and its marketing infrastructure is
well established throughout the world.
Pfizer has 7.5% of ranking corporation market share.
Pfizer has a global working network with 95,000 workers around the globe, in all the
continents.
The company profits has gradually been improved from $48.2 billion in 2008 to $50 billion
in 2009 and then jumping directly to 67.8 billion, which means that its sale has increased
from 16.02 to 22.89 %, which is the big achievement in rising revenues.
Their research and development sector is highly established and in good strength, and that is
its primary business strategy.
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Thei therapeuti coverage i very large and the innovative researchers are broadening it
further.
Their reputation has been established for years on number of products.
It has wide range of area being worked, thatincludes Human health, animal health,
customer health and corporate groups.
Involved in licensing agreements with different companies for collaborative research work.
Their main strength is R& D, sale and marketing of Lipiter, Viagra and celebrex.
Along with the increased production, Pfi ers marketing policy includes their products on
theprescription writings. This taskis done by directly targeting the customers, approaching
physicians and targeting drugs management organi ations directly.
Weaknesses
In latter stages of production they often discontinue the activity, increasing its demand.
Not specifically working in the area of primary concern in the drug markets including CV
and CNS.
Its co marketing with other companies and merging with other pharmaceuticals can halter
its global popularity.
Opportunities
Bought King pharmaceutical for $3.6 billion which would open up more manufacture and
sales adding to the capital ofthe company (Carrie, 2009).
Pfi eris reconstructing its strategically approach by cutting the manufacture cost.
High profits, revenues and funds are available to upliftthe companys progress.
Expansion ofthe biologic pharmacy market. Marketing agreements with the leading companies.
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Threats
Illegal marketing of Pfi ers drugs makes it potent notto be reliable, and forthatthey had to
pay the biggest ever penalty in the history of U.S.
Pfi eris losing its patentindividuality by focusing on one product.
Large manufacture and low research for new inductions in the market could decline
the profitability.
Same products are available at cheaper rates by other brands, like Viagra.
Outstanding competition of regional markets along with emerging markets of India
and China.
Negatively publici ed by being sued by their customers.
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Economy of Newzeland:
New Zealand has a market economy which is greatly dependent on international trade,
mainly with Australia, the European Union, the United States, China, Japan and India. It has
only small manufacturing and high-tech sectors, being strongly focused on tourism and
primary industry like agriculture. Economic free-market reforms of the last decades have
removed many barriers to foreign investment, and the World bankin 2005 praised New
Zealand as being the most business-friendly country in the world, before Singapore.
Over the past 20 years the government has transformed New Zealand from an agrarian
economy dependent on concessionary British market access to a more industriali ed, free
market economy that can compete globally. This dynamic growth has boosted realincomes -
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but left behind some at the bottom of the ladder - and broadened and deepened the
technological capabilities of the industrial sector. Per capita income rose for ten consecutive
years until 2007 in purchasing power parity terms, but fellin 2008-09. Debt-driven consumer
spending drove robust growth in the first half ofthe decade, helping fuel a large balance of
payments deficitthat posed a challenge for economic managers. Inflationary pressures caused
the central bank to raise its key rate steadily from January 2004 until it was among the
highest in the OECD in 2007-08; international capital inflows attracted to the high rates
further strengthened the currency and housing market, however, aggravating the current
account deficit. The economy fellinto recession before the start ofthe global financial crisis
and contracted for five consecutive quarters in 2008-09. In line with global peers, the central
bank cut interest rates aggressively and the government developed fiscal stimulus measures.
The economy posted a 1.7% decline in 2009, but pulled out of recession late in the year, and
achieved 2.1% growth in 2010. Nevertheless, key trade sectors remain vulnerable to weak
external demand. The government plans to raise productivity growth and develop
infrastructure, while reining in government spending.
Economy of Australia:
The economy of Australia is a developed modern market economy with a GDP of
approximately US$1.8 trillion. In 2011, it was the 13th largest national economy by nominal
GDP and the 17th largest measured by PPP adjusted GDP, representing about 1.7% of
the World economy. Australia was also ranked the 19th largestimporter and 19th
largest exporter.
The Australian economy is dominated by its service sector representing 68% of Australian
GDP. The agricultural and mining sectors (10% of GDP combined) account for 57% of the
nation's exports. The Australian economy is dependent on imported crude oil and petroleum
products,the economys petroleum import dependency is around 80% - crude oil + petroleum
products.
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Australia's abundant and diverse natural resources attract high levels of foreign investment
and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and
renewable energy sources. A series of majorinvestments, such as the US$40 billion Gorgon
Liquid Natural Gas project, will significantly expand the resources sector. Australia also has
a large services sector and is a significant exporter of natural resources, energy, and food.
Key tenets of Australia's trade policy include support for open trade and the successful
culmination ofthe Doha Round of multilateraltrade negotiations, particularly for agriculture
and services. The Australian economy grew for 17 consecutive years before the global
financial crisis. Subsequently, the Rudd government introduced a fiscal stimulus package
worth over US$50 billion to offset the effect of the slowing world economy, while the
Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued
demand for commodities, especially from China - helped the Australian economy rebound
afterjust one quarter of negative growth. The economy grew by 1.2% during 2009 - the best
performance in the OECD - and by 3.3% in 2010. Unemployment, originally expected to
reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.1% in 2010. As a result of an
improved economy, the budget deficit is expected to peak below 4.2% of GDP and the
government could return to budget surpluses as early as 2015. Australia was one of the first
advanced economies to raise interest rates, with seven rate hikes between October 2009 and
November 2010. The GILLARD government is focused on raising Australia's economic
productivity to ensure the sustainability of growth, and continues to manage the symbiotic,
but sometimes tense, economic relationship with China. Australia is engaged in the Trans-
Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan,
and Korea.
Trading:
Australia and New Zealand share a broad, deep and successful economic and trading
relationshi p. Each country represents an important market for the other, with Australia
featuring as New Zealands largest trading partner, taking over 23% of all New Zealand
exports. In comparison, New Zealand is Australias 7th largest overalltrading partner, butits
largest market for manufactured products and 6th largest export destination.
The relationship is supported by the worlds most comprehensive, effective and mutually
compatible free trade agreement, which is constantly updated and modernised. There is
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substantial political ambition to further liberalise the relationshi p forthe benefit of both
countries.
The foundations for the current extensive trading relationshi p are contained within the
Australia New ZealandC
loserEc
onomic
Relations Trade Agreement (CE
R). Bothcountries have worked hard to ensure thatthe trans-Tasman trading structure is kept modern
and liberal, with many successive expansions to the original CER Agreement, and more
recently through the ambitious drive toward a trans-Tasman Single Economic Market
(SEM).
Unlike most modern Free Trade Agreements, CER does not currently include provisions
regulating foreign direct investment between the two countries. The Governments of
Australia and New Zealand agreed to negotiate an Investment Protocol to CER, aimed at
promoting further cross-Tasman investment. In their meeting of August 2009, Prime
Ministers said that good progress was being made on negotiations of this Protocol, and
announced the respective screening thresholds for foreign direct investment from each
country into the other would be AUD$953 million for New Zealand investments in Australia
and $NZD477 million for Australian investment in New Zealand. Negotiation of an
Investment Protocolis continuing.
New Zealand and Australia share ajoint system of food standards, which is served by Food
Standards Australia New Zealand (FSANZ), a bi-national agency for the development of
food standards. The joint system was instituted by The Agreement between the
Government of New Zealand and the Government of Australia Establishing a System
for the Development of Joint Food Standards (1995) , commonly known as The Food
Treaty, which is one of a suite of agreements that sit within CER. Thejoint system has been
successfulin, amongst otherthings, aligning food standards, reducing unnecessary barriers to
trade and providing both countries increased influence in the establishment of international
food standards.
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Rules of Origin are the criteria used to define where a product was made. They are an
essential part ofCER. They determine whether a product qualifies fortariff-free entry when
being traded between New Zealand and Australia.
The currentROO were finalised in 2006 and entered into force on 1 January 2007. They arebased upon satisfying a change in tariff classification, orCTC, ratherthan the previous 50
percent regional value content threshold.
The new, more liberal, CTC approach means that forthe majority oftarifflines, an exporter
need simply satisfy the condition thatthere has been a change in tariff classification between
any imported inputs from third countries and the completed good that is being exported to
Australia/New Zealand. This shifts the focus from the origin of inputs, and gives
manufacturers a greater choice of materials. This will help increase efficiency and
competitiveness for Australian and New Zealand businesses. The rules also significantly
reduce the need to keep financial cost records to support rules of origin claims. Under the
agreement exporters will have the option of using existing rules until 2012.
Reasons to choose this region:
The main reason to choose this region is the rank of ease of doing business for Australia is 10
and for Newzeland is 3. And rank for start up the company is 1 for Newzeland and 2 is
Australia. This shows that we can easily startup the company or expand the business in those
regions.
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Economic facts :
AUSTRALIA.
Australia is a stable, culturally diverse and democratic society with a skilled workforce and a
strong, competitive economy. With a population of more than 21 million, Australia is the
only nation to govern an entire continent. Itis the earths biggestisland and the sixth-largest
country in the world in land area.
Recent
economic
indicators:
2006 2007 2008 2009 2010(a) 2011(b)
GDP
(US$bn)
(current
prices):
785.8 954.6 1,061.0 986.6 1,236.0 1,448.2
GDP PPP
(US$bn)
(c):
737.1 793.6 831.9 850.6 882.4 918.5
GDP per
capita
(US$):
37,645 44,893 48,823 44,509 55,160 64,351
GDP per
capita PPP
(US$) (c):
35,310 37,321 38,282 38,751 39,699 40,816
Real GDP
growth (%
changeyoy):
2.5 4.7 2.4 1.4 2.6 3.0
Current
account
balance
(US$m):
-41,503
-59,214 -47,442 -42,096 -31,868 -5,529
Current
accountbalance (%
GDP):
-5.3 -6.2 -4.5 -4.3 -2.6 -0.4
Goods &
services
exports (%
GDP):
20.0 19.1 22.3 20.0 21.1 21.5
Inflation
(% change
yoy):
3.3 3.0 3.7 2.1 2.7 3.0
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Looking atthe table we could see that austalias gdp is growing at a steady rate.
Festivals.
Australia hosts a number of events and festivals, especially in the summertime. Below is a listofthe most popular events in each state and territory.The Perth International Arts Festival: Itis the oldest annualinternational multi-artsfestivalin the southern hemisphere and is Western Australia's premier cultural event
New South Wales: Sydney Festivalthatis celebrated in January: Itis the largest Australian
celebration of arts, culture and entertainmentin Australia's largest city
Gay and Lesbian Mardi Gras: Itis celebrated in February. Each year, Sydney is home tothe largest gay and lesbian gathering in the world. The month-long festivities conclude with amassive parade and all-night party.
Melbourne Cup: First Tuesday of November: The country comes to a standstill each yearas 24 horses run Australia's most famous race. Restaurants and pubs offer extravagant menusand people take off workto bet and grab a beer.
Australia Capital Territory (ACT) Floriade; mid-Septemberto mid-October: This spring
festival celebrates the Canberra's blooming bulbs and annuals. More than a million are in fullglory during this time. Main festivities are held atCommonwealth Park.
The Revelation Independent Film Festival : The Revelation Independent Film Festival(RIFF) has always maintained a high focus on documentary. The festival's history has seen
the screening of a wide array of contemporary and archival documentaries including Oscarnominated pieces, progressive works from the international scene and work from theinternational underground.
National Folk Festival: Held overthe Easter weekend in Canberra every year, the NationalFolk Festival draws together people from all around Australia and the world.
Political and legal system
Australia's system of government
Australias system of governmentis founded in the liberal democratic tradition. Based on the
values of religious tolerance, freedom of speech and association, and the rule oflaw,
Australias institutions and practices of government reflect British and North American
models. Atthe same time, they are uniquely Australian.
Responsible government
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One ofthe oldest continuous democracies in the world, the Commonwealth of Australia was
created in 1901 when the former British coloniesnow the six statesagreed to federate.
The democratic practices and principles that shaped the pre-federation colonial parliaments
(such as one man, one vote and womens suffrage) were adopted by Australias first federal
government.Australias governmentis based on a popularly elected parliament with two chambers: the
House ofRepresentatives and the Senate. Ministers appointed from these chambers conduct
executive government, and policy decisions are made in Cabinet meetings. Apart from the
announcement of decisions, Cabinet discussions are not disclosed. Ministers are bound by the
principle ofCabinet solidarity, which closely mirrors the British model ofCabinet
government responsible to parliament.
A written constitution
Like the United States and unlike Britain, Australia has a written constitution. The AustralianConstitution defines the responsibilities ofthe federal government, which include foreign
relations, trade, defence and immigration. Governments of states and territories are
responsible for all matters not assigned to the Commonwealth, and they too adhere to the
principles of responsible government. In the states, the Queen is represented by a Governor
for each state.
The High Court of Australia arbitrates on disputes between the Commonwealth and the
states. Many ofthe courts decisions have expanded the constitutional powers and
responsibilities ofthe federal government.
The double majority provision makes alterations to the Constitution difficult. Since federation
in 1901, only eight out of 44 proposals to amend the Constitution have been approved. Voters
are generally reluctantto support whatthey perceive as increases in the power ofthe federal
government. States and territories may also hold referendums.
Parliamentary sovereignty
The Australian Constitution sets outthe powers of governmentin three separate chapters
the legislature, the executive and thejudiciarybutinsists that members ofthe legislature
must also be members ofthe executive. In practice, parliament delegates wide regulatory
powers to the executive.
Governmentis formed in the House ofRepresentatives by the party able to command a
majority in that chamber.
Anything said in parliament can be reported fairly and accurately without fear of a suit for
defamation. The rough-and-tumble of parliamentary Question Time and debates is broadcast
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and widely reported. This has helped to establish Australias reputation for robust public
debate, and serves as an informal check on executive power.
Frequent elections
A national general election must be held within three years ofthe first meeting of a new
federal parliament. The average life of parliaments is abouttwo-and-a-half years. In practice,
general elections are held when the Governor-General agrees to a request from the Prime
Minister, who selects the date ofthe election.
The governing party has changed about every five years on average since federation in 1901,
butlength of hold on government has varied greatly. The Liberal Party led a coalition with
the longest hold on government23 yearsfrom 1949 to 1972. Priorto World War II,
several governments lasted less than a year, but since 1945 there have been only seven
changes of government.
Voting
For all citizens overthe age of 18 itis compulsory to vote in the election of both federal and
state governments, and failure to do so may resultin a fine or prosecution.
Parties
Australia has four main political parties. The Australian Labor Party (ALP) is a social
democratic party founded by the Australian labour movement. The ALP has governed since
late 2007. The Liberal Party is a party ofthe centre right. The National Party of Australia,
formerly the Country Party, is a conservative party representing ruralinterests. The
Australian Greens is a left-wing and environmentalist party.
Australias major political parties have structured ways to involve their members in
developing party policy on issues. Elected politicians rarely vote againsttheir parties in
parliament.
Although Australian commentators observe that elections have become more presidential in
the sense that some American campaign methods are used, the basic structure ofthe
Australian system tends to emphasise policy stances ratherthan the character ofindividual
politicians.
As in other democracies, the cost of election campaigns and the source of funds for political
activity are issues in Australia. Since 1984, a system of public funding (administered by the
Australian ElectoralCommission) and disclosure for election campaigns has been in place.
Parties must receive atleast 4 per cent ofthe valid vote in the elections they contestto receive
this public funding.
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Parties must disclose campaign expenditures and sources of donations above a specified
threshold. Individual candidates must also disclose sources of donations above a certain
threshold. Parties and individuals contesting non-consecutive elections must disclose gifts
and donations received between the campaigns.
Relations between levels of government
The Council of Australian Governments (COAG) is a forum to initiate, develop and
implement national policy reforms requiring cooperative action between the three levels of
government: national, state orterritory, and local. Its objectives include dealing with major
issues by cooperating on structural reform of government and on reforms to achieve an
integrated, efficient national economy and a single national market.
COAG comprises the prime minister, state premiers, chief ministers ofthe territories, and the
president ofthe Australian Local Government Association.
In addition, ministerial councils (comprising national, state and territory ministers, and,
where relevant, representatives oflocal government and ofthe governments of New Zealand
and Papua New Guinea) meet regularly to develop and implementinter-governmental action
in specific policy areas.
Key facts
y The Commonwealth of Australia was created in 1901 when the former British coloniesnow
Australias six statesagreed to federate.
y Although Australia is a fully independent parliamentary democracy, Queen Elizabeth II of
the United Kingdom is also formally the Queen of Australia.
All citizens overthe age of 18 must vote in both federal and state government election.
Comparison of New Zealand and Australia
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ANALYSIS OF SALIENT COSTS & DIFFERENCES BETWEEN NEW ZEALAND AND AUSTRALIA
VIA CAGE MODEL
Cultural:
Language: In New Zealand, men and women pronounce their diagnostic vowels in the
same fashion. On the other hand, the male Australian accentis significantly different
from the female accent. Another difference is that Newzealanders have difficulty in
pronouncing i sound properly.
Environment: New Zealand receives high rainfall, has huge rivers fed by meltingglaciers, and has nutrient rich soils. The country is also famous for skiing, fishing,
farming, bush walking or mountaineering while Australia has deserts, droughts, and
leached soils.
New Zealand is more racially conscious than Australia.
Maori culture is far more prominentin New Zealand society than Aboriginal cultures
are in Australian society.
Administrative:
The law of Australia consists ofthe Australian common law (which is based on
the English common law), federallaws enacted by the Parliament of Australia, and
laws enacted by the Parliaments ofthe Australian states and territories. The most
importantlaw of Australia is the Constitution of Australia, which describes Australia's
system of constitutional monarchy, and forms the basis forthe government of
Australia.
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The primary sources of New Zealand law are statutes enacted by the New Zealand
Parliament and decisions ofthe New Zealand Courts. At a more fundamentallevel,
the law of New Zealand is based on three related principles: parliamentary
sovereignty; the rule oflaw; and the separation of powers. As a former British colony,
the New Zealand legal system is heavily based on the English legal system, and
remains similarin many respects. There are also important differences, which reflectthe unique legal culture that has developed in New Zealand.
The Australian Government controls the acquisition of Australian properties and
businesses by foreign investors through the Foreign InvestmentReview Board
(FIRB). If foreign interests own or control 15% or more of an Australian company, it
may be treated as a foreign company by the FIRB. In addition to this, Australia's
various state governments have controls and rules in relation to foreign investment.
Foreign investors which do not comply with Australian Federal and State Government
rules may be subjectto penalties such as
o cancellation of contracts and/or forced sale of Australian property;o 2 years imprisonment or a fine of $50,000 (foreign persons);o a fine of AU$250,000.00 (foreign companies).
Following is a summary ofthe rules most commonly encountered:
o Existing residential properties may not be purchased by a foreign person unless aproposal for substantial redevelopment orimprovement ofthe property is undertaken.FIRB approvalis required.
o New residential properties which have never been sold by the builder and havenever been lived in may be sold to foreign persons if certain conditions are met.
Builders and developers may only sell half ofthe dwellings they constructto foreignpeople. FIRB approvalis required.
o Off-the-Plan units may be sold to a foreign person where the developer has pre-approvalto do so (up to 50% of such a development may be sold to foreign persons).
Normally the developer gains written approval from the FIRB in advance.o Businesses/Commercial property valued atless than AUD50 million may normally
be sold to foreign persons without approval (much largerinvestments are acceptablewhere USA investors are concerned). Businesses orCommercial property valued inexcess ofthe approved amount requires FIRB approval. However, special rules applyin many industries including banking, natural resources, media, aviation,telecommunications and others. Seeklegal advice before signing a contract.
o Vacant land may be purchased by a foreign investor who undertakes to commence
construction of a building on the land within twelve months of acquisition. FIRBapprovalis required.o Rural landis subjectto FIRB scrutiny and approval. There is a polciy document
devoted entirely the ruralland rules.
y The rules regarding FDI in New Zealand are as follows:
o Coverage - the definition ofthe strategic assets for which screening is required has
been amended slightly, to increase the business assetthreshold, but also to expand
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strategic assets to include special properties such as all foreshore and seabed land and
sites subjectto a heritage order.
o Criteria for screening - when considering an application for foreign investment,
investors will now be required to submit and investment case thatincludes a land
management plan. (A land management plan will need to cover active management of
the land to meet natural and historic heritage objectives and public access obligations,where relevant.) Also foreign investor's investmentintentions, residency intentions
and the proposed economic development benefits oftheirinvestments will be subject
to greater scrutiny priorto consent being given. Finally, the New Zealand
Government will have a right of first refusal for any foreshore and seabed land that a
third party intends to sellto a foreign investor.
o Monitoring - investors will be required to confirm their compliance with the
conditions of consent, periodically, afterthe consentis given.
o Enforcement - New Zealand regulators will have the powerto impose administrative
penalties if foreign investors failto report regularly on how they are complying with
the terms oftheir consent. New Zealand courts will also be given the powerto fine
foreign investors that do not comply with conditions of consent.
Geographic:
New Zealand encompasses two main islands and a number of smallerislands while,
Australia encompasses a wide variety of biogeographic regions being the world's
smallest continent butthe sixth-largest country in the world.
The climate is mostly cooltemperate to warm temperate in New Zealand and the
mean temperatures range from 8 C (46 F) in the South Island to 16 C (61 F) in the
North Island. On the other hand, most of western Australia is desert.
The common natural hazards in Australia include: cyclones along the northern coasts,
severe thunderstorms, droughts and occasional floods & frequent bushfires where as
in New Zealand, natural hazards include: earthquakes, tsunamis, floods and volcanic
activity in central North Island Volcanic Plateau.
Neighbouring countries of New Zealand include Australia to the northwest
and Tonga and Fijito the north and the neighbouring countries of Australia are
Indonesia, East Timor and Papua New Guinea to the north, the Solomon
Islands, Vanuatu and the French dependency of New Caledonia to the east, and New
Zealand to the southeast.
Economic:
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Country Risk Assessment:
1. Political:
The Corruption and Crime Commission (CCC) is a leading Australian anti-corruption body.It works to improve the integrity ofthe Western Australian public sector and helps public
sector agencies minimise and manage misconduct.If an Australian citizen, you perform an act
of bribery offshore, you can be fined $1 million,jailed for 10 years and your company can be
fined $10 million. It has been observed in the recent pastthat Australia is climbing down the
international corruption ladder.
New Zealand predominantly suffers from corruption. This can be proven from the
Following Statistics:
Religions in New Zealand include Anglian, Christian,Ratanaand Ringatu while religions in
Australia includes Christianity, Hinduism and Islam.
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