Business Ethics for APEC SMEs Initiative
The Business Ethics for APEC SMEs Initiative is the world's largest public-private partnership to strengthen ethical business practices in the innovative pharmaceutical sector relating to small- and medium enterprises.
The Business Ethics for APEC SMEs Initiative (the “Initiative”) launched the biopharmaceutical sector program with the aim of disseminating high-standard ethical business practices and facilitating a level playing field across 21 Asia-Pacific economies spanning four continents. IFPMA serves as Industry Co-Chair of the Initiative’s biopharmaceutical sector program.
In 2011, an Expert Working Group was convened in Mexico City where senior government, academic and industry leaders crafted the APEC Principles for Voluntary Codes of Business Ethics in the Biopharmaceutical Sector commonly referred to as the APEC Mexico City Principles.
The IFPMA Code of Practice served as a central reference source for the Expert Working Group and today the APEC Mexico City Principles remains the only sector guidance for ethical conduct recognized by Economic Leaders and Ministers.
industry association codes from all 21 APEC economies
enterprises using industry association codes
consensus framework agreements
Consensus framework adoption
Since 2012, nearly all biopharmaceutical industry associations across the region’s member economies have adopted a code of conduct in alignment with the APEC Mexico City Principles, extending its practices to more than 10,000 enterprises.
In addition to championing high-standard ethical business practices for industry associations and their member companies, the Initiative has convened hundreds of diverse health stakeholders committed to heightening ethical collaboration together through Consensus Frameworks.
The Initiative’s programming also includes the APEC SME Leaders in Ethics and Integrity Program (LEIP), dedicated to supporting executives of small and medium-sized companies in the sector to serve as champions for business integrity.
It also identifies strategies for governments to encourage ethical business conduct as well as conducts novel research into the economic gains that result for health-related SMEs embracing high-standards of ethics and compliance.
Follow the Initiative’s progress
This groundbreaking initiative is evolving all the time, encompassing exciting strategies and research