Code of Ethics

Code of Ethics

The Puerto Rico Manufacturers Association is a private, voluntary, and non-profit organization established in 1928, with the objective of uniting Puerto Rican manufacturers into an effective organization promoting members´ interests and the economic development of Puerto Rico. The Association, in compliance with Resolution Num. 4 of 2000, titled Initiatives Against Governmental Corruption and Support of Zero Tolerance to Corruption (Iniciativas en contra de la corrupción gubernamental y apoyo a cero tolerancia a la corrupción), that was approved at the General Assembly on August 26, 2000, publishes this Code of Ethics for the benefit of all our members and to foster Puerto Rico’s climate for financial, social and environmentally sustained development.

VISION

We are leaders; we stimulate the economic/social well-being through industrial and entrepreneurial competitiveness integrated to global activity.

MISSION

Strengthen the industrial / entrepreneurial culture to advance the competitiveness of our members.

OBJECTIVE

Maximize the competitiveness of member companies to maintain profitability and the continuity of business.

We, the Manufacturers- Businessmen of Puerto Rico, are firmly committed to Puerto Rico’s economic, social, and environmentally sustained development. Therefore we pledge to manufacture, produce, and market high quality products, goods, and services at a competitive price and in accordance with the laws and regulations applicable to the Commonwealth of Puerto Rico. We recognize that our capacity to fulfill the necessities of our clients and our community depends on maintaining a prestigious and professional reputation and though the goodwill we get from our society. We also recognize that our strength, competitiveness, and our place inside the market and the international community depend on the prestige, reputation, trust, and excellence of the citizens of our community. Finally, we recognize the importance of being an example for our peers, fellow citizens, and for other societies with whom we interact as suppliers, clients, and competitors through just and reasonable negotiations, that create agreements that protect the legal rights of all parties, within a wholesome competition policy. These high standards for business behavior have the ulterior motive of promoting honesty, integrity, equality, and the compliance with the law in contractual and social agreements; everything in which we firmly believe. Also, it promotes the end of favoritism, illegality, in the form of illegal and unjust ways of doing business and relating commercially and professionally. Specifically, we promote a policy of no participation and no tolerance of governmental corruption, which goes against the highest of standards of ethical business behavior.

We believe in and support the following principles:

INTEGRITY

- We are governed by honesty, trust, and equity principles, as much as by the laws, rules, and regulations applicable in Puerto Rico; avoiding schemes, strategies, or shady deals that take advantage of the consumer’s ignorance, ingeniousness, or lack of information about our products, goods, or services.

DIGNITY AND RESPECT

- We promote respect for our peers, including our clients, suppliers, competitors, consumers, or fellow citizens; supporting the dignified, equitable, and considerate treatment of others, apart from their financial, social, or cultural characteristics and conditions.

SUSTAINABLE DEVELOPMENT

- We promote our society’s economic development along with the protection, conservation, and security of the environment; equally as much, we promote the public health of our fellow citizens.

COMMITMENT

- We commit ourselves to support, endorse, and promote these principles and standards of business behavior, while promoting the financial, social, and cultural development of Puerto Rican communities. Hence, this will help in achieving better quality of life.

RELIABILITY

- We commit ourselves to promoting healthy competition by following a fair price policy, fair competition, and abiding by our contractual agreements.

HONESTY

- We promote truth as the basis for every negotiation; we assert the veracity of the information we share; we keep the information we gather confidential; we keep our word; we are fair negotiating; we vigorously reject any action, omission, or misuse of privileged information that might result in any harm, abuse, or violation of the rights of our clients, suppliers, or competitors.

EQUALITY

- We promote equality of rights and responsibilities for every human being, regardless of their gender, nationality, race, social or financial status, physical or mental state, political or religious beliefs; and we vigorously disapprove prejudice or discrimination in our businesses and society.