Transfer pricing is a matter different from transparency.
Transparency can help better implement transfer pricing rules, because if you have companies doing transactions with a secretive jurisdiction, you may lose track of the transaction and will not have the comparables, and therefore you will not be in a position to implement transfer pricing.
Transfer pricing raises a much broader issue, which is about how to price and whether you can locate the profit in a jurisdiction in which there is no physical or real activity. This is being addressed in the report addressing base erosion and profit shifting that I referred to.