Sarajevo, 19 September 2005 – The United Nations Development Programme and the Foreign Trade Chamber of Bosnia and Herzegovina launched the Global Compact in this country today.
This initiative pursues two complementary objectives in BiH: first, to incorporate ten principles related to human rights, labour rights, environmental sustainability and anti-corruption into business strategy and operations; and second, to encourage partnerships among key stakeholders for the wider development of Bosnia and Herzegovina.
„This network will have many functions. It will be a platform for learning and dialogue, provide support to address the challenges of market transition, and above all, ensure that conditions in which private enterprise can thrive, and generate much needed wealth, are fully respect of the law and its obligations, for the wider public good“, said Mr. Jens Toyberg-Franzen, UNDP Resident Representative, during the event in Sarajevo.
At the launch, the following companies from Bosnia-Herzegovina joined the Global Compact: Energoinvest, Sarajevo; Upi Banka, Sarajevo; Borac Travnik; Mittal Steel; Grizelj; Baja Company; Elvaco AD; Vegafruit Gračanica; Širbegović; DHL BiH; Tehnogas TRN Banja Luka; Intersistem Bijeljina; Bobar Group; Vispak Visoko; Zenička industrija Mlijeka; Tropic Banja Luka; Pristor; Altro-akcionarsko društvo; Nova Banka; Pivara Tuzla; Vitinka.
„I am sure that this day presents an important moment in Bosnia and Herzegovina‘s path towards universally accepted principles of human rights, ecologically sustainable development and un-discrimination, in the widest sense of these words. Therefore, I invite all companies in Bosnia and Herzegovina to join the Global Compact initiative“, said the Prime Minister of Bosnia and Herzegovina, Mr. Adnan Terzic, in a letter read during the launching ceremony.
There was broad consensus that participation in the Global Compact will help companies from Bosnia-Herzegovina to adapt to EU values and principles. EU-based companies are increasingly emphasizing the tremendous importance of good corporate behavior in order to stay competitive. Mr. Renzo Daviddi, Head of the Economic and Political Section of the EU Delegation in Bosnia and Herzegovina, emphasized that “perhaps the implementation of the Global Compact is then a small step forward towards European Union”.