The Global Compact, a framework for corporate social responsibility initiated by UN Secretary-General Kofi Annan in 1999, has attracted its first Arab participant companies -- 56 Egyptian businesses that signed on in Cairo recently, joining others in 70 countries.
"Today, with its launch in Egypt, the Compact takes its first step into the Arab world," said Annan in a statement conveyed by UN Under-Secretary-General Iqbal Riza to an event hosted by the Federation of Egyptian Industries that brought together 200 business leaders and representatives from government, civil society and academia.
The Secretary-General expressed hope that this step will be a model for other countries in the region. The pioneering companies also signed the Cairo Declaration 2004, agreeing to respect the Compact's nine principles relating to human rights, labor and the environment. They pledged to make the principles a part of their business practices and corporate planning, and to encourage other Egyptian companies to participate.
Egyptian Prime Minister Atef Ebeid said that the government "pays special attention to the Global Compact," and noted that it is based on international treaties that Egypt has ratified.
Among the Egyptian companies endorsing the Compact are the Al-Hoda Company; Arabian Oils, Grains, and Chemical Complex; TEA Computers, Talaat Mostafa Group, Oriental Weavers, M. Ahmed Daoud and Co, and Henkel PDC Egypt. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
