Egyptian corporations pledge commitment to Anna's Global Compact initiative

Six Egyptian companies have joined the Global Compact initiative of United Nations Secretary-General Kofi Annan, which seeks to advance good corporate citizenship and responsible globalization.

According to a UN spokesman in New York, Sonac Societe Nationale du Commerce; Talaat Mostafa Group; Madico; Mobica; Orascom Construction; and the Americana Group have all pledged their commitment to implement the Global Compact, which brings companies together with UN agencies, governments, labour and civil society to foster action and partnerships in support of nine principles in the areas of human rights, labour and the environment.

"The engagement of Egyptian business leaders is an important step forward in terms of building roots for the Compact and its principles around the world and realizing the vision of the Secretary-General of a more stable and inclusive global economy," Fred Eckhard said. The Compact is now firmly rooted in about 50 countries.

The Advisory Council of the Global Compact will hold a dinner in New York on Wednesday, and then hold an all-day meeting, to be chaired by Deputy Secretary-General Louise Fréchette, on Thursday.