The American Chamber of Commerce in Bosnia and Herzegovina (AmCham BiH), in collaboration with the Center for International Private Enterprise (CIPE), successfully organized a ceremonial signing of the Business Integrity Principles in Sarajevo. This event, held at the U.S. Embassy in Bosnia and Herzegovina, brought together companies committed to adhering to high standards of ethical business conduct and transparency. The U.S. Embassy, a partner in this project, emphasized the importance of combating corruption and recognized the efforts of companies committed to these principles.
As part of this initiative, AmCham BiH has established cooperation with the public sector, including the Ministry of Justice and Administration of the Sarajevo Canton (KS) and the Anti-Corruption and Quality Management Office of KS. Additionally, a memorandum of cooperation was signed with the Public Procurement Agency in BiH, ensuring the implementation of ethical standards in public procurement through the preparation of guidelines that explain the application of specific legal provisions of the BiH Public Procurement Law, focusing on areas such as conflict of interest, due diligence of bidders, exclusion of participants from the procurement process, and other ethics and integrity-related provisions. These partnerships underscore the importance of ethical business practices in creating a favorable business environment.
The Business Integrity Principles signed by the companies are:
1. Companies will make every effort to comply with the laws of BiH and avoid knowingly assisting any third party in violating any law of BiH.
2. Companies will strive to uphold their contractual responsibilities.
3. Companies will follow fair competition laws.
4. Companies will treat other partners with fairness, respect, and good intentions.
5. Companies will not cooperate with persons and companies on the sanctioned lists (OFAC, EU Sanctions map, UN list).
Thanks to this initiative, more than 6500 employees from companies that first supported these principles have been informed about their significance. These ethical principles, clearly defined and communicated, will help create a culture where transparency and accountability are highly valued. When a company communicates its ethical standards clearly and transparently, it can increase trust among employees, as well as the trust of clients, partners, and other external stakeholders. Trust is crucial for the long-term success and reputation of a company.
The companies that have supported this initiative include Addiko Bank d.d. Sarajevo, Adriatic Metals BH, Artco Group, AS Holding, Authority Partners, BS Telecom Solutions, Carlsberg BH, Comtrade System Integration, Erkona, Ernst & Young, Euro-Express, Hemofarm, Hercegovinalijek, Lanaco, Logosoft, Medical, MKF Lider, NET CONSULTING, NewCold Metal Construction, Nova Banka a.d. Banja Luka, Orbico, Penny Plus, PwC, Roaming Networks, Roche, Teknoxgroup BH, Telemach BH, TMD Group, UniCredit Bank d.d. Sarajevo, BH Legal, and ZIRA.
These companies, as leaders in ethical business practices, set an example and good practice for others. Their commitment contributes to strengthening the market economy in Bosnia and Herzegovina and setting high standards in the private sector. Communicating ethical principles to all employees is not just a matter of regulatory compliance but a key element in building a strong and sustainable organizational culture. AmCham BiH will continue to foster a culture of correct and ethical business practices and advocate for the long-term success of its members.
