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CSR Pact Signed Between CNTAC And FTA
May 23, 2007 |
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| Category: Business & Society
The first Sino-European cooperation agreement on corporate social responsibility has been signed in a move to strengthen strategic ties between Chinese textile suppliers and European retailers.
The China National Textile and Apparel Council and Foreign Trade Association of Europe signed the pact, in which the organizations promise to foster cooperation on information sharing, evaluating suppliers and retailers and preparing training material to improve the supply chain.
Chen Shujin, vice president of CNTAC told local media that Chinese enterprises had increased their awareness of CSR in recent years, thanks to economic globalization and the government's call for a more harmonious society. Chen added that textile enterprises should pay more attention to this issue because their processing procedure impacts both employees and the environment.
CNTAC reportedly has made strides to implement CSR practices, such as establishing a CSR promotion office, formulating a CSR industrial code for China's textile and apparel businesses, and conducting annual CSR reports since 2005. However, collaborating with mature markets might speed up improvements of Chinese companies' CSR practices, so this pact should help both sides develop better work environments and products.
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