FECC Adopts Ethical and Business Principles

The European Association of Chemical Distributors (FECC) launched its new Ethical and Business Principles. The Principles are a voluntary initiative for chemical distribution companies to demonstrate their commitment to conducting business to a high ethical standard and according to best business practice. "It's great news for the distribution industry that we now have a set of principles that can be applied uniformly across our growing industry," said Hendrik Abma, FECC Director General. "It strengthens our legitimacy in the eyes of both customers and regulators, and once again proves our members' commitment to running a professional industry to the highest standards." "These principles will also help the EU to fight ‘creative' black and grey customs schemes, a stated action of the High Level Group on the Competitiveness of the European Chemicals Industry. These schemes are currently a major problem for chemical exporters to some countries, such as Russia, and cause significant business and legal risks for all players. The more actors in the chemicals industry that join in this effort, the more effective we will be," said Abma. The Principles commit signatories to act in strict compliance with the laws, regulations and policies and to conduct their business with integrity in their dealings with customers, suppliers and competitors as well as towards employees and the public. FECC will be collecting signatures from members in the coming months and will publish an initial list of signatories in early November.