President Türk emphasises strengthening fairness in the business world

Ljubljana, 20.1.2011  |  press release

The President of the Republic of Slovenia, Dr Danilo Türk, today attended the conference "Fairness – a source of long-term competitiveness of the economy". In his address, he expressed his satisfaction with the participation of the Slovenian business elite in global efforts for the improvement of the business world and its practices within the UN "Global Compact" initiative.

President Türk emphasised that honesty is a fundamental human virtue requiring constant and active efforts. He recalled that from Antiquity onwards, solid law has been a precondition of ethical conduct in society, and that the profit motive in the business world should be regulated. President Türk emphasised that today’s discussions on the profit motive should be focused on issues of sustainable profitability that are associated with fairness or the social accountability of businessmen and enterprises.

Law is not solely the world of legislation, which dictates the correctness of actions, but also reflects society and the highest social values that have been incorporated into the permanent legal system. According to President Türk, the rule of law is of fundamental importance for the functioning of society and the business world, as well as for their success and sustainable profitability. President Türk added that the law in its essence also comprises directly expressed fundamental ethical elements, such as conscientious and fair implementation of legal standards or the "bona fide" (good faith) principle.

Among work towards good legislation as the basis for conscientious and fair implementation of legal standards, President Türk drew attention to the recently adopted Integrity and Prevention of Corruption Act. He further proposed that managers' associations should actively participate in work towards strengthening fairness and integrity in business, and should condemn unfair practices in the business world. President Türk believes that decisions of this kind would help to create a favourable cultural environment for fundamental values to be given their due position in society.