Ethical Rules in Foreign Trade

Ethical rules express the basic norms of behavior that foreign trade actors must comply with. These rules increase security in international business relations and ensure the consolidation of long-term business between the parties. The main foreign trade ethical rules:

1. Transparency and Honesty: Parties must conduct business transactions openly and honestly, avoiding misdirection or fraud.
2. Fair Competition: Unfair competition, price manipulation or marketing practices should be avoided.
3. Respect for Intellectual Property Rights: Trademarks, patents and other intellectual property rights must be protected and infringement avoided.
4. Compliance with Laws: Full compliance with national and international trade.
5. Human Rights and Labor Standards: Practices that do not violate human rights, such as child labor and forced labor, should be avoided.

Social Responsibility and Foreign Trade

Social responsibility refers to growth by considering not only the economic results of commercial activities but also their social and growth effects. Companies can fulfill their social responsibility in foreign trade life as follows:

1. Sustainability: Protecting environmental conditions, supporting the carbon footprint and adopting sustainable production methods.
2. Social Investments: Investing in projects that will improve the lives of employees and providing support to local communities.
3. Fair Working Conditions: It offers fair wages, a safe working environment and social rights to its employees.
4. Supporting Local Economies: Updating visibility of local information in the supply chain.
5. Ethical Supply Chain Management: Demanding ethical and sustainable practices from suppliers as well.

Consequences of Ethical Violations

Failure to comply with ethical rules and social responsibility in foreign trade may have negative effects on biological reputation, economic status and legal issues. Companies operating on a global scale in particular may face the risk of rapid expansion of ethical violations. This results in:

• Consumer confidence may decline.
• Criminal sanctions and highly increased lawsuits may be on the agenda.
• Brand reputation may be irreversibly damaged.

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