Having met in Dhaka for the Sixth Asia-Pacific High-Level Employers' Conference, on 2 and 3 December 2003,

Having discussed the theme of globalization and come to conclusions thereon

Noting that globalization offers enormous opportunities for development and growth to those who participate effectively in it

Noting that globalization has exposed vulnerabilities in many economies, thus identifying weaknesses that need to be addressed,

Recognizing that in order to effectively participate in globalization countries have to adopt appropriate policies for their own governance, including transparency, political accountability, and predictability, and they have to also participate effectively in the framing of the rules governing globalization

Recognizing further that good governance has to be based on democratic principles and core values, and need strong institutions to support it

Noting that the Asia-Pacific region is home to some of the nations that have best engaged with globalization and benefited from the opportunities it offers

Concerned that the failure of certain countries and regional groups to dismantle tariff and non-tariff barriers to trade, and to end subsidies which distort trade, unfairly places other countries which wish to participate in globalization at a disadvantage, undermining regional integration and access to global markets and causing considerable hardship

Concerned also that the obligation to comply with diverse buyer codes of conduct and audit regimes seriously interferes with the access of small and medium-sized companies in particular to global markets

Concerned further that corruption, weak legal systems, and inadequate investment in people and in infrastructure present obstacles to integration with the global economy in some parts of the region,

Noting that the population of the Asia-Pacific region can become a significant asset if sufficient investment is made in human resources development and the building of economic infrastructure, so that poverty will be eradicated and future generations will be more productive and earn more, thus widening and deepening the market

Concerned also that in many countries in the Asia Pacific region much remains to be done to further build the enabling environment necessary to encourage investment and foster enterprise creation

Noting that regional and sub-regional integration is a prospective approach to effectively participate in globalization

Recalling the objective of the Confederation of Asia-Pacific Employers (CAPE) to make the environment of the Asia-Pacific region an attractive and better place to do business in, as well as to promote social and economic development for its people,

We, the employers' organizations of the Asia-Pacific region:

work with governments and other partners to establish open market economies in the Asia-Pacific region;

promote competitiveness as the key strategy for benefiting from globalization

promote good governance as the basis for corporate culture

contribute to national human resources development policies.

CALL on governments in the Asia Pacific region to create the right conditions for successful integration into the global economy by:

Continuing to ensure a climate of transparency and accountability, free of corruption

creating an environment for attracting more foreign direct investment and stimulating productivity, including transparency in contractual and commercial rights and a supportive infrastructure

creating an enabling environment for employment generation through successful enterprises and investment in education and skills

promoting greater market access and regional and sub-regional integration by removing internal and external barriers to trade