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Global Business Exchange Needs Cooperation between Chambers

by Mahbubur Rahman
THE world stands at a historic turning point today. The Cold War and the super power rivalries have ended alter 45 years. Western Europe ia uniting. Eastern Europe la undergoing political, economic and aoclal changes which are both full of promlee and dangers. and with the dramatic collapse of Communist power, the Russian Republics are now embarked on a process of market oriented economic reform and political democratlaatlon The United States Is drawing Its neighbours Into a huge free thia Pacific basin are also getting together Theae are healthy and hopeful algna for the growth and development of a multilateral strategy for global economy and for the expansion of global business exchange. Although the rialng tide of nationalism tn the countries of Eastern Europe and Socialist block is likely to cause hindrance, their intention to unite with economic groups like the EC. will help contribute to the global economy. The Soviet Union is no longer considered in Europe aa a rival and an adversary. but aa an economic partner. The collapse of Soviet challenge has greatly reduced the Importance of military fire power. Military pacts and treaties are now yielding place to economic co-operation Business is displacing military tools, capital is taking the place of fire poxver and the market penetration takes the place of foreign bases. In other words, geo-politics is being replaced by geo-economics.
Side by side with these positive changes it is also to be noted that more people than ever before are living below the poverty Une. With unbridled population growth, rapid environmental degradation and frequent natural calamities the Kor countries threaten to come poorer. The main reason for their poverty is their Inability to productively harness their own vast human, and natural resources They need the West • financial and technological assistance At the same time the Industrialised countries also cannot neglect them In their own interest
Poverty malnutrition and disease are the Ideal breeding ground* for political turmoil
present Western interest in the nations that have oil and natural resources vital to the survival of the West. Least Developed Countries (LDCs) provide a huge market for the manufactured goods of the Industrialised countries, and they should be developed, their living standard should be raised and buying capacity enhanced In the interest of the West
Third World: Urgent Attention
Therefore, problems of the Third World Countries require urgent attention of the industrialised nations The policy prescription, for a new world order, must, therefore, demonstrate a far greater sensitivity to questions concerning distribution of opportuni Ues and wealth among nations. Organisation* like the UNCTAD/OATT. the EC. 0-7 and other Industrialised countries as a whole must take a more pragmatic and meaningful approach to the problems of the Third World, than what they have been doing.
The world is changing more rapidly than our capacity to manage change, and the complexities and challenges seem to defy our tools, our wisdom and even our imagination. Only determined and concerted efforts through co-operapon among nations can face such a situation and bring about har-monfous development of global economy Chambers of commerce and Industry economic organisations and other trade bodies can play a vital role in forging this co-operation through closer Interaction among them.
It is gratifying to notice the trend of IWiOs which indicates that economic co-operation among nations is on the Increase and as a result, there has been remarkable growth of regional trading blocks in Europe. North America and the Asia Pacific Rim We must realise that these regional blocks and bilateral agreements are not incompatible with the responsibility of global citizenship. But If the apprehension against a Fortress Europe' or a unified Germany comes true then our aspiration for a new world economic order’ or new international economic 'environment for the benefit of mankind as a whole, will fall asunder.
Multilateralism
But I am not a pessimist, i believe that the changes in the ideological climate that have taken place in last decades, the reeent regional block-building and the growing importance of political role of business at the international level have made the leaders of Western World aa well as of the Third World and of the East, realise the necessity of having a sound, non Inflationary eco nomlc management, and that the free-play of market forces are Important factors for the future of international trade. What is needed is a mixture of market opening measures tn the industrialised world coupled with hard negotiation on the dismantling of tariff and other barriers to trade In the developing world Itself May we. in this summit conference ("International Business Summit" held tn Osaka) urge upon successful completion of the Uruguay Round of multilateral trade negotiation as part of a larger effort to reinvigorate multilateralism The Uruguay Round provide* a real teat of the management of the global interdependence tn a multipolar world. To stimulate non-inflattonary growth by bolstering confidence, reversing protectionism and Increasing trade flow* and to encourage the integration of developing countries, Central and East European nations into the multilateral trading system, the successful cotopietton of the Uruguay Round Is essential The forthcoming deregulation of Western Europe, the emergence of market economies in Eastern Europe and the financial strength of the Pacific Rim — all demand an Integrated approach to global business exchange.
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The process of growing tn-temattonalisatton encompasses not only trade but also movement of capital, labour, information. technology and the restructuring of the productive process etc. Industrialisation today is the result of an integrated system of global trade and production. Some of the NICs mainly the four Asian tiger* plus Brazil. Mexico and perhaps Malaysia and Indonesia have shown that a dynamic integration tn subordinate position tn the world capitalist economy can lead to substantial development. But such is not the situation for me majority of the developing countries. The developed countries must take a long term view of the world economy and invest In the emerging markets of the developing countries. The future economic policies should alm at acquisition and diffusion of new technologies for economic development in the Third World and a global strategy may be set based on the respective interest of both North and South.
The role of Chambers of Commerce and other economic organisations and trade bodies in the creation of a healthy atmosphere for the development of global economy or new economic world order Is of vital importance. The holding of this Global-Business Opportunities Convention for the last two years since 1990 under the auspices of the Osaka Chamber of Commerce. Kyoto ft Kobe Chambers of Commerce, the Japan Chamber of Commerce, and Jetro is itself a demonstration of what should be the role of such organisations tn this respect The large participation in thia convention Itself proves its usefulness and significance. Last year's convention has created a network for the
tion. There are about ten thousand Chamber* of Commerce all over the world. If only half of them or a fraction of that
In organising such conference or conventions and adopt and implement resolution for expansion of global business exchanges/networks. we can achieve wonders tn the field of trade and investment promotion. I think the International Chamber of Commerce (ICC) based in Paris can also play a significant role In spreading idea by haiding . spectol
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Now a world about peace and security without which no development activity can sustain. In the Interest of global economy or the growing international/ multilateral trading system the concept of codec tive security needs to be materialised by the UN or any other world body. Although the UN possesses significant machinery designed to promote ment. tt has not been able to provide or develop a system for peace and security except as a last resort or safety net. The creation of a reliable and effective system for International peace and security involves more than reaching however forcefully, to a crisis that has already happened. It requires both the creation of conditions in which peace can be maintained and the capacity to anticipate and to prevent breaches of the peace The vast range of disputes, threats to or breaches of the peace or even acts of aggression which are likely to occur tn the aftermath of the Cold War. call for appropriate collective action by a credible international security system or new world order’ — either through regional or global organisations. The UN must get rid or the blame or stigma attached to it that action is taken only when a situation threatens the interests of the most powerful nations. A system of international peace and security must be comprehensive and universal, and It must protect the interests of the weak as well as the strong big and small, rich and poor nations without discrimination.
(Mr Mahbubur Rahman. President. Dhaka Chamber of Commerce A Industry (DCCt) made this presentation at the "International Business Summit" held in Osaka-Japan on October 21. 1991.)