*{UN and private sector need each other – Kofi Annan [http://www.iccwbo.org/home/news_archives/1998/un_and_private_sector.asp]

Geneva, 23 September 1998 –} United Nations Secretary General Kofi Annan today told an audience of business leaders and the heads of international organizations that it would be "a grave mistake" to reverse the trend of economic integration in the world.

"The prospects of millions of people for improving their standards of living depend on the continued openness of markets," Mr Annan said at the opening session of the Geneva Business Dialogue, a two-day conference called by the International Chamber of Commerce.

The Dialogue, designed to build cooperation between business and governments in meeting the challenges of the global economy, met against the background of global financial and economic turmoil, which has spread from Asia to Russia and now threatens Latin America. It has also lead to pressures for the imposition of controls and restrictions on capital mobility.

In his video-taped message from UN headquarters in New York, Mr Annan said: "I believe the United Nations has a responsibility; as the global institution, to stress the global nature of the crisis – and to insist on the need for global solutions, based on global rules that are fair to all."

The Secretary General’s sentiments were in line with recent calls from ICC as the world business organization for a global framework of rules that will stimulate trade and investment, and for the World Trade Organization to press ahead with further liberalization of markets.

Mr Annan said he wanted to build on the close ties already existing between the UN and ICC. "Our expanding relationship is part of a trend that holds great promise for global peace and prosperity: the growing awareness that the goals of the United Nations and the goals of business can and should be mutually supportive. In today’s interdependent world, the United Nations and the private sector need each other."

Referring to the volatility and uncertainty the world is now experiencing, Mr Annan said globalization was drawing people closer together, offering wider choices, and helping to improve quality of life. But its benefits were not felt equally. 

"Millions on this planet still live on the margins of the world economy. Millions more experience globalization not as a great new opportunity, but as a profoundly disruptive force, which attacks both their living standards and their culture." He said the numbers who felt that way had vastly increased. In Indonesia, almost 15 000 workers were losing their jobs every day.

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