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The Financial Crisis and its Impact on ASEAN

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Civil Society Voices of the vulnerable sectors in ASEAN economies calls for a thorough re-examination of global financial system. They were concerned about the current global economic and financial crisis which has created havoc to livelihood of many communities especially on Small Medium Enterprises, farmers, artisan fisherman and the indigenous people in ASEAN economies. A Regional conference on the impact of the global financial and economic crisis to the vulnerable sectors in ASEAN was held on 28- 29 July in Jakarta, Indonesia. Conference was co-hosted by UNI Apro, Asian Farmers Association and AsiaDHRRA – Regional CSO on Development of Human Resources and Rural Agriculture. Trade unions, regional and national civil society organizations, labor ministerial officials in ASEAN, development stakeholders and donor community representatives and the ASEAN officials attended the conference. Bro. Alberto Emilio Yuson Asia Pacific Regional Secretary of Building, Woodwork, Forestry International (BWI) delivered the welcome message on behalf of the trade unions. Key note address on the theme Confronting the Employment and Social Challenges in ASEAN was delivered by Christopher Ng, Regional Secretary of UNI Apro. Dr. Donald Tambunan, Head, Social Welfare, Women, Labor and Migrant Workers division of ASEAN Socio-Cultural Community Department represented the ASEAN secretariat at the inauguration. Civil Society voices and responses were discussed in two separate workshops. Bro. Mohammed Shafie BP Mammal, President of UNI Malaysian Liaison Council (UNI MLC) contributed to the discussions on the impact of the crisis on workers of informal employment and migrant workers at the workshop. Bro. Joseph Solomon General Secretary of NUBE Malaysia and the President of UNI Apro ASEAN Bank Union Council called for reforms on financial regulation and introduction of a ASEAN charter for responsible sale of financial products in the region with a view to have new financial architecture that is fair and transparent and responsive to shocks. A Conference recommendations proposed to the ASEAN to effectively address the impact of the financial crisis; emphasized on comprehensive framework on financial regulations, introduction of ASEAN charter for responsible sale of financial products on the guidelines of UNI Finance proposals for stabilizing and reforming the financial system (see attached). Furthermore, Civil Society organizations were supportive of promoting social dialogue on Asian concept of consensus building “mushawara” and proposed to develop practical strategy based on true social partnership between employers and trade unions giving full respect and dignity befitting a partner in the recommendations. Trade unions proposal for initiating social dialogue for introduction of a decent minimum wage as a response to arrest the widening income gap was also supported by the civil society groups. ABUC President J Solomon proposed that UNI Apro affiliates in ASEAN finance sector to hold a meeting to study on different sales practices of financial products and regulation practices to submit a draft charter to ASEAN secretariat to initiate a social dialogue with the stakeholders by September 2009. Jayasri Priyalal Director UNI Apro Finance Sector Activities |