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Asian Financial Stability Dialogue : No Trade Unions
Published: 18 May 2012
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| At a dialogue session with Asian Development Bank (ADB) President Haruhiko Kuroda held in Manila, Philippines in conjunction with its 45th Annual Meeting with GUF delegation and Civil Society Organisations (CSOs), Mr. Kuroda reportedly responded that the proposal for ADB to enter into technical assistance agreements with Global Union Federations (GUFs) is “quite relevant.” The GUFs have been lobbying ADB at its annual meetings since 2005 for compliance of International Labour Organisation (ILO) Core Labour Standards in ADB-funded projects implemented for Developing Member Countries (DMCs) through partner organizations. ADB’s official operational policy guidelines need to adopt international core labour standards so that these standards will be strictly enforced at project sites to protect workers' rights. “We are uncertain what keeps the ADB from acting on our demand,” said Lakshmi Vaidhiyanathan, Regional Secretary of Public Services International. She also noted that ADB formalized similar institutional arrangements with other CSOs and even private contractors, but not with unions. Responding to a question on whether all stakeholders in the finance industry, including trade unions, will be engaged in the proposed Asian Financial Stability Dialogue (AFSD), President Kuroda said that only officials from finance ministries, regulatory authorities, and central banks from respective countries will be involved. President Kuroda explained that the dialogue was initiated by ASEAN+3 countries after the Asian financial crisis in 1997, whereas the Financial Stability Board was initiated by G20 to regulate global financial markets following the global financial crisis in 2008. Global Unions are international trade union organizations working together with a shared commitment to the ideals and principles of the trade union movement. They share a common determination to organize, to defend human rights and labour standards everywhere, and to promote the growth of trade unions for the benefit of all working men and women and their families. The GUFs, led by Public Services International, Building and Wood Workers International, UNI Global Union, and the International Transport Federation, represent about 70 million workers across the glove in the public sector, building and construction, services, and transport sectors, respectively. Global unions held a press conference on 5th May 2012 calling ADB to respect labour rights. Christopher Ng, Regional Secretary of UNI Asia & Pacific, maintains that core labour standards should be included in ADB official policy guidelines and made mandatory for compliance by DMCs and partner organizations for projects implemented under ADB funding assistance. |
 ADB President Haruhiko Kuroda said that the Asian Financial Stability Dialogue initiative will not be opened to trade unions  ADB CSO Panel Discussion panel members |