Cuba must reap the benefits of globalization says ICC President
Havana, 20 October 2000 - ICC President Adnan Kassar used the opening of a major international business conference in Cuba to invite the island nation to take its place in an emerging new world order.
Describing the pursuit of economic prosperity as the driving force of all nations in the new millennium, Mr Kassar said the benefits of globalization were available to all - including Cuba.
"Economic prosperity has now become the goal of every country whereas a few decades ago, political strength was the main objective," he said at the opening of the ICC Latin American Regional Meeting in Havana. "This is why the private sector, led by the ICC, has come to play a more prominent role in today's world."
"ICC is convinced the emergence of a global market economy will bring prosperity to millions. But the right balance needs to be found between rules and freedom if the global economy is to realise its full potential. "
Speaking before an audience of Latin American business people, Mr Kassar took the opportunity to encourage his hosts in Cuba to continue the moves they have made recently to encourage private enterprise.
"I have personally witnessed the growing interest of the international business community in pursuing business opportunities in Cuba," he said. "This has transpired thanks to the commitment of the Cuban government and the Cuban business community to open up their economy to international investment as well as their understanding of the importance of foreign investment to the development of the Cuban economy."
Mr Kassar said if countries with emerging economies were to become competitive, they would have to submit themselves to a concerted programme of systematic reform - especially, he said, "on such matters as taxes, labour conditions and environmental compliance."
"However , there are no 'one size fits all' approaches," he added. "Globalization, economic reforms and liberalization of markets are not ends in themselves, but means to an end. That is, to raise living standards."