JAKARTA – The foreign ministers of the countries participating in the three-day Asian-African Leaders’ Summit here have drafted a 10-point declaration reaffirming the 10 principles adopted by the 1955 Bandung Conference.

The draft declaration is subject to approval by the heads of delegations to the April 21-23 summit that brings together 102 leaders from the Asian and African continents, including 47 heads of states and United Nations Secretary- General Kofi Annan.

President Gloria Macapagal-Arroyo is among the Asian heads of states attending the summit.

Foreign Affairs Secretary Alberto Romulo is one of the architects of the draft declaration.

In the Bandung Conference held on April 24, 1955, then Foreign Affairs Secretary, the late Gen. Carlos P. Romulo, represented the Philippines and was a signatory to the original Bandung Declaration of 10 Principles.

The 10 Principles of the 1955 Bandung Conference are:

• Respect for fundamental human rights, and for the purposes and principles of the Charter of the United Nations.

• Respect for the sovereignty and territorial integrity of all nations.

• Recognition of the equality of all races and of the equality of all nations, large or small.

• Respect for the right of each nation to defend itself singly or collectively, in conformity with the United Nations Charter.

• Abstention from intervention or interference in the internal affairs of another country.

• Abstention from the use of arrangements of collective defense to serve the particular interests of any of the big powers.

• Refraining from acts or threats of aggression or the use of force against the territorial integrity or political independence of any country.

• Settlement of all international disputes by peaceful means, such as negotiation, conciliation, arbitration or judicial settlement as well as other peaceful means of the parties’ own choice, in conformity with the United Nations Charter.

• Promotion of mutual interest and cooperation.

• Respect for justice and international obligations.

The draft declaration also calls for the recognition of diversity among nations, including social and economic systems and levels, promotion of non-exclusive cooperation and unified efforts in multilateral fora.

The new Asian-African partnership framework likewise stresses cooperation in such areas as trade, industry, investment, finance, tourism, health, energy, agriculture, water resources and fisheries which are primary concerns of the Philippines.

The Asian-African Summit is also expected to address new concerns as transnational crimes and terrorism, weapons of mass destruction and armed conflicts to help ensure peace, stability and security to sustain development toward progress.

JAKARTA (Via PLDT) -- President Gloria Macapagal Arroyo today called for unity and strong collective action among Asian and African political and business leaders toward preventing a global economic crisis that could be triggered by an unsustainable level of crude oil prices.

Addressing the morning session of the Asian-African Business Summit at the Muliah Hotel here, President Arroyo noted that while there has been some softening of oil prices in the past few days, "the trend could worsen to levels that could halt economic growth or even prompt a global recession."

The Asian-African Business Summit is a parallel conference of private businessmen to the ongoing Asian-African Leaders’ Summit in this Indonesian capital.

President Arroyo said the oil price spiral is now stripping oil-importing countries in Asia and Africa of their ability to manage for global competitiveness and preventing developing countries from pursuing economic development programs with vigor.

She said the oil price malaise could lead to the specter of economic decline and restrict "our respective governments' ability to provide much- needed programs for the marginalized sectors in their economies."

The problem, she added, is also further widening the gap between rich and poor countries and could provide a " toxic formula that could increase global terrorism."

"In behalf of the Philippines, therefore, I call on the world leaders, including the petroleum-exporting countries of Asia and Africa, to offer solutions that will temper the volatility of crude oil prices," she declared.

JAKARTA (via PLDT) -- President Gloria Macapagal-Arroyo has offered to expand the Philippines' trade with Africa, where its largest trading partners are South Africa and Mauritius.

Addressing the Asian-African Business Summit at Muliah Hotel here this morning, President Arroyo said the Philippines sells cement, garments and a host of other products, including cars and aircraft parts, while it buys iron and steel, smart cards, cotton and copper, among other products, from its African trading partners.

"We’re willing to buy more and we like to add Africa to our growing list of our automobile export markets," she said.

She also invited African businessmen and corporations to invest in the Philippines' rich but still largely untapped mineral resources.

"It is you, the businessmen -- it is the free, open and competitive markets that must ultimately drive the engine of job creation and the eventual elimination of poverty in many countries of our two regions," she told the summit participants.

President Arroyo said open markets and free enterprises constitute the centerpiece of her philosophy and governance policy because she believes that a "strong, growing economy is the best hope to alleviate the crushing pain of poverty."

Noting that many of the poor pay the highest price for free markets, she assured that in the Philippines, she has assumed it as her moral obligation to ensure that the poor are protected as the Philippines transitions to a global economy.

"I hope that globalization will be a rising tide and lift all boats, but I fear that too many boats will have holes in the bottom," she said.

Good morning. I’m honored to be here with you today and among the keynote speakers of the Asia-Africa Business Summit of 2005. And I congratulate the Indonesian Chamber of Commerce and Industry, in particular, it’s president, Mr. Hidayat, for organizing this historic event.

In a period when the global economic order is transforming the economic, political and social landscape, this summit is a significant move by developing and least developed nations to move forward in confronting the challenges of the period. In the case of the business sectors of Asia and Africa, the most important response to these challenges is to manage for global competitiveness.

We can draw our inspiration from the "Bandung Spirit" of the First Asian-African Summit of 1955, the spirit of striving to attain a just, peaceful, progressive and prosperous world order.

Forty-five years after the Bandung Conference, on November 6-7 in the year 2000, the Asian-African Business Associations Summit was inaugurated in Kuala Lumpur, with the aim of building bridges among the private sectors of both regions. In that summit was emphasized the role of the private sector and its efficiency in promoting economic development.

Now, 50 years after the Bandung Conference and five years after the First Asian-African Business Summit, this Golden Jubilee of the Bandung Conference is the golden opportunity to rekindle the Bandung Spirit and to work together to face the challenges of today’s realities, including managing for global competitiveness.

Managing for global competitiveness requires dealing with various factors such as the protection of natural resources and varied environmental issues; the flow of international capital, foreign exchange and interest rates; trade barriers; as well as training and education; and now the steep increase in the world price of oil.

There’s no question that the rising price of oil has the potential to put the brakes on economic expansion. And we all know that the poorest among us suffer the most as a result of higher prices in food, energy and transportation. That’s why we must do everything in our power to manage our way through these rough seas by protecting economic growth while minimizing the impact on rising prices.

I am therefore taking the opportunity of this summit to call for unity between Asia and Africa and for stronger collective action toward preventing such a crisis that could be triggered by unsustainable level of crude oil prices. While there has been some softening of oil prices in the past few days, the trend could worsen to levels that could halt economic growth or even prompt a global recession. It is stripping the oil-importing countries of Asia and Africa of our ability to manage from global competitiveness. It is preventing us from pursuing our economic development programs with vigor. It is requiring us to face the specter of economic decline. It is restricting our respective governments’ ability to provide much needed social programs for the marginalized sectors in our economies. It is increasing poverty, and further widening the gap between rich and poor countries. This is a toxic formula that could increase global terrorism.

In behalf of the Philippines, therefore, I call on the Asian-African Summit to do its share in pushing for greater stability in oil prices. I call on the world leaders, including the petroleum exporting countries of Asia and Africa, to offer solutions that will temper the volatility of crude oil prices. Most of the demand for and most of the supply of oil come from Asia and Africa. Thus, it’s especially important to strengthen cooperation between Asia and Africa at this time.

We in the Philippines, therefore, are eager to expand our meager trade with Africa. South Africa is our largest African trading partner, followed by Mauritius as our second largest African export market. We sell cement, garments, gear boxes of motor vehicles, and aircraft parts, and we buy tobacco, iron and steel, smart cards, cotton, sardines, and copper. We’re willing to buy more and we’d like to add Africa to our growing list of automobile export markets. We also invite the African mining industry to invest in our rich but still largely untapped mineral resources.

It is you, the businessmen—it is free, open and competitive markets that must ultimately drive the engine of job creation and the eventual elimination of poverty in many countries of our two regions.

Open markets and free enterprise are the centerpiece of my philosophy and drive the policies of my government. I believe a strong, growing economy is the best hope to alleviate the crushing pain of poverty. But many of the poor pay the highest price for free markets, and it is my moral obligation to insure that the poor are protected as we transition to a global economy.

I hope that globalization will be a rising tide and lift all boats, but I fear that too many boats will have holes in the bottom. As business and political leaders, we must not only work to integrate our economies and create wealth and opportunity, but we must also help make sure the poor have a strong, seaworthy vessel that includes a decent wage, access to healthcare, a sound education and social justice.

We’ve seen the globalization of terrorism, but we’ve also witnessed the globalization of peace. In the Philippines, I’m inspired by a peace process in Mindanao that includes a global cast of friends from Asia, Africa and the Middle East helping us in our quest for peace and stability.

The continuing success of the peace talks is driven by a firmly entrenched ground level ceasefire supported by an international monitoring team led by Malaysia, with participating contingents from Libya and Brunei. I’d like to thank Malaysian Prime Minister Abdullah Badawi not only for supporting the ceasefire process but for hosting and facilitating the substantive negotiations. The forward impetus of the peace talks will continue to jack up confidence and investments, spur agri-business and provide a wider swath of jobs and livelihood in conflict-affected areas and throughout Mindanao.

The lesson of Mindanao for the Philippines is a lesson for our two continents. As we integrate our economies in Asia, Africa and the world, we must also integrate the basic human values of compassion, tolerance and social justice. Economic development must always go hand in hand with the development of the human spirit and the liberation of the poor.

Corruption remains a barrier many of our countries must face squarely if we are to develop our economies, attract investment and provide equality of opportunity to all of our citizens. I’m committed to transparency and openness in government for a very simple reason: The bright sunshine of day is a great disinfectant to the dark recession of corruption.

I aim to eliminate red tape to encourage business, both domestic and foreign, to invest in the Philippines. But I will not give a green light to unfettered exploitation of workers, the laws or the environment in the pursuit of cut and run economic exploitation. I want to encourage full, lifetime partnership with business. We must always provide balance and think about the long-term well-being of the entire nation.

We must have an energy program that creates genuine energy independence and harnesses the creative forces of the marketplace to bring in a range of new, clean and cost effective alternative sources of energy in the Philippines.

We need a strong United Nations, but we also need strong nations that are united to solve problems regionally as well as on a global basis. I believe we’re at a tipping point in the evolution of globalization where individual nations, in one’s and two’s and regional blocs, must take greater control of challenges closer to home. Not every challenge needs to first be made into a global problem before being solved.