In this resolution, the 3rd ITUC Asia Pacific Conference recognises that social inequities and inequalities in the world today brought about by unfettered globalisation have resulted in instances of social and political upheavals, disrupting development efforts. Multinational corporations are a key driver of globalisation through foreign direct investments (FIDs), through the worldwide integration of population involving complex business relationships and through the pressure they exert on policy-makers for liberalisation, deregulation, and privatisation. A major beneficiary of the globalisation process has been the multinational corporations.
Among the 100 largest economies in the world, 51 are national economies, the remaining are multinational companies. MNCs are not just a growing economic force, but the political force that MNCs wield with the back of their economic might is also increasing. Corporate sales of major MNCs actually exceeded the GDPs of many receiving countries.
One of the arguments trotted out in favour of MNCs is that they contribute to the increase in employment opportunities in the host countries. While there is employment creation, employment security is questionable where employment in MNCs is concerned. The Conference commits the ITUC-AP, working with affiliates and GUFs to intensive campaign for coverage of labour laws in the MNCs, organising workers in MNCs to be given priority, launch regional/international organising campaigns where the companies supply chains have wider geographic coverage, etc.