"18 October - Some 500 participants gathered in Brazil today to discuss Secretary-General Kofi Annan's Global Compact initiative - an effort to involve business in upgrading environmental, labour and human rights conditions, and to bring the benefits of globalization to more people worldwide.

"The meeting, held in Belo Horizonte, includes representatives from business, government and civil society. Participants are discussing how the Global Compact can stimulate partnership projects in support of development and good practices in human rights, labour and sustainable development.

"This event is part of a comprehensive outreach effort aimed at involving developing and transitional economies in the Global Compact. Similar meetings have already been held in Thailand, Philippines, Tunisia, South Africa, Singapore, Poland and Chile, while others are scheduled for later this year.

"First proposed by Mr. Annan in January 1999, the Global Compact aims to encourage business and labour to respect standards relating to the environment, employment laws and human rights. The Compact is not a regulatory regime or a code of conduct, but a platform for identifying and disseminating good practices based on universal principles."