In a 12 April letter to Secretary-General Kofi Annan, the Jakarta Stock Exchange announced its commitment to the Global Compact and its principles. Jakarta Stock Exchange President Director Erry Firmansyah stated: "We express our intent to support and advance the principles within our company and entities controlled by it. We undertake to make a clear statement of our support of the Global Compact in our annual report or other public documents". He added: "The Global Compact recognizes that, because of the wealth that business creates, businesses are part of the solution to world peace and security and a decent standard of living and quality of life".
The Jakarta Stock Exchange is the second exchange to the join the Global Compact in recent weeks. Following a 15 March exploratory meeting of the Global Compact and approximately 15 of the world's exchanges, Bovespa -- the Brazilian stock exchange in Sao Paulo -- announced its decision to join the Compact.
The Global Compact is currently in discussions with other stock exchanges on opportunities for collaboration and partnership.
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