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Now more than ever before, the need to share information, consult and negotiate on all issues of economic development, has become critical. The current financial crisis and the effects of economic globalization have accentuated the need for social dialogue. With tripartism being the foundation of social dialogue, it is thus a necessary part of the process of establishing and securing democracy, social justice and peace. It also fosters transparent governance under the rule of law. Social dialogue assists in strengthening relations and in reducing tensions among the parties concerned. It is also a means of dispute prevention and settlement that has a positive impact on productivity, economic efficiency, and competitiveness.
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