The 5th Conference of the Asian Chemical Fiber Industries Federation was held at Grand Hyatt, Nusa Dua, Bali from 8th to 10th September 2004 in a situation of continuous escalation in energy cost across the globe, driven by supply issues of crude oil and significant increase in its demand. We continue to see increasing activities of terrorism which has gripped almost the entire world, having most severe impact on crude oil. Despite all the uncertainties, world economy has recovered impressively. Industrial production and global trade have picked up sharply; business and consumer confidence have strengthened; and new investments have resumed in most regions.