Speech by 2nd Minister, 26 MARCH 1996 - ASEAN AND SOUTH AFRICA : BUILDING NEW LINKS

Your Excellency Chief Executive General Pervez Musharraf
Mrs Begum Sahiba
Distinguished Guests
Ladies and Gentlemen

On behalf of the government and people of Singapore, it gives me great pleasure
to welcome you, your wife Mrs Begum Sahiba and your distinguished delegation to
Singapore. I am confident that your visit will strengthen the bilateral
relations between our two countries.

Singapore and Pakistan enjoy good relations. Politically, we share a common
outlook on many international issues and have co-operated closely at the United
Nations, the Non-Aligned Movement, and the Group of 77. Economically, I am
pleased to note that trade between our two countries has been increasing
steadily since 1997. In 1999, our total trade reached S$650 million. This
trade can be increased further as we promote economic co-operation between our
two countries. It is an area our private sectors should take the lead. In
addition, I hope that we can also look at strengthening other areas of our
relationship such as cultural co-operation and people-to-people ties.

Your Excellency

Not so long ago, the East Asian region was struck by one of the worst financial
crises in recent years. Many East and Southeast Asian governments came under
tremendous pressure.

Fortunately, the worst is over and the region is bouncing back. The region has
shown its resilience. It had coped with the political, economic and social
problems. Even when the crisis was full-blown, it did not affect regional
co-operation and cause dissension. Regional instability would have made it
difficult, if not impossible, to restore investor confidence. Low investments
and poor economic growth would have in turn affected the stability of the
region. The nexus between regional stability, investor confidence and economic
prosperity, once broken, will lead to a vicious cycle of instability and
poverty.

The South Asian region faces some difficult challenges. We wish for peace and
stability in your region. Without it, economic growth and prosperity will
remain elusive. We hope that Pakistan and India will resume their dialogue to
continue the progress which the Lahore Declaration in February 1999 signified.
We know the magnitude of the task, and are aware of the long road and the
difficulties ahead. But South Asia must have the vision and courage to look
ahead and not allow differences, however basic, to bog down the region.

Moreover, the world is entering a new phase. Globalisation, technological
revolution and the Internet have made this an interconnected world. The East
Asian crisis, for example, affected not only those in the region, but beyond.
This interconnectivity presents not only challenges, but also holds great
promise, provided we are willing to embrace it. Singapore is trying to change
our people''s mindset to cope with new challenges. Pakistan and Singapore can
work together to face the new challenges of the new millennium.

Excellencies
Ladies and Gentlemen

May I now ask you to rise and join me in a toast to the good health and success
of His Excellency Chief Executive General Pervez Musharraf and Mrs Begum Sahiba;
to the peace and prosperity of the people of the Islamic Republic of Pakistan;
and the continued friendship between Singapore and Pakistan.