SPEECH BY MR TAN SOO KHOON, SPEAKER OF PARLIAMENT, AT DINNER IN HONOUR OF H E MR WANMUHAMAD NOOR MATHA, SPEAKER OF THE HOUSE OF REPRESENTATIVES AND PRESIDENT OF THE NATIONAL ASSEMBLY OF THAILAND ON WEDNESDAY, 12 MARCH 1997 AT 7.30 PM AT MANDARIN HOTEL

Your Excellency

Distinguished Guests

Ladies and Gentlemen

It is my privilege to welcome Your Excellency Mr Wanmuhamad Noor Matha, Speaker of the House of Representatives and President of the National Assembly of the Kingdom of Thailand and Thai Members of Parliament.

I am delighted to be able to reciprocate in a small way the warm and gracious hospitality accorded to my delegation and to me by Thailand when we were in Phuket last year to attend the ASEAN Inter-Parliamentary Organisation meeting.

Singapore and Thailand enjoy excellent bilateral ties. This is manifested by the close relationship between our political leaders, the good working relations between our respective officials, and the close contacts between our peoples.

The regular exchange of visits by leaders of our countries is a further reflection of our close ties. Although the new Thai Government has only been in place for about three months, we have already had the visits from His Excellency Foreign Minister Prachuab Chaiyasan and a Thai parliamentary delegation led by Your Excellency. Next week, Singapore will host a visit by His Excellency Prime Minister Chavalit Yongchaiyudh. On Singapore's part, recent months have seen the visits to Thailand of Deputy Prime Minister Dr Tony Tan and Minister Yeo Cheow Tong. Minister for Communications Mr Mah Bow Tan and Minister for Finance Dr Richard Hu have also visited Thailand recently to attend ASEAN meetings.

Thailand and Singapore are close economic partners. Our bilateral trade has been expanding rapidly. Singapore is Thailand's third largest trading partner and the largest within ASEAN. In 1995, we were Thailand's fifth largest investor. In the first nine months of 1996, Singapore investments in Thailand totalled US$1.1 billion. Singaporeans also rate Thailand highly as a popular tourist destination. In 1996, about 400,000 Singaporeans visited Thailand. This is a 35% increase from the previous year's figure of 300,000, and accounts for over 6% of Thailand's total visitor arrivals. We should continue to encourage such visits by our peoples.

We should continue to strengthen our economic links, in particular private sector partnerships. There are good opportunities for Singapore businessmen to invest in Thailand and to form joint ventures with their Thai counterparts to invest in neighbouring third countries. Such partnerships, would be mutually beneficial and contribute to the prosperity and stability of the region.

Our cooperation extends to multilateral fora as well. We have worked well with Thailand in ASEAN. With ASEAN expanding to include all 10 Southeast Asian countries, it is our duty as good neighbours to ensure that the new members' transition into the ASEAN family is smooth.

Clearly, the substantive ties that bind Thailand and Singapore together are extensive and wide-ranging. It is our responsibility as politicians and leaders to ensure that our warm and cordial bilateral ties remain on firm foundations. I am pleased to say that your visit, Excellency, has contributed significantly towards this important process of further enhancing our relationship.

Your Excellency, ladies and gentlemen, may I now invite you to rise and join me in a toast to the good health of His Majesty the King of Thailand, to Your Excellency's successful tenure as Speaker of Parliament, and to the close friendship that exists between the leaders and peoples of Thailand and Singapore.