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.

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