Professor Klaus Schwab, Founder & President, World Economic Forum
Mr Bourguignon, Senior Managing Director, World Economic Forum
Distinguished Summit Participants
Ladies and Gentlemen

On behalf of the Government and people of Singapore, allow me to extend a very warm welcome to all the participants of the World Economic Forum’s 12^th East Asia Economic Summit. It is my great pleasure to join you today.

Having attended the World Economic Forum’s Annual Davos Meeting in 1998 and 2001, I am impressed by the stature and quality of the Forum’s Summits. I have found the discussions and interactions rich and stimulating. We are pleased that this regional flagship event, the East Asia Economic Summit, is back in Singapore this year after the last one held here in 1999.

Asia has progressed rapidly since then. The phenomenon of regional economic integration is fast evolving into reality. The ASEAN Summit in Bali just a few days ago saw several significant developments towards an ASEAN Economic Community, and linkages between ASEAN and North East Asia and South Asia. Business is tapping on growth opportunities opened up by new markets and technologies. There are challenges to be faced as we all cope with the global economic sluggishness, greying populations, terrorism and various socio-economic issues. The rapid emergence of ASEAN, China and South Asian economies has economic implications on the region’s trading and investment patterns, and will be topics covered in the Summit programme by highly distinguished speakers. Tonight, Prime Minister of Singapore, Mr Goh Chok Tong, will deliver a Keynote Address at the Opening Dinner.

Singapore is undergoing exciting changes to further evolve as a competitive global, diversified and entrepreneurial economy. This means that Singapore endeavours not only to be a focal point for business, innovation, enterprise and talent, but also a culturally vibrant, cosmopolitan society.

I hope that foreign visitors to Singapore for this Summit will find time to feel the pulse of this multi-faceted vibrancy, and appreciate the diversity of our business environment and our society at work and at play. However if you do not have enough time to catch a cultural performance, we have arranged for the Singapore Chinese Orchestra and our renowned calligrapher, Tan Swie Hian, to perform tonight and present a unique experience of music and calligraphy.

May I here wish all of you a highly successful Summit. Thank you and have an enjoyable lunch!

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