Oleh/By : DATO' SERI DR. MAHATHIR BIN MOHAMAD
Tempat/Venue : SARAJEVO
Tarikh/Date : 19/04/96
Tajuk/Title : THE BOSNIA-HERZEGOVINA - MALAYSIA
BUSINESS MEETING
1. Amidst all the hardship and tragic circumstance
in Bosnia and Herzegovina today, I am indeed
encouraged by the enthusiasm and cordiality
prevailing at this meeting of peoples from our two
countries. I welcome this opportunity to address
the business communities of both our countries.
This meeting which is aimed at providing an informal
forum for the meeting of minds between the
businessmen of Bosnia-Herzegovina and Malaysia
should explore ways and means of cooperating in the
reconstruction of this ravaged country.
2. It is our belief that economic recovery and
growth is the most effective way of guaranteeing
social and political stability and the longer term
prosperity of Bosnia-Herzegovina. Therefore, this
gathering has been organised with the specific aim
of identifying areas of cooperation between Bosnia-
Herzegovina and Malaysia, to enable the private
sectors of our two countries to begin the process of
reconstruction of Bosnia-Herzegovina, together. I
hope to see this task started without delay.
3. To me, the relationship between the peoples of
Bosnia-Herzegovina and Malaysia is a very special
one. While Malaysia may be far away we cannot help
but be moved by the bravery of your people in the
face of overwhelming odds, particularly as the world
deprived you of your basic rights to defend
yourself. While our common religion may be a factor,
it is also the gross injustice that moved us. And
so we have stretched out our hands of friendship for
we understood the loneliness of days of trial. Now
is the time for the reconstruction of your country
and we would like to be of some help. The
Malaysian private sector is here today in response
to the call of the government, to stand shoulder to
shoulder with their Bosnian counterparts and the
international community, to help put Bosnia-
Herzegovina back on the path to economic recovery.
4. Malaysia would like to go beyond symbolic
gestures, and earnestly contribute to the rebuilding
of Bosnia- Herzegovina in areas which are within our
expertise and capability. It is our conviction that
in addition to humanitarian assistance, we should
focus on practical areas of social development that
will immediately help alleviate the hardships of the
people and lay the groundwork for sustained economic
recovery. We understand that agencies of the United
Nations will be involved in the restoration of water
supply, electricity, housing, education,
telecommunications and road building. But we would
like to play a role here. In addition, we will look
into housing and the rehabilitation of industries in
which we may have some expertise.
5. It has now been estimated that up to 65 percent
of the industrial capacity in Bosnia and Herzegovina
has been destroyed, resulting in shortages of basic
necessities like food, clothing, medicine and
construction materials. In this respect the
Malaysian private sector should explore the
possibility of establishing depots in Bosnia-
Herzegovina for the distribution of essential goods.
As a longer term measure, the business community of
our two countries should make attempts to identify
and evaluate the possibility of rejuvenating
industries to supply the basic needs of the people.
6. Malaysia, which also has a federal system of
government, subscribes to the same ideals of a multi-
ethnic society as Bosnia-Herzegovina. We are
prepared to share our experiences in institutional
and community rebuilding, which can be a critical
component in the process of recovery and economic
development of the new Bosnia and Herzegovina
Federation. We are also prepared to share our
expertise and to train Bosnian technical staff and
administrators in important skills in nation
building, which may be in short supply in Bosnia-
Herzegovina today. Malaysia can also impart its
experience in privatisation, foreign investment
legislation and economic development planning
through the exchange of senior officials and their
attachment to various agencies for training in
Malaysia.
7. We note with great admiration the
resourcefulness of the Bosnian people and the speed
at which you have begun the monumental task of
rebuilding your lives and your country. There are
clear indications that the spirit of self-help that
is driving economic life in the major urban centres,
has also brought about macroeconomic stabilisation
since 1994 and recovery of output since the spring
of 1995. These developments give hope for the
future. The government on its part is laying the
groundwork for a legal institutional framework to
promote economic efficiency, private enterprise and
privatisation. I am confident that, given its
strong human capital base and increasingly pro-
business policies, Bosnia-Herzegovina with the
support of the international community will soon re-
emerge as a successful economy.
8. Bosnia-Herzegovina has a strong entrepreneurial
tradition, supported by well-trained and skilled
workforce, which should facilitate the recovery of
the manufacturing and mining sectors in the country.
This sector, I believe, accounted for about 50
percent of GDP. Employment generation therefore
hinges on the rehabilitation of these two sectors.
These industries need infusion of new capital to get
them restarted. The Malaysian business community
should take up this challenge to participate in the
rehabilitation of the manufacturing and mining
sectors of Bosnia-Herzegovina. The industries that
have been identified by the Bosnian-Herzegovina
government for rehabilitation are timber-based
products, metal products, agro-industries, textiles,
construction materials, shoes, chemicals,
automobiles and carpets. With the enhancement in
productive capability and availability of relatively
competitive labour, Bosnian industries should be
able to regain their markets.
9. I sincerely believe that in the course of
reconstruction, large sectors of the economy will be
privatised. Given the scarcity of resources and the
urgency of reconstruction, it is inevitable that the
task of reconstruction will eventually be private-
sector led. Malaysian companies experienced in
handling privatised government agencies may find
interesting opportunities should the Government of
Bosnia-Herzegovina turn to private companies for the
reconstruction work.
10. The amount of resources required for the
initial reconstruction of Bosnia-Herzegovina is
estimated at US $5.1 billion. Thus far, the amount
committed by international donors falls far short of
the sum required. The international community
should fulfil its obligations to assist Bosnia lay
the social and economic foundations without delay.
Continued peace and stability in Bosnia-Herzegovina
hinges on the speed with which these commitments are
realised. I urge the international community to
urgently address this issue which is essential to
the economic recovery of Bosnia- Herzegovina.
11. I am confident that the resilience and spirit
of self-help that is evident everywhere will sustain
the present momentum of economic recovery in Bosnia-
Herzegovina. Malaysia will focus its reconstruction
efforts on helping Bosnians help themselves while
also contributing to social and economic recovery.
We see many areas for such cooperation. I am
encouraged by the news that some joint venture
projects between our private sectors are already in
the pipeline. I am confident that many more such
ventures which are mutually beneficial will take off
as a result of this meeting.
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