Oleh/By : DATO' SERI DR. MAHATHIR BIN MOHAMAD
Tempat/Venue : BUENOS AIRES, ARGENTINA
Tarikh/Date : 03/10/97
Tajuk/Title : THE OFFICIAL DINNER HOSTED BY H.E.
PRESIDENT CARLOS MENEM, PRESIDENT
OF ARGENTINA
1. It is a great pleasure to be in Argentina again.
This is my fourth visit to this dynamic and fascinating
country. It was not so long ago that Argentina was in
the midst of a severe crisis brought on by the so-called
tequila effect. I know that you went through some
difficult times. But today, it is clear that Argentina
is once again set on a path of high economic growth.
There is much fascination in the global market place
today about Argentina and its future prospects. So Mr.
President, allow me to salute you and the people of this
great nation for your grit and determination and for your
wisdom in turning great challenges into great
opportunities.
2. I am delighted to note that since your first visit
to Malaysia in 1990 to attend the summit meeting of the
leaders of the Group of Fifteen, our relations have grown
significantly. Out trade has increased by more than 100
percent. Malaysian and Argentinean companies now invest
and participate in infrastructure and other projects in
each other's countries. More Malaysians and Argentineans
now visit each other than ever before, thanks to the air
bridge established by Malaysia's national carrier with
the strong support of your administration. Admittedly,
much more needs to be done. I am confident however that
the momentum that has been established, especially by our
private sector, will result in ever increasing tangible
benefits to both our nations.
3. As you have noted, there is also a multilateral
context to this occasion. At the initiative of
Argentina, businessmen from the ASEAN and MERCOSUR
countries met today for the first time to discuss
possible structure for future cooperation. I wish to
congratulate you, Mr. President for this timely and
important initiative to bring our businessmen together.
4. ASEAN has a population of 480 million and a GDP of
over 711 billion dollars. MERCOSUR has a population of
200 million and a combined GDP of over one trillion
dollars. Yet in 1995, our total trade was only a little
more than three billion dollars, representing just 0.4
percent of ASEAN's total trade and 0.2 percent of
MERCOSUR's total trade. Given the fact that our two
regions possess vast technological skills, highly
competitive industries, bountiful natural resources and
rich agricultural lands and increasingly prosperous
consumers, there is no reason why we cannot achieve at
least a doubling of inter-regional trade and investments
in the next few years.
5. It is worth remembering that together the ASEAN and
MERCOSUR countries produce everything from jet planes and
power turbines to meat and vegetable oil. That there is
no greater economic interaction between our two regions
is simply because we have perceived ourselves as being
too far away, too separated by historical and cultural
barriers. We have bought into the notion that there is
little money to be made in trading with and investing in
the economies of the South, despite the fact that the
north has always been trading with the South and
apparently profits from it.
6. It is time for us to awake to the new reality of our
potential as trade and business partners. It is time for
a more concerted inter-regional efforts to seek out new
opportunities and new markets in our respective regions.
We must build on the pioneering efforts of such companies
as ICTSI of the Philippines, IMPSA of Argentina, and
PETRONAS and IJM of Malaysia who have demonstrated that
there are profits to be made and opportunities to be had
in our respective regions.
7. And so I am delighted that our businessmen have
begun, at your initiative, Mr. President, to build new
bridges of economic cooperation. I have no doubt that it
will prove to be a mutually beneficial relationship. From
my many meetings with the leaders of both regions, and as
you have just heard from President Menem, I can assure
all the businessmen here today that there is strong
political commitment supporting your efforts at closer
economic interaction. And I urge you to give us feed
back as to what we can do to further assist you as you
seek to enhance business between our two regions.
8. Before I end, please allow me to thank you, on
behalf of my delegation, for your hospitality and
kindness in receiving us. I feel certain that all my
colleagues from the ASEAN countries would also want me to
express to you and to your government our appreciation
for your initiative in bringing businessmen from ASEAN
and the MERCOSUR together.
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