Oleh/By		:	DATO' SERI DR. MAHATHIR BIN MOHAMAD 
Tempat/Venue 	: 	CARCOSA SERI NEGARA, KUALA LUMPUR 
Tarikh/Date 	: 	21/04/98 
Tajuk/Title  	: 	THE LAUNCHING OF THE 
			MALAYSIA-BRITISH BUSINESS COUNCIL 



         I   wish  to  thank  and  congratulate  the British
  Malaysian  Society  and  the Asian Strategy  &  Leadership
  Institute  (ASLI)  for initiating the establishment  of  a
  high-powered Malaysia-British Business Council  comprising
  15   prominent  business  leaders  on  each   side.    The
  establishment  of this business council  by  the  business
  community  of  both countries and with the active  support
  and  encouragement of the British Department  of  Trade  &
  Industry  is indeed apt and timely; apt because it  builds
  on  the solid and dependable relationship between our  two
  countries and timely because it demonstrates that  despite
  the  current  Asian economic crisis, British  business  is
  still  interested  in Malaysia.  I am confident  that  the
  Business    Council   will   further   deepen    bilateral
  partnership  between  our  two countries.   The  Malaysian
  Government  like  the  British Government  will  lend  its
  support to the Business Council and will be interested  to
  hear of its progress.
  
  2.    When  I  was recently in London for the  Asia-Europe
  Meeting  or   ASEM,  I was impressed with  the  friendship
  shown  to  Malaysia  by  the British  Government  and  the
  British  people.   The  statement by Prime  Minister  Tony
  Blair  that  Britain  is  not a fair-weathered  friend  is
  appropriate  and  appreciated.   The  statement   on   the
  financial  and  economic situation in Asia issued  at  the
  end  of  the  first  day  of ASEM recognising  the  shared
  interest  in  restoring stability, stressing  the  concern
  about  the  human cost to  the people of Asia  and  noting
  the  strong economic fundamentals of Asia as well  as  the
  need  to  curb speculation-induced instability  vindicates
  the long-held stance held by Malaysia.
  
  3.    During  ASEM, the leaders of participating countries
  noted that developments in Asian markets could lead  to  a
  drop  in investments in both directions and pledged to  do
  their best to facilitate the maintenance and expansion  of
  foreign  direct  investment.  In this regard,  I  wish  to
  reiterate  that  Malaysia welcomes  foreign   investments.
  Malaysia  has  always  adopted a pro-market,  liberal  and
  open  economic  system in which foreign  participation  in
  our  economy  is welcomed and encouraged.  In  fact,  some
  British companies have operated in Malaysia for well  over
  a  hundred  years.  Let me assure our British and  foreign
  friends  that we shall do what we can to have and maintain
  an  attractive climate for foreign investment.   We  shall
  continue  to  liberalise  our  economy  and  adopt  market
  reforms that will make us more competitive and resilient.
  
  4.    We recognise that we cannot develop Malaysia on  our
  own.   Whilst we promote self-reliance, we also know  that
  in  an interdependent, globally inter-connected world,  we
  need  to  work with foreign friends to develop our nation.
  As   such,   foreign  investors  will  find  a  hospitable
  business  environment in Malaysia.  With the  depreciation
  in  our  ringgit  and  with currency  fluctuations  having
  somewhat  stabilised, this is the right time to invest  in
  Malaysia.   I hope British members of the Malaysia-British
  Business  Council will encourage your companies to  invest
  more  in Malaysia and to get more British business to come
  here to Malaysia.
  
  5.    Besides encouraging two-way trade and investment,  I
  believe  that the Business Council can also play a  useful
  role  in  facilitating  business  partnerships  and  joint
  ventures  in third countries.  Being the fulcrum of  Asia,
  Malaysia  is  well-placed for foreign investors  to  enter
  the  Asean  market of 500 million people as  well  as  the
  China,  India  and  Middle East markets  because  of   our
  historical, cultural and religious linkages.   I  am  also
  encouraged   by  the  Business  Council's  objectives   of
  developing  opportunities for small and medium enterprises
  which are also consistent with the ASEM objectives.
  
    6.   Having achieved 40  years of independence, the time
  has  come  for Malaysians to drop our historical  baggage.
  Whilst  the past provides us with useful lessons, it  also
  gives  us both pleasant and unpleasant memories.   British
  colonial  rule  has left behind a rich tradition  for  our
  civil  service, education systems and judiciary  to  build
  upon.   Yet  at the same time, colonial rule has  deprived
  us  of  much  of  our  wealth  and  compartmentalised  our
  society through a  'divide and rule'  policy.  We are  not
  here  to pass  judgement on the British.  As I have  said,
  we  are  no  longer  interested in carrying  our  colonial
  baggage  of historical injustices.  Let us let bygones  be
  bygones.  More importantly, we should look to the  future,
  to   what we can do together to create a better future for
  our respective countries and peoples.
  
  7.    In  Malaysia, Vision 2020 provides us with a   clear
  strategic  direction of where we want to  go.   ASEAN  has
  also   adopted  its  own  Vision  2020.   And   ASEM   has
  established a vision group to develop a long-range  shared
  vision  for  Asia  and Europe.  Having a clear  vision  is
  important  as it provides a roadmap of the route  to  take
  in   the  future.  Sadly, in business, few of our business
  leaders  or corporations have a vision of where they  want
  to  be  in 10 or  20 years time.  Short-term  and  shallow
  negative  thinking  will not get us  out  of  our  current
  difficulties.   Our business community  must  be  able  to
  conceptualise and articulate a clear vision of where  they
  want  to go.  Merely depending on the Government for hand-
  outs  is  not the way to succeed.  Neither is blaming  the
  Government.   It  can be so easy to be negative,   and  to
  apportion  blame.  It is so much more difficult  to  right
  wrongs,  to  build  and to create.  Yet,  as  we  progress
  towards the new millennium,  only two years from now,   we
  must  build and create a new and better world for all  our
  people.   To  succeed,  we  need a  smart  partnership  of
  government,  business,  employees  and  foreign   friends,
  working   together to develop the nation and bring  it  to
  new  heights  of  achievement.  With close cooperation,  a
  clear  vision  and  proactive strategies,  we  can  emerge
  again  to be a regional economic powerhouse.  It  will  be
  difficult, it will take time but we will triumph finally.
  8.     In   our  efforts  to  promote  national   economic
  recovery,  I  call  on the business community  to  discard
  negative thinking.  Have confidence in the government  and
  in  our nation.  Together, we shall prevail.  And with the
  good  friends  from Britain and also from other  countries
  cooperating and working together  with us, we can  recover
  faster.
  
  9.    On  this  note,  I have pleasure  in  launching  the
  Malaysia-British  Business Council and  wish  Mr.  Patrick
  Gillam and his team every success.