Oleh/By		:	DATO' SERI DR. MAHATHIR BIN MOHAMAD 
Tempat/Venue 	: 	NEW DELHI, INDIA  
Tarikh/Date 	: 	20/12/96 
Tajuk/Title  	: 	THE OFFICIAL DINNER HOSTED BY HIS 
			EXCELLENCY HEGDE DEVE GOWDA PRIME 
 			MINISTER OF INDIA  


    
    1.    Let  me  first of all, thank  you,  Mr.  Prime
    Minister,  for  you warm words of welcome  and  kind
    tribute to the Government and people of Malaysia.  I
    would  also like to express my appreciation for  the
    gracious   hospitality  and  excellent  arrangements
    accorded to me, my wife and members of my delegation
    since  our arrival yesterday.  It has always been  a
    pleasure for me to be in India, since I always  feel
    that  I  am among friends here, and during  my  stay
    here,  I  look forward to seeing a bit more of  this
    great country.
    
    2.    Last month, during the Sixth Summit meeting of
    the Group of 15 in Harare, we had the opportunity to
    meet  and  discuss a wide range of issues of  common
    interest,  in  particular on ways to  draw  our  two
    countries   closer   together  through   cooperative
    endeavours.   My  visit here today  is  to  reaffirm
    Malaysia's  commitment to this spirit of South-South
    Cooperation.   We  will  have  the  opportunity   to
     explore  new  avenues to strengthen and  deepen  the
    close  bonds  of friendship and cooperation  between
    our  two countries.  Our discussion this evening has
    been  fruitful in charting the future course of  our
    relations  and  I  am happy with  your  Government's
    willingness  and  commitment to  pursue  our  common
    goals.  I am confident that together we can chart  a
    new  era of cooperative relationship, especially  in
    the economic and commercial fields, that will ensure
    progress and prosperity for our peoples.
    
    3.    In this context, I am happy to see the growing
    trend  in the trade and economic cooperation between
    our   two  countries  during  the  last  few  years.
    Bilateral trade had exceeded the one billion  dollar
    mark in 1995 and during the last nine months it  has
    exceeded   US$1.16  billion  dollars.   While   this
    impressive growth in our trade augurs well  for  the
    future,  it still constitutes a small proportion  of
     our  global  trade.  At the same time the  range  of
    goods  traded are confined to a few commodities  and
    semi manufactured items.  Much more needs to be done
    if  we  are  to realise the full potentials  of  our
    trade.   The  private sector must be  encouraged  to
    explore new range of products and establish mutually
    profitable linkages. Our chambers of commerce should
    play  a  more aggressive role to promote and  assist
    our  exporters  and  importers  in  identifying  and
    sourcing for new range of products. We have  a  long
    history of trading links and a reservoir of goodwill
    and  familiarity that can be mobilised to expand our
    trading potentials.
    
    4.    Malaysia  is following with keen interest  the
    rapid  economic  changes that are  taking  place  in
    India. The liberalisation and de-regulation exercise
    have  brought  accelerated  economic  progress   and
    transformed   the   country   into   an   attractive
    investment  centre in South Asia.   I  am  confident
     that  as  India continues to deepen and broaden  her
    reform  programmes, she will emerge as a  formidable
    economic  tiger  in  Asia.  Malaysia  welcomes   the
    opportunity  to exchange experiences  and  expertise
    with  India.   Our entrepreneurs and  investors  are
    keen  and  ready to enter into a mutually  rewarding
    partnership  with  their  Indian  counterparts,   to
    jointly   undertake   and  develop   infrastructural
    projects      such      as     highways,      power,
    telecommunications, ports and other areas  where  we
    have  the  experience and capabilities.   The  large
    private sector delegation accompanying my visit here
    is   evidence  of  their  interest  and  keeness  to
    participate in India's economic development.
    
    5.    With  globalisation and the breaking  down  of
    national barriers, it has become imperative  for  us
    to  stay competitive to ensure a place for us in the
    global  market.   Here  the  private  sector  has  a
     crucial role to play.  While the sector has been the
    main  engine  of growth domestically,  it  needs  to
    absorb new technologies and keep pace with the rapid
    development taking place in the international arena.
    Our  comparative advantage will be diminished unless
    new  technologies are efficiently absorbed  and  new
    ideas adopted.  Our private sectors must be prepared
    to form strategic alliances to maximise each other's
    comparative advantages.
    
    6.    Malaysia  and  India possess the  ability  and
    capacity  to  form  strategic linkages  particularly
    between  our  private  sectors.   Collaboration  and
    cooperation especially in the fields of science  and
    technology, software development, precision  machine
    tools  and information and aerospace technology  are
    some areas where opportunities exist for cooperation
    and  development.   Additionally, our  entrepreneurs
    should  also look beyond our respective borders  and
    explore the feasibility of teaming up to participate
     in  joint venture projects in third countries.  I am
    confident that with the existing favourable economic
    environment in Asia, Latin America and certain areas
    of  Africa,  there are tremendous opportunities  for
    our private sectors to cooperate and participate  in
    the economic development of these regions.
    
    7.     Malaysia's   own   experience   in   economic
    liberalisation,  deregulation and privatisation  has
    generated sustained economic growth for more than  a
    decade.   There  are  tremendous  opportunities  and
    possibilities for India's private sector to actively
    participate  in  our economic development.   At  the
    same  time,  India's admission as  a  full  dialogue
    partner  of ASEAN and a member of the ASEAN Regional
    Forum,  has  opened new possibilities of cooperation
    with countries in the region.  This linkage with one
    of  the most dynamic regional groupings will further
    complement  our  strong  bilateral  bond.   Malaysia
     looks   forward  to  this  new  era  of  cooperative
    relationship with India.
    
    8.    We discussed at great length in Harare, on the
    need for countries of the South to work together and
    resist    attempts   by   the   North   to    impose
    conditionalities and selectivity in the  conduct  of
    international  trade  and  investment.   Cooperation
    among the developing countries is a necessity if  we
    are to ensure that our plight and concerns are taken
    seriously.   Many issues were introduced  to  stifle
    our  economic development and I am not surprised  if
    there  will  be  many more in the future.   We  must
    therefore  maintain regular consultations and  stand
    ready  to articulate our views and concerns  at  the
    appropriate  fora.  Only through  a  consistent  and
    collective approach can we ensure our success.
    
    9.   Malaysia-India relations have survived the test
    of  time.   Given the dynamic changes globally,  the
    time is now opportune for the two countries to build
     on the existing reservoir of goodwill, understanding
    and  friendship,  an edifice of mutually  beneficial
    economic   and   commercial   linkages   that   will
    accelerate  our economic progress and  ensure  peace
    and   prosperity  for  our  peoples.   The   present
    environment  offers  tremendous  possibilities   and
    opportunities.  We should not allow it to slip by.
    
  


 
 



 
Google