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.