DOCUMENT No. 15

Remarks of the Prime Minister to the Annual Conference on BOAO Forum for Asia 24 April 2004
 

Your Excellency President Hu Jintao,
Your Excellency Chairman Bob Hawke,
Your Excellency Secretary General Long Yong tu.
Distinguished participants,
Ladies and Gentlemen

I am grateful for the opportunity to address this distinguished forum.
    
             Boao Forum for Asia has pioneered Asia's search for win‑win. The vision of a win‑win model promoted lay the forum is relevant to our common endeavours to realize peace and progress.
            
          We are living in critical times. Today we face the danger of terrorism and new regional conflicts while old disputes remain unresolved.

There are ominous tendencies of unilateralism and corresponding weakening of the United Nations system.

Globalization has had a mixed impact on societies. Along with economic benefits, we have witnessed increasing disparities and widening gap between the rich and the poor.

However, there are also auspicious signs. There is growing trend in favour of regional economic development and integration.

The theme for this year's Conference "Asia Open to the World" is particularly appropriate.

Sagacity, foresight, intuitive genius and great talent are the hallmarks of the Chinese people and their glorious and ancient civilization.

China's great transformation and spectacular economic rise is undoubtedly a source of strength and satisfaction not only to Pakistan but to the entire Asia and Pacific region.

It is, therefore, natural that China leads the way to providing peace and prosperity in Asia.

We deeply appreciate China's initiatives, through the Boao Forum for Asia, for creating synergies and building mutually beneficial economic complementarities for progress and social harmony in Asia and beyond.

We deeply admire China’s impressive progress in the recent years in modernizing its economy and improving the quality of life of its people.

I take this opportunity to congratulate China's remarkable leadership for their wise policies and the Chinese people for their dynamism and genius for hard work.

China's impressive development is exemplary and offers the best hope for the developing world in the Twenty First Century.

China's leaders have often stated that peaceful environment especially in their neighbourhood is important for China's economic development. This is indeed correct analysis. What is equally true is that economic development is also essential for peace and stability of a region.

The lesson of history is clear. Collective efforts are required to ensure that no region especially in our continent suffers economic regression and decline.

Economic integration of various regions in Asia will depend on steady economic development of all regions and countries, even if at a varying pace.

Asia searching for win‑win and open to world is indeed a beautiful theme. It signifies the high ideals espoused by this Forum, which are so close to the hearts of our peoples and so much in consonance with virtually limitless potential for making this Century into a truly Asian Century.

Asia possesses huge natural resources, has the right demography, technological and entrepreneurial excellence, an industrious work force and many shining examples of working the economic miracle.

The challenge is to work this miracle for all regions and sub‑regions of Asia.

To balance economic growth in a manner that redresses iniquities; raises living standards universally; is sustained and is fully compatible with our environment and eco‑systems.

Distinct as Asian values and culture is, so should be the Asian growth and development model.

Asia could impart to globalization a new and human dimension.

China provides a fine example. The Chinese growth model is humane and rational. The emphasis on balanced development is a watchword that has profound meaning and lessons, as we purview the global and regional economic scenarios.

The political, cultural and economic variants of globalization are shaping the international society.

Driven by technology and liberal economics, globalization is a reality. It offers opportunities and challenges.

Excellencies, 

Ladies and Gentlemen,

Global economic situation is marked by uncertainty. In recent years there has been a stalling of growth in some of the biggest economies of the world. The recovery has been faint and rather delicate.

Conventional economic theories have failed to provide answers to 21^st Century economic dilemmas.

Vast regions in the southern hemisphere have not been able to connect effectively to a fast globalizing world on terms that are just and equitable.

Debt burden, burgeoning deficits; recipes of structural adjustment; exploitation of primary producers; unjust terms of trade and strong impulse of protectionism characterize the turbulence on the economic horizons.

Globalization must be managed to maximize dividends and minimize its hazards, especially for the poor and the already marginalized segments of the international society.

It must be harmonized ‑ given a human face. It must not destroy our natural environment nor plurality and cultural diversity.

These thoughts pose huge philosophical challenges. These questions must be deliberated, if mankind is to avoid the perpetual cycle of strife and social turmoil.

Political realities continue to impact on the macroeconomic scenario. Of utmost concern is the globalization of terror, unresolved crises in Iraq, Afghanistan and the Korean Peninsula as well as the longstanding questions of occupation of Palestine and Kashmir.

Compounding these problems is the perceptional divide between different civilizations and the doom sayers chant of a clash of civilizations.

Unsettling as this may be, we in Asia cannot eschew our responsibility to isolate ourselves from contagion of greed, violence and hate.

We can do so by resurrecting and basing our actions on our authentic Asian values and traditions. These values are a true civilizational accomplishment. They harmoniously blend nature, man and his environment.

The theme of balance must pervade our political, economic and social ethos.

We must also begin by bringing to a closure political problems and disputes in the greater Asian neighbourhood.

We must focus on the marginalized sub‑regions of Asia to lift them from the quagmire of poverty and deprivation.

We must impart to our peoples a sense of dignity and provide to them equal opportunities to utilize their creative potential for the common good of humanity.

An Asian Century must not be as were the past centuries a tale of wars of greed, hate and exploitation. It must be imbued with higher spiritual values, so characteristic of Asian societies.

Asia can demonstrate to the world a unique growth model that this Forum is well endowed to delineate.

We are heartened by the processes of the regional and sub‑regional economic cooperation in Asia.

Bali Concord‑11 has put ASEAN on the course of emerging as a harmonious economic, security and cultural community.

North. East Asia is vibrant and dynamic.

Preferential tariff and free trade regimes are shaping up fast.

A new emphasis on inter‑regional cooperation is gaining momentum.

Shanghai Cooperation Organization and establishment of the Asian Cooperation Dialogue are among the projects that could change the economic and political landscape of Asia.

To realize Asia's full economic potential, we must impart growth and development dynamics to the vast regions of Central, West and South Asia.

These huge resource rich zones and large markets have not yet fully been integrated into a holistic Asian development paradigm.

Integrating resources and markets by injecting entrepreneurial skills and talents and requisite technological upgrades would create synergies that will make Asia peaceful and prosperous.

1 would suggest that the Boao Forum must initiate special efforts to identify and develop economic complementarities between the sub‑regions of ASIA,

'Economic Vision Asia, must be pursued with full vigour.

The Boao Forum must take the lead in forging an Asian consensus on Development through Cooperation. For this purpose, we need to:

-                open multiple channels and employ multiple means to deepen and broaden cooperation.

-                forge Asian unity.

-                move towards production of good quality products­.

-                work together to ensure optimal synergy, in particular with smaller Asian countries.

-                actively pursue structural reforms, boost cooperation and improve business environment.

-                strengthen the concept of co‑production of products.

It is also important to more towards mechanisms and modalities for cooperation.

                A Pan Asia Forum encompassing all regions and sub‑regions of Asia

must evolve form this cooperative endeavour.

An Asian cosmos with its own institutions and coordinating mechanisms to ensure prosperity and peace for our continent as a whole.

Asia must develop harmoniously. It must remain open to the world. It must act together through consultation and coordination to rectify distortions and difficulties in the global economy.

ASEM and APEC provide avenues to link Asia with Europe and the Americas. These processes must be further developed and made more comprehensive and effective.

Asia has to look with confidence to emerging as an important factor of growth and stability for the global economy. This is a role, which naturally devolves with Asia's phenomenal growth and development.

The establishment of a Pan Asian Forum will go a long way in providing the mechanisms for effective cooperation and coordination by Asian economies with global economy as a whole.

China borders major regions of Asia. Strength of its economy has been a factor of stability and support for Asian Pacific economies.

We are confident that China will play an equally important role for promoting development of the Central and South Asia through investments and growth of trade through a web of co‑production arrangements.

China and other Asia Pacific countries, with the strength of their reserves and surplus capital must lead this process.

Pakistan is proud of its time‑tested all weather friendship with China. We are working to building a synergy between our economies and to benefit mutually from the tremendous efforts now underway in development of Western China and the bordering regions in Pakistan.

We are moving from preferential tariffs towards a free trade arrangement. Pakistan is developing China specific industrial zones. We look forward to developing a vibrant partnership between the private sectors of our two countries.

Ladies and Gentlemen,

Pakistan is promoting regional cooperation in South Asia.

The SAAR Summit held in Islamabad in January 2004 was a great success.

An agreement on establishing South Asia Free Trade Area was signed. SAFTA is a significant milestone towards mutually beneficial economic cooperation in South Asia.

It will bring to fore the huge market potential of South Asia, which if properly connected to the energy rich Central and West Asia, and the fast developing East Asia would make Asia a global economic pole.

As Chairman of SAARC, Pakistan has placed special emphasis on consolidation of intra‑regional cooperation in SAARC and to the development of inter‑regional cooperation, especially between SAARC and ASEAN, SCO, ECO and GCC.

Pakistan has actively promoted the concept of inter‑regional cooperation in Energy and infrastructure. Our proposal for developing the modality of dialogue partnership between SAARC and important regional entities and bodies was also approved.

The SAARC Summit also endorsed our proposal for the South Asia Energy Ring and development of requisite infrastructure including transportation and communication links.

Pakistan is well situated to becoming a commercial hub linking the important regions of South, Central and West Asia. Development of the Gwadar Port with Chinese assistance and improvement of road and rail infrastructure in western Pakistan will alter the economic landscape of the whole region.

Our vision East Asia envisages developing a comprehensive partnership for peace and development with South and North East Asia.

Pakistan wishes to associate itself closely with all cooperative enterprises, and endeavours in the greater Asia‑Pacific region including ASEAN, ASEM, APEC and the Shanghai Cooperation Organization.

Our national priority is domestic reforms, economic stability and modernization. Our aim is to build a strong, prosperous and democratic Pakistan, which stands fully integrated with the rest of the world.

We have achieved macroeconomic stability. The GDP growth rate is currently 5.5% and is expected to range around 7% in the next few years. Pakistan is attracting increasing foreign investment. Presence of more than 600 foreign companies including well known multinationals, testify to the credentials of Pakistan as a safe and profitable destination for investment. The corporate profitability, on average, ranges from 16 to 60 percent.

Pakistan offers a secure and favourable environment to investors in the fields of information technology, agriculture, textiles, oil and gas, chemicals and financial business. Pakistan is also an excellent base for supplying a wide range of goods and services to the new markets of Central Asian Republics as well as Afghanistan.

Service, infrastructure and agriculture sectors are also open for foreign investment. In service and agriculture sectors 100% foreign equity is allowed. There is complete freedom of choice regarding location of activities and full repatriation of capital, profits and dividends. Generous fiscal and tax concessions are also available.

We have created a propitious environment for promotion of growth and investment. I invite you all to participate in our development efforts.

Ladies and Gentlemen,

1 wish to thank the organizers of this Forum and the people and the government of this beautiful Hainan Province for the warm reception and generous hospitality extended to me and my delegation.

I wish to thank you, once again, for enabling me to share my thoughts with you. I wish this Forum every success in its important deliberations.

Thank you. 

Source: Text Obtained from Pakistan Foreign Office