Tempat/Venue 	: 	COLONIA, URUGUAY 
Tarikh/Date 	: 	04/11/95 

           First of all, may I, Mr. President, thank you for your
    very  kind  words  of  welcome  and  the  warm reception and
    gracious hospitality accorded  to  me  and  members  of  the
    Malaysian  delegation.    I  would  also  like  to take this
    opportunity to thank you, the Government and the  people  of
    the  Oriental  Republic  of  Uruguay,  for  the very cordial
    reception and excellent hospitality extended to His  Majesty
    the  King  of  Malaysia  who  visited  your country just two
    months ago.

    2.    My visit to your country, coming  so  soon  after  the
    visit  of  His  Majesty  the King, attests to the importance
    that Malaysia attaches to the Oriental Republic of  Uruguay.
    I  am  struck not only by the natural beauty of your country
    and the warmth of its people, but also by the  dynamism  and
    vibrancy  of Uruguay's economic growth and development.  The
    Malaysian delegation has obtained a first-hand impression of
    the clear signs that  make  Uruguay  what  it  is  today,  a
    thriving   business,   financial  and  service  centre  with
    tremendous potential to become a  gateway  to  the  Southern

    3.    We   deeply  appreciate   the  emphasis  that is being
    accorded by the  Government  of  the  Oriental  Republic  of
    Uruguay  to  the  Asia-Pacific  Region,  including Malaysia.
    Your decision to establish a resident diplomatic mission  at
    Ambassadorial  level in Kuala Lumpur in December 1994 as the
    only  Uruguayan mission in South-east Asia,  is  a  concrete
    manifestation  of your country's desire to promote bilateral
    relations with Malaysia.  It was only  recently  in  January
    1988  that  we  established  diplomatic  relations with each
    other.  However, it is a matter of satisfaction that  during
    this   period,   our   bilateral   relations  have  steadily

    4.    Today,we have had the opportunity to exchange views on
    international issues of mutual concern, as well  as  on  the
    developments  taking  place in our respective regions.  Both
    countries have demonstrated our mutual commitment to  expand
    and  strengthen our bilateral relations.  The two agreements
    that were concluded a few months ago on trade and investment
    guarantee would certainly provide  the  necessary  framework
    for   the   promotion   of   bilateral  trade  and  economic
    cooperation.  I am also happy to note the  increase  in  the
    exchange  of  visits  which  have  contributed to creating a
    greater awareness of each other as well as the opportunities
    that exist for expansion of our relations.  In this  regard,
    the  private  sector  has an important and catalytic role to
    play  in  the  promotion  of  concrete  trade  and  economic
    relations. My  Government has  embarked  on certain policies
    including  privatisation  and  the   Malaysia   Incorporated
    concept  which  permit  a  useful  interaction  between  the
    Government  and  private  sector.  This  has  helped  us  to
    achieve  a  good rate of economic growth averaging about 8.5
    percent for the past 7 years.  Having set in place the legal
    instruments, efforts now should be undertaken to realise the
    full potential for expansion of our bilateral economic ties.
    We stand ready to share  our  experiences  in  privatisation
    which I believe your government is also implementing.

    5.    Mr.President, Malaysia is following with keen interest
    the  developments  that are taking place in Latin America in
    particular the Southern Cone.  We observe that  MERCOSUR  is
    making progress and taking shape.  I am convinced that there
    are  good  prospects  for Malaysia and its ASEAN partners to
    build a strategic  and  global  partnership  with  MERCOSUR.
    ASEAN  with  a  population of about 300 million and MERCOSUR
    with a combined population of 200 million can forge a useful
    partnership which can be of mutual benefit.  There are  many
    areas  of  interest  which we can look into including trade,
    investment and tourism.   We can  benefit  by  sharing  each
    other's  experiences, technological advances and specialised
    skills in certain areas which can  be  promoted  within  the
    spirit  of  South-South  Cooperation.   Already Malaysia has
    established linkages with other South  countries  especially
    with  member  countries within the framework of G-15.  These
    linkages which include the Bilateral  Payments  Arrangements
    and  SITTDEC  or  the  South Investment Trade and Technology
    Centre have proven useful in  generating  greater  bilateral
    trade as well as promoting awareness of each other.  We have
    also taken initiatives to establish direct air links between
    Malaysia,   Buenos   Aires  and  Mexico  City.    There  are
    possibilities of expansion of air routes to other  countries
    in   Latin  America.  I  am   confident  that  together both
    Malaysia and Uruguay can harness their energy and  resources
    to  promote  greater  trade and economic ties for the mutual
    benefit of the two countries and peoples.

    6.    In conclusion, Mr. President, I  would  like  to  once
    again   express  my  deepest  gratitude  for  the  excellent
    reception  and hospitality which  you  have  accorded  us. I
    look  forward  to  your  visit  to  Malaysia  in the not too
    distant  future  which  would   provide   us   yet   another
    opportunity  to  continue  our  consultations  on  issues of
    mutual interest  as  well  as  the  promotion  of  bilateral