INTRODUCTION
Working visits to Singapore are always brisk, business-like — and pleasurable. And this has been no exception. I must begin by thanking all those concerned for their unfailing graciousness and efficiency.

I met with the large Filipino community here last night; and this morning addressed the opening session of the Europe/East Asia Summit sponsored by the World Economic Forum (WEF) and the Singapore Economic Development Board (EDB).
EAST ASIA ENTERING THE ZONES OF PEACE
I spoke to them of my growing belief that the vigorous growth and increasing interdependence of our economies will soon enable East Asia to enter the world’s “zones of peace” — when our mutual security will depend no longer on arms and alliances but on mutual benefit.

I also told them of the sentiment building up — among our intellectual leaders — for Southeast Asian unification, for the enlargement of ASEAN to encompass the three Indochina states and Myanmar — to prepare our region for the increasing economic competitiveness and the strategic uncertainties that the new century might bring.

I had an early lunch with Prime Minister Goh Chok tong and members of his cabinet, during which we consulted informally on bilateral issues and regional economic concerns — particularly the implementation of AFTA, the ASEAN Free Trade Area; and the forthcoming leaders’ meeting in Indonesia of APEC, the Asia-Pacific Economic Cooperation.
ACCELERATED PACE OF ECONOMIC INTEGRATION
AFTA has just agreed to accelerate its reduction of tariff schedules within our six ASEAN countries from 15 years to 10. This key process of regional economic integration will now be completed in the year 2003 instead of 2008.

As for APEC, Prime Minister Goh and I expect the political decision to start freer trade in the Asia-Pacific region to be made at the leaders’ summit in Jakarta this November.
BACK IN BUSINESS AT THE HEART OF EAST ASIA
And I have just finished a session with top European and Asian business leaders who are here for the WEF Summit, at a luncheon organized by the Makati Business Club (MBC).

I brought them up to date on my country’s return to political stability and economic growth in the heart of the world’s fastest-growing region — and invited them to take part in our renewed drive for development that sustains itself.

I shall be meeting two more groups of key businessmen — Malaysian business leaders tonight and their Singaporean counterparts tomorrow afternoon — before I leave Singapore.
LAUNCHING THE PHILIPPINES-SINGAPORE BUSINESS COUNCIL
I shall also be launching the Philippines-Singapore Business Council; and then I have separate meetings scheduled with Malaysian and Singaporean businessmen to promote our trade, investment, and tourism.

Tomorrow, I am visiting Batam Island, to see at first hand one aspect of the Singapore-Johore-Riau-Growth Triangle (SI-JO-RI GT). As you know, we are promoting our own growth pole — encompassing Brunei, Borneo, Mindanao-Sulu and eastern Indonesia — and we have much to learn from the workings of the SI-JO-RI GT.

I leave Singapore for Jeddah in Saudi Arabia on Sunday: the work of the traveling salesman is never done.

Let me now begin taking your questions one by one.