Luncheon of the Canada-Singapore Business Association

And judging by the energy here today, it has certainly been worth the wait.

Many of you were there this morning when I had the pleasure of opening Canada House. It is our way to show how serious Canada is about being a player here in the hub of Asia. This established centre for finance, for transportation, for telecommunications. And a nation - like Canada - that seeks, also, to become a global crossroad for the new information economy.

My visit to Singapore comes at a time of uncertainty in the Asia Pacific region. A time when relationships and partnerships are being tested as never before in modern times. But also a time when working together is more important than ever. To restoring stability and confidence. To getting all of the Asia Pacific back on track. Moving ahead with the agenda for progress and prosperity that we have been applying together - step-by-step - throughout the post war era.

This is very much the spirit in which I have come to Singapore. To work with a pragmatic people. Whose commitment to building a better quality of life is well known around the world.

As I said earlier, Singapore has much to offer anyone wanting to do business. As nations who depend heavily on trade for our prosperity, Canada and Singapore also have a strong shared interest in promoting open markets and investment.

But we in Canada also see the potential for the kind of cooperation with Singapore that is only possible between nations who have more in common than commerce.

We have established ourselves as models to the world for how diverse races, cultures and religions can come together to live in peace and harmony. And we share a bedrock belief that government has a positive role to play in fostering national identity and promoting opportunity for our people.

Nowhere is this more clear than the value we place on education. Especially in the new knowledge economy. We are both working hard to pave an express lane for our people on the information highway. To ensure universal access to the vast new pools of knowledge and economic opportunity that are fast emerging on the Internet.

Both of us recognize the importance of education and training to allowing our young people to make the most of this new reality. And that a commitment to life-long learning is essential to keep up with the pace of change.

That is why Canada and Singapore are developing strategies that aim at being the most connected nations in the world. In Canada, we call ours Connecting Canadians.

In September, I announced Canada's new E-commerce strategy at the Softworld ‘98 show in St. Johns, Newfoundland. Where I was pleased to see such a strong delegation from Singapore. At almost the same time, Singapore came out with her own E-com strategy. Which I was delighted to see, acknowledges the special relationship with Canada on matters of information technology.

Ladies and gentlemen, this community of interests gives a compelling reason for Canada to have a higher profile here in Singapore. And why Canada wants to develop and explore new opportunities here.

We want you to get to know Canada as it really is. Not the outdated cliche of an economy simply based on resources, but the reality of a dynamic, future-oriented economy in which commodities account for only 12% of our GDP. In fact, promotion of innovation and the knowledge-based economy has been one of our government's top priorities.

Canada is number one in the G-7 in home computer, cable and telephone penetration. We are also number one in technology potential. And thanks to our innovative SchoolNet program, every one of our more than 16,000 schools and public libraries will be on the Internet by the end of this year. Making us the first G-7 nation to accomplish this. Ahead of the Americans. Ahead of the British.

We are actively promoting a world-class research capability in our universities. And cutting edge technologies are increasingly driving the Canadian economy. In information technology and telecommunications we are world leaders. We have the third-largest aerospace industry in the world. Nortel Networks, Newbridge and Bombardier - who are all here today - have global visions and a global reach. We are a source of the best in multi-media product and services. And Canadian research is pushing back the frontiers of bio-technology.

All of these qualities are a natural fit for the genius of Singapore in manufacturing, marketing and distribution. And for developing your information technology infrastructure.

More than all this, we have a secret weapon in Singapore. Our many, many friends. Ten thousand people who have lived and studied in Canada. I know there are many here who are Canadian alumni. And I know many of you are in positions of prominence and responsibility. I know that you alumni can serve as Canadian ambassadors. Spreading the good word about Canada to your friends and colleagues.

So as you can see ladies and gentlemen, Canada and Singapore have good reason for cherishing our friendship. And feeling optimistic about the potential for us to work even more closely together at this most critical time for the Asia Pacific and the world.

I will not stand here today and downplay the difficulties we all face. The challenges are serious and will take some time and serious common effort to resolve. APEC offers us a chance to build on the progress we made last year in Vancouver. Keeping up the momentum for trade liberalization and reform to financial systems.

More important, dealing with the real pain and hardship that the crisis is causing in the everyday lives of people. The pain of a mother who can no longer afford to feed her children. The pain of a student who must leave school to help support his family. The cries of the dispossessed for change. This is the human face of the crisis. And we must deal with it.

As our relationships become deeper and more mature, we must also work to remove all the barriers which hold back our people and our societies. We must accept the fact that prosperity without human progress is meaningless. That without a real commitment to good governance, openness, respect for human rights and the rule of law, human progress is frustrated. And that the freedom to express conflicting views frankly is essential to finding lasting solutions.

This is not about Western values or Eastern values. It is about universal values. It is about the kind of world in which all our people want to live in the coming century.

We will continue to speak up for and advocate these universal values of respect for human rights and the rule of law, of good governance and transparency throughout our region. For as friends and partners of a shared future, we have that obligation.

Ladies and gentlemen, Canada believes that the future of Asia is too bright, the potential too great to feel anything but optimism about a turnaround. The fundamental economic underpinnings remain strong. So does the legendary work ethic and high savings rates of Asians. This remains a region that is well motivated, highly educated and - above all - very entrepreneurial.

We are also beginning to see signs that perhaps the worst is behind us. The road to recovery will be long - and not without its bumps. But there is no denying it is the only road to take. And some countries have already begun their voyage.

We in Canada are committed to the region. And we are committed to playing a strong role in the Pacific community, in a new century of opportunity and prosperity for all our people.