 Your Excellency, President Ronald Reagan, Excellencies, distinguished delegates, ladies and gentlemen. On behalf of my ASEAN colleagues, and in my capacity as chairman of the ASEAN Standing Committee, I am privileged to extend to your Excellency and the members of your delegation our warm welcome to this meeting of the ASEAN Foreign Ministers here in this beautiful and memorable Isle of Bali. ASEAN treasures the warm and close relations with the United States, a closeness that we have nurtured through the years. It is in this spirit of warm friendship and mutual respect that we hope to hold this dialogue. ASEAN believes that it can further strengthen this close relationship with the United States through a frank but friendly exchange of views. We in ASEAN attach a great importance to this meeting because the success of this meeting will determine to a large extent the future course of ASEAN-U.S. relations. ASEAN also counts on the United States as a longtime friend and dialogue partner to support ASEAN's position in the Tokyo summit, the Tokyo Economic Summit, the outcome of which could greatly affect the future course of world economic policies. We view your presence here today, Mr. President, as a clear manifestation of the importance which your country attaches to ASEAN. Indeed, the strategic and economic importance of the Pacific and Southeast Asian region today cannot be discounted. And we are glad to note that the United States has continued to play a major role in maintaining peace and security in the region. ASEAN shares your view that free trade and investment are essential for growth and development. It is with this in mind that we have continued to work together to achieve economic growth. This is not to say that our economies are devoid of problems. For us developing countries, the sharpest effects of adverse world economic conditions have been most felt by us. Mr. President, the ASEAN ministers have for the past two days been deliberating on the economic issues that are to be brought to your attention. Because of time constraints, we have agreed to trim down these issues to the most essential, leaving the other items which are just as important for discussion during the annual ASEAN-US dialogue. Some of the issues to be discussed in this meeting may transcend our bilateral relations. This is because ASEAN believes that the United States, as the world's leading economic power, has the capability to influence the economic policies of other industrialized countries. The United States is in a position to initiate positive steps to alleviate the present difficulties of developing countries. Perhaps the extent of the contributions of the United States to ASEAN's economic development can be better appreciated by assessing the extent to which ASEAN-US relations have grown. During the past decade, our relations in the area of trade, investment, and economic cooperation have become more diversified and strengthened. Today, the United States is one of the top three trading partners of ASEAN and a major source of loans, investment, and technical assistance. Foreign exchange generated from these sectors has helped cushion the impact of unfavorable world economic conditions in our region. This historic propinquity can be attributed to the importance which ASEAN and the United States attach to each other. The efforts of the United States government to revive the American economy is for us a welcome development. It is for us like rain after a long drought. The health of the American economy is of major concern to us because it directly affects our economies. Mr. President, in a short while, my ASEAN colleagues and I will be discussing these issues with you in greater detail. In our view, this meeting would have served its purpose if it could effectively bring about a better understanding of ASEAN's major concerns and thereby lay the basis for a steadfast and mutually beneficial relations between ASEAN and the United States. Thank you. To your excellency, President Ronald Reagan, ASEAN has a population of 290 million people, is rich in natural resources, strategically located, politically stable, and economically healthy. ASEAN's significance should therefore become more important. The prosperity and success of the ASEAN countries have tremendous demonstration value for the principles of an open market economy is already being felt. Past experiences in Southeast Asia have shown that threats to the region could come either from outside of ASEAN, the achievement of regional resilience, through the development of national resilience of its respective members, is essential for regional stability. In 1967, the ASEAN area has developed into an area of peace and cooperation, thus refuting to overcome the problems of common concern through consultation. ASEAN is now in the process of establishing relations with outside powers in a way that would promote the establishment of peace, freedom, and prosperity in Southeast Asia. Regional harmony and economic development are therefore essential to ASEAN. It is its industries. It is fast becoming more equally in the interests of the United States to cooperate fully and effectively with ASEAN in promoting ASEAN economic and trading potentials. While developing its economy, ASEAN is presently confronted with the dramatic fall in oil, agricultural, and commodity prices. Introduced flow of foreign investments and financial resources, ASEAN urges the United States to facilitate the access of ASEAN products to the US markets. This, Mr. President. Mr. President, Vice President ASEAN foreign ministers, ladies and gentlemen, I appreciate this opportunity to discuss with you the wide range of issues that are of mutual concern to our peoples. Since coming to the presidency, I have stressed enterprise, not redistribution, as the best means of improving the economic well-being of any country. I've emphasized the importance of free people cooperating together to meet the serious challenges that are loose in the world today. Our talks then have particular relevance. Since its founding in 1967, ASEAN has been a shining example of enterprise and cooperation. It was my honor earlier to have met and conferred with President Suato. Our discussions were friendly and carried out with the mutual respect one would expect between the leaders of two great nations. I'm confident that our discussions will be in the same spirit. I mean, our discussions here. And I'm looking forward to hearing your views. You know, there's a story back in the United States about two men out in the woods on a hike. They saw a large bear coming over the hill directly toward them. And one of them sat down, took off his knapsack, reached in, got out a pair of tennis shoes and started to put them on. And the other one looked and says, you don't think that putting on those tennis shoes, you're going to be able to outrun that bear. He said, I don't have to outrun the bear. I only have to outrun you. Well, if there is a bear coming over the hill, unlike that hiker, the American people can be counted on to stick with our friends. We won't put on running shoes. Standing together, we can make certain the people of this region remain free and secure. Today, there's an ever-increasing recognition that our futures are linked in so many ways. Two ASEAN members, Thailand and the Philippines, are treaty allies. All of you are friends with whom we work closely. The United States sees ASEAN's unity and decisiveness as an example to other free people. The ASEAN collective voice of responsible international behavior has been amplified throughout the world. And I'm here to listen to you. Support for and cooperation with ASEAN is a linchpin of American Pacific policy. Nowhere has your leadership been more inspiring than in molding the world's response to the Vietnamese invasion and occupation of Cambodia. After the collapse of South Vietnam, ASEAN took a strong stand against Vietnamese expansionism. When Vietnam invaded Cambodia in 1978, you recognized the threat and acted quickly. The strength of your commitment and the direction you've provided on this vital issue have been much admired by the United States. In 1981, ASEAN organized the International Conference on Campuchia. We continue to support the basic principles for the settlement of the Cambodian situation agreed upon at that conference. The complete withdrawal of Vietnamese forces under international supervision, the restoration of Cambodian independence, sovereignty, and territorial integrity, a Cambodian government chosen in free elections under international auspices. ASEAN's efforts are consistent with American desires to bring peaceful resolution to the tragic cycle of events that has plagued the Cambodian people. We continue to believe a negotiated settlement with ASEAN is in Vietnam's interest and in the best interest of everyone in the region. We're prepared to participate constructively in a regional settlement and call upon Vietnam to answer your reasonable proposals for negotiations. The contrast between the two or between the economic conditions prevailing in Vietnam and ASEAN is striking. Their continued occupation of Cambodia is simply widening this gap each day. Cambodia is, of course, something we will discuss further this afternoon along with other issues of regional and global importance. In approaching our discussions, let me just say the United States considers itself a Pacific rim country with a heavy stake in the outcome of events in this region. The Philippines, for example, is a country with which the United States has deep and abiding ties. We hope that recent events there will increase the chances of unity through democracy and enable the Philippine people to a greater degree to join in the economic advances so apparent throughout the region. Before I left Washington, we announced a Philippine aid package to help our Filipino friends during this difficult period. This region's economic stature continues to grow. Collectively, ASEAN is now the United States' fifth largest trading partner. Our trade with you, as with all of East Asia and the Pacific, is growing faster than with any other region of the world. When this organization was founded back in 1967, our annual trade was running at less than $2 billion. In 1985, US ASEAN trade reached $23.5 billion. As you're all aware, there's growing pressure in many industrial countries to restrict trade. Well, I'm certain that you agree that any substantial cut in the commerce between nations would be an unmitigated disaster. It's only right that we're meeting prior to the 12th Economic Summit in Tokyo. One of the messages I'm bringing to the Economic Summit concerns the necessity of keeping open the avenues of world trade. This is something that the United States and ASEAN should work closely together to achieve. It is fundamental to the well-being of both our peoples. As part of my preparation for the Economic Summit, I'm also looking forward to hearing today your thoughts on issues that the summit conferees should keep in mind as concerns of the countries of ASEAN. We're pleased as a Pacific Rim partner to take your ideas to the meetings in Tokyo. Our progress has been based on freeing not restricting man's commerce, energy, and creativity. A strong commitment to the principles of freedom and independence and a fundamental trust in free enterprise and open markets have propelled ASEAN countries far beyond what others would have thought possible. The decision makers of your countries have proven their wisdom and good sense. But I have a favor to ask. I think the leaders of the developing world could use your advice. Give a man a fish, and he won't be hungry today. But teach him how to fish, and he'll never be hungry again. You can do a great service by telling others, especially those trying to improve their lot, how to follow the path of personal incentives to economic progress. I would like to mention a humanitarian issue of great personal concern to me, my administration, and the American people. It's about our men still missing in action from the Vietnam War. Vietnam's recent apparent attempt to link this last vestige of the war to other issues is a great disappointment to us. We were pleased with the evident progress over the past year. It indicated Hanoi had agreed with us that resolution of this issue was in their national interest. We appreciate all that you have done to help us on this, and we hope that Vietnam will soon resume these important talks. In closing, I would like to say the United States is proud to be a partner with ASEAN in the quest for peace, freedom, and greater prosperity. I'm looking forward to our meeting this afternoon and to the continuing close relationship between our governments and people. Thank you all, and God bless you. Thank you, Mr. President. Before we ask for a one-minute recess to enable the members of media to lead