Allow me at the outset, Sir, to congratulate you on your election as President of the fifty-second session of the General Assembly. We have no doubt that under your able stewardship this session will successfully address the many and complex issues confronting the Assembly and the Organization. May I take this opportunity to pay tribute to your predecessor, Ambassador Razali Ismail, and to say how proud we Malaysians are of the manner in which he guided the work of the fifty-first session of the General Assembly. Malaysia is honoured by the opportunity given him to serve this Assembly and is deeply grateful for the support he received from Member States, the Secretariat and other members of the international community in the discharge of his duties. I would also like to acknowledge the tireless efforts of the Secretary-General, Mr. Kofi Annan, who since assuming office less than nine months ago has swiftly begun to energize and revitalize this Organization through his proposals for change and reform. We wish him every success in these efforts, for which we extend our full cooperation and support. The general debate of this Assembly is the only truly universal forum where leaders representing diverse sovereign countries and their peoples are able to articulate very freely their views, without fear or favour. Given the monopoly of international information and communication by vested interests, the value of this Assembly as a forum for the free expression of differing views by leaders representing the sovereign Member States cannot be overstated. As an annual debate which serves the purpose of bringing to the attention of the international community the priority issues of concern to sovereign Member States, it cannot be replaced. Today, I am privileged to have the benefit of this forum to share with Members the priority issues of concern to Malaysia. Let me begin with a matter of immediate concern to us and to a number of other Association of South-East Asian Nations (ASEAN) countries, which experienced the severe effects of the turmoil in currency and stock markets in recent weeks. Stock prices plunged while our national currencies depreciated, exacting a heavy toll on economic growth and development. The sequence of events did not take place as a result of war, conflict, natural disaster or mismanagement. It was precipitated by currency speculators - indeed, manipulators - who, driven by sheer greed, took advantage of the vulnerabilities of developing economies, especially the fragility of their nascent financial markets. What happened in South-East Asia could, of course, occur in other parts of the world which are increasingly dependent on capital flows for economic growth. Such rampant speculation or manipulation of hedge funds in the currency and equity markets of developing countries, at a time when they are still feeling their way in a world of fierce global competition, would trigger off a defensive reflex on the part of the affected countries, thereby arousing anti-liberalization, which would be detrimental to free trade. In an interdependent world, the currency crisis in South-East Asia warrants the prompt action of the multilateral financial institutions, such as the World Bank and the International Monetary Fund, and the developed countries, which should assist the affected economies of East Asia in overcoming the effects of this excessive manipulation and in preventing its recurrence. Their positive response in this regard is especially important in order to maintain the developed countries’ continued commitment to, and confidence in, globalization, on which so much of international free trade depends. Threats to the well-being of States take many forms and can come from within as well as from outside. These threats, including the notion of erosion of sovereignty, have been facilitated by the advent of technology. The Secretary-General alluded to this development in his report on the work of this Organization, where he recognized that the same technological means that foster globalization and the transnational expansion of civil society also provide the infrastructure for expanding global networks of “uncivil society” - organized crime, drug-traffickers, money-launderers and terrorists. We live in a time when it has become fashionable, in some quarters, to distinguish between the security of a State and individual security, especially in the context of developing regions of the world. The perception has been created that the concept of security of the State is somehow inimical to the rights of the individual in the developing world, and this has been highlighted in the context of human rights. The elevation of the importance of human rights in the international agenda, a most welcome development, has been exploited and politicized for narrow self-serving interests and specific political 10 agendas. If our interest is to heap scorn and to indulge in double standards, selectivity and mutual recrimination, the noble cause of promoting the universal value of human rights is bound to suffer. Blatant violations of human rights — whether in Bosnia and Herzegovina, occupied territories of the Arabs and Palestinians or in other parts of the world — must be condemned and prevented, and not have a blind eye turned to them, if the United Nations is to play an effective role in promoting and protecting these rights. As we commemorate the fiftieth anniversary of the Universal Declaration of Human Rights in 1998, consideration needs to be given to a review of relevant human rights documents and their applications. We must rededicate ourselves to the need for a balanced approach to all aspects of human rights — civil, political, social, economic and cultural. Selective interpretation or application of human rights will not only demean their value but, more seriously, undermine the well-being of individuals in parts of the world that are still engulfed by age-old hatreds and animosities. We should reiterate our recognition of cultural peculiarities, which is an inherent and timeless characteristic of human society. We should assert that there is no intrinsic contradiction between the rights of the individual and those of the community. Individual rights do not exist in a vacuum. Indeed, individual and community rights are not mutually exclusive; they thrive on the basis of a mutually reinforcing and balanced relationship. As one reinforces the other, there should be no artificial separation between the two by stressing the importance of one at the expense of the other. Malaysia welcomes the appointment of Mrs. Mary Robinson, former President of Ireland, as the new High Commissioner for Human Rights, and hopes that, together with the United Nations Secretary-General, she will be able to improve the United Nations human rights machinery and role, including the depoliticization of human rights and the timely and full implementation of the right to development. The United Nations remains, as the Secretary-General has put it, “the only institution that has the breadth of mandate to address the root causes of instability and conflict and to pursue in a comprehensive and integrated manner the wide array of economic, social and environmental issues impinging on development.” (A/51/950, para. 128) We must therefore be wary of those seeking to exploit specific issues designed to marginalize the Organization. More than 50 years after its creation, the pre-eminence of the United Nations in multilateral issues can no longer be taken for granted, despite its universal membership and broad mandates dealing with all issues of peace, security, disarmament and development. The commitment of the United Nations to development remains its most significant role. While the Organization’s forays into peacekeeping make all the headlines, it is its work in development, in terms of resources generated and the changes made in peoples’ lives, that is most vital and meaningful to Member States. It has become clear that while the eradication of poverty and the enhancement of development are the responsibilities of individual States, the United Nations system has a key conceptual and promotional role to play. The ultimate objective — to secure the development of developing countries — remains the same. We need to constantly re-examine the means by which to attain this goal. The United Nations must strongly project the need for higher levels of growth, accelerated development, and equitable geographical distribution of growth. In this context, we need to ensure that our approach to development takes into account the economic, political and technological realities of our time, especially the increasing influence of the private sector. Regrettably, resources made available for development have declined substantially in recent years, adversely affecting the various United Nations programmes and agencies concerned. Culpability must rest with those who had promised to assist but failed to deliver. In the light of such a disappointing let-down, the United Nations should explore the possibilities for closer cooperation with other stakeholders, particularly the corporate sectors. With their vast resources, expertise, financial clout and extensive global networking, those in the private sector should be welcomed as partners to operationalize certain aspects of sustainable development. They could, for example, provide assistance on environmentally sound technologies where Governments have left a void. The United Nations should ensure that it involves the private sector from all over the world. However, it must also ensure that it will not be dominated by the interests of the 11 business community, by holding the corporate actors accountable. The United Nations must continue to be a democratic institution, accountable to all its Members. Unfortunately, this cornerstone of the Organization continues to be assailed by those still bent on the quest for geopolitical dominance. In an increasingly unipolar world it is imperative that the United Nations preserve its independence or autonomy and decide in the interests of all Member States, not just those of a particular Member State or group of States. The process of the democratization of the United Nations is particularly important in the context of the reform of the Organization, especially that of the Security Council, which is long overdue. Malaysia supports an early resolution of the issue. Ambassador Razali Ismail, in his capacity as President of the fifty-first session of the General Assembly and as Chairman of the high-level working group on the reform and restructuring of the Security Council, tried his best to move the process forward. Concerted efforts must continue to be made to ensure that, since the Council’s permanent members cannot be abolished, its continued existence must reflect current realities, in particular the significant role of the developing countries in international affairs. At the same time, as a matter of principle, there should be no discrimination or differentiation between the old and the new permanent members. If reform of the Council is to be truly comprehensive and consistent with the spirit and realities of our time, then we must seek to remove — or at least, as a first step, restrict — the use of the veto power. Democracy in the United Nations is a mockery if the voice of the majority is rendered meaningless by the narrow interests of a dominant few. Malaysia believes that genuine global peace and security and the survival of mankind can only be assured in a world free of weapons of mass destruction. Therefore, disarmament, particularly nuclear disarmament, remains a foremost priority of the global community, and we urge the Secretary-General to reaffirm his support — notwithstanding his preoccupation with certain aspects of proliferation issues, particularly small arms. We are deeply concerned over the trend in some quarters to ignore the need to stop vertical proliferation. We urge the international community to expedite efforts to achieve the total elimination of nuclear weapons, to be formalized in a nuclear weapons convention. We hope that the new and reconstituted Department of Disarmament and Arms Regulation will place as high a priority on disarmament as it does on proliferation of weapons and arms regulation. For its part, like a number of other regional groups, has positively contributed to the disarmament process by bringing into force the South- East Asia Nuclear-Weapon-Free Zone, which still awaits the support of the nuclear-weapon States. While we stress the importance of non-proliferation, real progress in disarmament will only be achieved by addressing the issue in all its aspects. While nations that aspire to become nuclear Powers should disavow their intentions, the declared nuclear Powers, which are also the world’s largest arms traders, should also embark on the road towards general and complete disarmament. In this regard, we laud the global initiative to ban landmines, and call on the producers of these mines to help defray demining and rehabilitation costs in the affected countries. International peace and security continues to be threatened by the deteriorating situation in the Middle East following the waning of the peace initiative in the Middle East. Mutual distrust has replaced the synergy for peace as the modus operandi between Israel and the Palestinian Authority. Malaysia supports the call for the immediate resumption of peace talks and affirms its support for the Palestinian people and their inalienable right to self-determination. We urge the international community to persuade or pressure Israel to honour its part of the Oslo accords by lifting the ban on Palestinian cities and towns, and to give up its intention to build settlements in what are occupied territories. We are further alarmed by Israel’s decision to build a dam in the occupied Golan Heights. We view this as a deliberate act of provocation and bad faith, and question its sincerity in seeking genuine and enduring peace with its Arab neighbours. In the meantime, the international community should continue to provide the necessary financial support to ameliorate the plight of the Palestinians — for example, through the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), to which my Government has made its modest contribution over the years, in addition to our own bilateral assistance to Palestine. It is important that UNWRA be provided with adequate resources to fully implement its programmes and activities. We remain seriously concerned over the situation in Bosnia and Herzegovina. Obstacles continue to impede 12 the full implementation of the Dayton peace accord. Further, mutual mistrust and animosity among the different ethnic groups cast doubts over the future of the country. It is our fear that the withdrawal of the international forces from that country could trigger a new wave of violence and bloodshed. This fear is real, particularly since indicted war criminals, who should have been removed from the scene long ago, are still at large and exercising power and influence. Malaysia believes that creating an environment of trust and understanding among the peoples of Bosnia and Herzegovina is a priority. The international community should make efforts to promote goodwill among the Bosnians and encourage them to live in peace and harmony. One such initiative could take the form of informal round- table conferences, participated in by Bosnians of all ethnic origins, representing the different sectors of society and professions, including academia, and participants from other countries, to discuss all issues of ethnic relations with the view to enhancing understanding and cooperation among them. It is my hope that from this effort will emerge a sizeable group of leaders from various professions, acting as catalysts for the promotion of goodwill and cooperation among the ethnic groups in Bosnia and Herzegovina. Malaysia is prepared to work with like-minded countries to help realize this idea. We have to ensure that peace and stability endure in Bosnia and Herzegovina and that we contribute in the efforts towards its early reconstruction. At the same time, we must all work to bring justice back to the Balkan region by ensuring that just retribution is meted out to those who participated in some of the worst atrocities of this century. As we approach the twenty-first century, our energies and preoccupation must centre on building and strengthening peace and prosperity. Peace and security are two sides of the same coin: peace nurtures prosperity, while prosperity reinforces peace. Peace at the national level is sustained through democracy, good governance and close collaboration between the different segments of society. Malaysia, a multiracial and multi-religious society, which less than a month ago observed its fortieth anniversary, has been blessed with peace and prosperity. While this may partly be due to fortuitous circumstances, a lot of it has to do with an effective leadership and a people determined to improve their lot. It is fortunate that we have been able to rule the country by the process of the ballot and not the bullet, with regular free and fair elections and with the different races accommodating and sharing power on the basis of democratic principles. By engendering social and racial harmony based on a political compact, we have been spared many of the traumas experienced by less fortunate countries and we were thus able to achieve our development goals in relative peace and tranquillity. I am happy to say that we have been able to share some of our experience in nation- building with a number of our friends in the developing world. In spite of the many criticisms levelled at the United Nations — some of them not entirely justified — this much maligned Organization of ours has remained steadfast in its mission to serve the international community, even as its resources have been dwindling in recent years. Clearly, in an ever-changing world that is growing more complex and increasingly unipolar, the United Nations has served as a pillar of international order. Serving as the collective conscience of humanity and the arbiter of its conflicts, the Organization, despite its deficiencies, has functioned as an indispensable norm- making and institution-creating instrument of international relations. In my view the process of United Nations bashing has gone on far too long. While the introspection that followed was inevitable and has had a sobering effect on the Organization, it is time for us to pick up the pieces and allow the Organization to get on with its mission. For this purpose, the Secretary-General has put forward a comprehensive package of reform proposals for which he must be given a lot of credit. Obviously, such a wide- ranging package by its very nature cannot please every one of the 185 Members of the Organization. The Secretary-General has attempted to put together proposals and strategies that are intended to secure the broadest support from Member States predicated on a slate of shared common goals. Malaysia is supportive of the general thrusts of the Secretary-General’s package of reform proposals. Many of the highlights of these proposals are indeed interesting and deserve our serious consideration. We support the Cabinet-style management approach that the Secretary- General is introducing, revolving around the Senior Management Group, as well as his proposal to create the post of Deputy Secretary-General. We hope that the Deputy Secretary-General will not only assist an already overburdened Secretary-General in the management of the Secretariat, but would also have substantive responsibility 13 in overseeing the core area of development which is dear to the hearts of developing countries. Malaysia also welcomes the measures being taken to increase and improve coordination between United Nations Headquarters and its field operations. We also support the rationalization of the work of the Organization involving the reconstitution or amalgamation of the various departments aimed at consolidating and integrating their work so as to enhance their effectiveness and efficiency. We trust that in carrying out the reorganization exercise, the Secretary-General will be guided by the need to ensure that the changes will benefit all of the Member States, particularly those in the developing world. My delegation will take an active part in the detailed discussion of the Secretary-General’s reform proposals in any format that will be agreed upon by Member States which will facilitate their implementation at an early date. In carrying out these reforms, however, we should not lose sight of the importance of the financial health of the Organization, which has been highlighted by the Secretary- General himself. The proposed revolving credit fund is a welcome measure insofar as it provides financial solvency in the short term. But it is unfair and unethical that the rest of the world is held to ransom by the few who disregard international treaties and agreements and Charter provisions for the sake of their narrow national interests. We join the Secretary-General in urging Member States to work towards the speedy resolution of the financial crisis of the United Nations by fulfilling their financial obligations towards the Organization.