Islamist terrorism 'threatens Asian economies'
The rapid economic ascent of China and India is fuelling Asia’s growth, but Islamist terrorism remains a threat to stability in the region, Singapore’s leader has said.
At a business conference yesterday, Prime Minister Lee Hsien Loong also said Japan’s emergence from a decade of stagnation was a cause for optimism.
He said Singapore must take advantage of regional opportunities by pushing research and development, making it more than just an efficient production centre for multinational companies.
“We are not resting on our laurels,” Lee said.
Singapore hosts 7,000 multinational companies – mostly from the US, Europe and Japan – and 4,000 enterprises from China, India, Australia and New Zealand.
Lee warned that “one threat to Asia’s future growth and stability is Islamist terrorism”.
“The regional governments have arrested many key leaders of Jemaah Islamiyah, a terrorist group affiliated to al-Qaida. But we cannot be complacent,” he said.
“The JI may be weakened, but they remain a dangerous threat, with fanatical and skilled terrorists still on the loose, in touch with one another and eager to die for their cause.”
He said maritime security, especially in the Strait of Malacca – a key international shipping lane – was a vital concern.
“The recent ’Eyes-in-the-Sky’ initiative by Indonesia, Malaysia, Singapore and Thailand to patrol the Malacca Straits jointly using maritime patrol aircraft is one example of what we are doing together to enhance the safety and security of the region,” Lee said.
Lee acknowledged that the rise in oil prices and the disruption to global energy supplies caused by Hurricane Katrina in the US have had a “dampening effect on the (Asian) region”, but said prospects were good.
“One main reason for optimism is the rapid emergence of China and India. These are twin engines fuelling Asia’s growth,” he said. “As China continues to open up its economy, it will create more opportunities for the rest of Asia and indeed the world.”
