The most famous trading routes were the Silk Road and Spice Route, which served as major conduits for the flow of trade, people, ideas and religious beliefs between Asia and the Middle East. In the 14th Century, Muslim traders introduced Islam into Southeast Asia. This was three hundred years before Catholic missionaries brought Christianity. However, this flow ebbed some time in the last century or so. Due to colonialism and the Cold War, Asia and the Middle East lost their close contact with each other. Fortunately, recent global developments have re-ignited the mutual interest of countries in Asia and the Middle East in each other. The key factor is globalisation. Globalisation means that changes and events in one part of the world will impact on other parts quickly and in a variety of ways and across a broad range of areas. The international landscape post-September 11 world underscored this point dramatically. Asian countries recognise that the Middle East is an increasingly important part of the global strategic balance. Political developments in the Middle East will affect Asia, which is home to 60% of the world's Muslim population. Asian countries have therefore stepped up efforts to engage the Middle East and understand the region better. Plans by Middle Eastern countries to invest more than $ trillion in infrastructure and other developments mean plenty of opportunities for Asian countries to participate in the Middle East's growth. Happily, this interest is not one way. The Middle Eastern countries have also become more interested in Asia.
Japan is experiencing renewed vigour. Prospects for ASEAN on the whole are good, though there are occasional hiccups. Asia is integrating through trade, tourism, people-to-people exchanges, investment flows and production chains. If there are no mishaps, by 2050, half of humanity – the more than 3 billion people in Asia – will enjoy a standard of living which their grandparents did not even dream of. Naturally, Asia's growth trajectory will not be a straight line. Asia has its share of problems too – the North Korean nuclear issue, tensions across the Taiwan Straits, Kashmir and terrorism. But these issues can be and are being managed. Many countries in the Middle East are keen to engage Asia but I have been told that their businessmen are not so familiar with doing business in China and Southeast Asia. This is where Singapore can play a role. As a key financial and commercial hub, Singapore is well-positioned as a gateway for Middle East companies to expand in Asia. Middle Eastern investors can leverage on Singapore's networks and knowledge to venture into Asian markets. There is much that Asia and the Middle East can do together, as we embark on this journey of rediscovery. Although there are significant differences between Asia and the Middle East, we also share common interests and common challenges. We both want to reconcile tradition with modernity and change, to develop without losing our core values. Both Asia and the Middle East can profit by sharing experiences.