00:00But for our region too in particular, the effects are being felt in the economies and every household, in our
00:10energy security, and in the daily lives of our people.
00:16Now, for too long, we assumed that the foundations of the global economy were resilient by default.
00:23That assumption has not been decisively challenged.
00:26When tensions intensify in a region as tragically vital as the Gulf, the consequences are felt far beyond the immediate
00:39theater of conflict.
00:41History reminds us of this stark clarity.
00:49The oil shocks of the 1970s were not merely episodes of energy disruption.
00:55They triggered inflation, constrained growth, and reshaped the global economic order.
01:02Yet today, the risk of more profound and pernicious.
01:09Our economies are more integrated, more digitalized, and far more dependent on uninterrupted flows than at any point in the
01:22past.
01:22The Gulf, and in particular, the states of Hormuz, remain central to global energy security.
01:32Any sustained disruption would not simply raise prices.
01:37It would reverberate across production systems, supply chains, and the daily cost of living for hundreds of millions across both
01:47advanced and developing economies.
01:50We see the disruption to energy and infrastructure bringing to bear immediate humanitarian implications with wider socio-economic consequences.
02:01They could further destabilize an already fragile environment.
02:06Now, taken together, these are not isolated case risks.
02:11They point to a wider systemic shock.
02:15One that could further unsettle markets to disrupt supply chains and strain economic stability across continents.
02:24Now, for Malaysia, this means acknowledging, too, that we are not immune to disruptions in global energy supply.
02:36We remain firmly committed to safeguarding the well-being of our people.
02:42In the immediate term, my government has taken steps to manage exposure to volatility,
02:49balancing the need to ensure adequate supply with the imperative of mitigating pressures on the cost of living.
02:58And in the long run, we must accelerate a decisive shift in our energy strategy towards more sustainable, diversified, and
03:10cost-effective sources.
03:13This is not merely an environmental necessity.
03:17It is a strategic imperative.
03:22Now, I learned of a Turkish proverb.
03:27I'm struggling.
03:29Otherwise, my friend, Edouan, said, you've been coming back and forth to Turkey.
03:34And the best said the worst of times, not a word of Turkey except...
03:42Now, the proverb.
03:46Minari yaptirmayan yerdan bitmis sanir.
03:55Reminds us that he who did not help build the minaret thinks that it merely sprouted from the ground.
04:05Now, our partnership did not emerge by chance.
04:11It is built on sustained effort and commitment to deepen cooperation.
04:17It is a profound conviction that has grown from the foundations of mutual trust, respect, and shared values.
04:28Diplomacy must therefore extend beyond governments.
04:31It must be carried forward by our institutions, our industries, and our people, so that its benefits are widely shared.
04:42Ultimately, the question before us is simple.
04:46Do we act collectively and with purpose to avert a crisis whose consequences will be felt across generations?
04:55Or do we allow short-term calculations for quick gains that would eventually lead us to long-term instability?
05:04Now, as we attempt to answer these questions, let us remind ourselves that the choices we make today
05:10will not only shape the trajectory of the conflict,
05:14but will also define the character of the global order that emerges from it.
05:22Giving peace a chance is not a mere mantra, nor can peace be handed to us on a platter.
05:30It must be built deliberately and patiently with resolve, with courage,
05:38and with an unwavering commitment to justice and human dignity.
05:43It is not sustained by silence, nor secured by force alone,
05:49but by the quiet, persistent work of those who refuse to accept that conflict is our destiny.
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