PRESIDENT OBAMA: Well, good afternoon. Selamat petang. Please, everybody have a seat. It is wonderful to be here and it is wonderful to see all these outstanding young people here.

I want to thank, first of all, the University of Malaya for hosting us. I want to thank the Malaysian people for making us feel so welcome. Anita, thank you for helping to moderate.

These trips are usually all business for me, but every once in a while I want to have some fun, so I try to hold an event like this where I get to hear directly from young people like you -- because I firmly believe that you will shape the future of your countries and the future of this region. And I'm glad to see so many students who are here today, including young people from across Southeast Asia. And I know some of you are joining us online and through social media, and you’ll be able to ask me questions, too.

This is my fifth trip to Asia as President, and I plan to be back again later this year -- not just because I like the sights and the food, although I do, but because a few years ago I made a deliberate and strategic decision as President of the United States that America will play a larger, more comprehensive role in this region’s future.

I know some still ask what this strategy is all about. So before I answer your questions, I just want to answer that one question -- why Asia is so important to America, and why Southeast Asia has been a particular focus, and finally, why I believe that young people like you have to be the ones who lead us forward.

Many of you know this part of the world has special meaning for me. I was born in Hawaii, right in the middle of the Pacific. I lived in Indonesia as a boy. (Applause.) Hey! There’s the Indonesian contingent. (Applause.) Yes, that’s where they’re from. My sister, Maya, was born in Jakarta. She’s married to a man whose parents were born here -- my brother-in-law’s father in Sandakan, and his mom in Kudat. (Applause.) And my mother spent years working in the villages of Southeast Asia, helping women buy sewing machines or gain an education so that they could better earn a living.

And as I mentioned last night to His Majesty the King, and the Prime Minister, I’m very grateful for the Islamic Arts Museum Malaysia for hosting an exhibit that showcased some of my mother’s batik collection, because it meant a lot to her and it's part of the connection that I felt and I continue to feel to this region.

So the Asia Pacific, with its rich cultures and beautiful traditions and vibrant society -- that's all part of who I am. It helped shape how I see the world. And it's also helped to shape my approach as President.

And while our government, our financial centers, many of our traditions began along the Atlantic Coast, America has always been a Pacific nation, as well. Our biggest, most populous state is on the Pacific Coast. And for generations, waves of immigrants from all over Asia -- from different countries and races and religions -- have come to America and contributed to our success.

From our earliest years, when our first President, George Washington, sent a trade mission to China, through last year, when the aircraft carrier that bears his name, the George Washington, helped with typhoon relief in the Philippines, America has always had a history with Asia. And we’ve got a future with Asia. This is the world’s fastest-growing region. Over the next five years, nearly half of all economic growth outside the United States is projected to come from right here in Asia.

That means this region is vital to creating jobs and opportunity not only for yourselves but also for the American people. And any serious leader in America recognizes that fact. And because you're home to more than half of humanity, Asia will largely define the contours of the century ahead -- whether it’s going to be marked by conflict or cooperation; by human suffering or human progress. This is why America has refocused our attention on the vast potential of the Asia Pacific region.

My country has come through a decade in which we fought two wars and an economic crisis that hurt us badly -- along with countries all over the globe. But we’ve now ended the war in Iraq; our war in Afghanistan will end this year. Our businesses are steadily creating new jobs. And we’ve begun addressing the challenges that have weighed down our economy for too long -- reforming our health care and financial systems, raising standards in our schools, building a clean energy economy, cutting our fiscal deficits by more than half since I took office.

Though we’ve been busy at home, the crisis still confronts us in other parts of the world from the Middle East to Ukraine. But I want to be very clear. Let me be clear about this, because some people have wondered whether because of what happens in Ukraine or what happens in the Middle East, whether this will sideline our strategy -- it has not. We are focused and we’re going to follow through on our interest in promoting a strong U.S.-Asia relationship.

America has responsibilities all around the world, and we’re glad to embrace those responsibilities. And, yes, sometimes we have a political system of our own and it can be easy to lose sight of the long view. But we have been moving forward on our rebalance to this part of the world by opening ties of commerce and negotiating our most ambitious trade agreement; by increasing our defense and educational exchange cooperation, and modernizing our alliances; by participating fully in regional institutions like the East Asia Summit; building deeper partnerships with emerging powers like Indonesia and Vietnam.