THE PRESIDENT: First of all, I must welcome all of you to the Hague on this important dispute. We have a timetable, as you know, but before I would just like to make one point that here we are dealing with two poor developing countries, which must be borne in mind. Secondly, I myself coming from the region must remind this tribunal that Latin America has had a glorious history with respect to successful arbitration. It is one of which Latin America should really be proud.