We are in no great rush to judgement today or tomorrow, but it is clear that time is running out. Multilateralism cannot become an excuse for inaction...

We will work through these issues patiently and deliberately with our friends and allies...

The more we wait, the more chance there is for this dictator with clear ties to terrorist groups including al-Qaeda to pass a weapon, share technology or use these weapons again.

Let the Iraqi regime have no doubt, however. If it does not disarm peacefully at this juncture, it will be disarmed at the end of the road.

We will not shrink from war if that is the only way to rid Iraq of its weapons of mass destruction. We continue to reserve our sovereign right to take military action against Iraq alone or in a coalition of the willing...

This is not about (UN weapons) inspectors finding smoking guns. It is about Iraq's failure to tell the inspectors where to find its weapons of mass terror...

There is no indication whatever that Iraq has made the strategic decision to come clean and comply with its international obligations to disarm.

The more we wait, the more chance there is for this dictator with clear ties to terrorist groups including al-Qaeda to pass a weapon, share technology or use these weapons again.

Mr Powell also spoke about North Korea's nuclear programme

The United States is willing to talk to North Korea about how it will meet its obligations to completely dismantle its nuclear weapons programme. The United States has no intention of attacking North Korea...

At the same time we are keeping all our options on the table.

Pyongyang's behaviour affects the stability of both the immediate region and the world...

This is not just a matter between the United States and North Korea... We are working with our allies and others in the region and across the international community to address through diplomacy our common concerns over North Korea.

Mr Powell said the US could help calm tensions between India and Pakistan - if the two nuclear neighbours show willing.

No American hidden hand can remove the distrust between India and Pakistan. That they must do for themselves.

The United States has extended a helping hand to both India and Pakistan. We stand ready to do so again. But it is crucial that they both take risks for peace on the subcontinent and work to normalise their relations.

The US secretary of state reaffirmed President Bush's vision of a Palestinian state

To achieve this vision, the Palestinians must build trust by establishing a new and different leadership... and by putting an end to all terror and violence.

Israel will also be required to build trust by easing the economic plight of ordinary Palestinians and by putting an end to settlement construction.