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323151153
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Americas Initiative 9/14/90 [OA 5376]
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323151153
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Americas Initiative 9/14/90 [OA 5376]
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13540-001
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Records of the White House Office of Speechwriting (George H. W. Bush Administration)
Speech Draft Files
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Originally Processed With FOIA(s):
FOIA Number:
S
S
FOIA
MARKER
This is not a textual record. This is used as an
administrative marker by the George Bush Presidential
Library Staff.
Record Group/Collection:
George H.W. Bush Presidential Records
Collection/Office of Origin:
Speechwriting, White House Office of
Series:
Speech File Draft Files
Subseries:
Chron File, 1989-1993
OA/ID Number:
13540
Folder ID Number:
13540-001
Folder Title:
Americas Initiative 9/14/90 [OA 5376]
Stack:
Row:
Section:
Shelf:
Position:
G
26
16
4
4
(McNally/Simon) Draft One (B:TP)
PRESIDENTIAL TALKING POINTS:
AMERICAS INITIATIVE
ROOSEVELT ROOM
FRI., SEPT. 14, 10:30 A.M.
The Revolution of '89 has produced peaceful changes that are
almost universally positive -- at home here in the Western
Hemisphere as well as in Eastern Europe.
In Latin America, a new generation of leaders has turned
increasingly to market forces as they have pursued economic
reforms designed to encourage growth.
We have welcomed these developments. That's why, in June,
we announced the Enterprise for the Americas -- a major new
initiative to help forge a genuine partnership of free
market reform that will sustain both growth and political
stability in Latin America and the Caribbean.
Since our announcement, the Americas Initiative has been
welcomed by leaders throughout Latin America as a truly
historic and positive step forward.
For the first time, the three economic issues of greatest
importance to Latin America -- trade, investment, and debt
-- have been joined in a single endeavor.
On trade, we will seek to negotiate free trade agreements
and move toward a hemispheric free trade zone from Alaska to
Argentina, a process that has already begun with Mexico.
We are also developing bilateral framework agreements and
will address specific Latin American trade concerns within
the Uruguay Round.
On investment, we want to increase the incentives for
countries to adopt policies that will attract capital, and
facilitate the return of flight capital.
Prompt congressional action on this proposal is critical to
enable us to proceed on the debt reduction, environmental,
and investment aspects of the Americas Initiative.
Without congressional authority, we cannot even get underway
on some of the most important elements of the Initiative.
To cite two examples:
Our initiative includes a $1.5 billion multi-lateral
investment fund, administered by the Inter-American
Development Bank, to provide support and technical
assistance to carry out investment reforms. And we want to
thank I.D.B. president Enrique Iglesias for his strong
support of our Initiative.
And our plan also includes authorization to reduce the debt
owed by our Latin American neighbors to the U.S. government.
We will also pursue debt for equity and debt for nature
swaps to improve the hemisphere's environment.
We believe these measures together will boost trade,
investment, and growth in our Hemisphere.
As I said in June: I know there has been some concern in
Latin America that with so many things going on in the world
that our focus will shift away. But I have assured the
leaders throughout Central and South America that the U.S.
will not lose sight of the tremendous challenges and
opportunities right here in what we hope will soon be the
first fully free hemisphere in the world.
AMERICAS INITIATIVE \ ROOSEVELT ROOM
FRIDAY, SEPTEMBER 14 \ 10:30 A.M.
0
WE HAVE A DISTINGUISHED GATHERING HERE THIS
MORNING, AND I WANT TO THANK SECRETARY BRADY,
ACTING SECRETARY EAGLEBURGER, AMBASSADOR HILLS, AND
ADMINISTRATOR REILLY FOR JOINING US TODAY. I'D
ALSO LIKE TO WELCOME OAS SECRETARY GENERAL BAENA
SOARES AND I.D.B. PRESIDENT ENRIQUE IGLESIAS [EE-
GLAY-SEE-AHS]. GOOD TO HAVE YOU HERE.
- 2 -
0
IN LATIN AMERICA AND THE CARIBBEAN, A NEW
GENERATION OF LEADERS, WITH THE SUPPORT OF THEIR
CITIZENS, HAS TURNED INCREASINGLY TO MARKET FORCES
AS THEY HAVE PURSUED ECONOMIC REFORMS DESIGNED TO
ENCOURAGE GROWTH.
- 3 -
0 WE HAVE WELCOMED THESE DEVELOPMENTS. THAT'S WHY,
IN JUNE, WE ANNOUNCED ENTERPRISE FOR THE AMERICAS
-- A MAJOR NEW INITIATIVE TO HELP FORGE A GENUINE
PARTNERSHIP OF FREE MARKET REFORM THAT WILL SUSTAIN
BOTH GROWTH AND POLITICAL STABILITY IN LATIN
AMERICA AND THE CARIBBEAN.
- 4 -
0
I CONSIDER THIS ONE OF THE MOST IMPORTANT
INITIATIVES OF MY ADMINISTRATION. IT OPENS A BOLD
NEW CHAPTER IN HEMISPHERIC RELATIONS, ONE BASED ON
TRADE, NOT AID.
- 5 -
0
SINCE ANNOUNCING THIS INITIATIVE IN JUNE, I HAVE
BEEN EXTREMELY GRATEFUL FOR THE WARM RESPONSE IT
HAS RECEIVED FROM LEADERS IN OUR HEMISPHERE. PRIME
MINISTERS AND PRESIDENTS FROM JAMAICA TO URUGUAY,
FROM BRAZIL TO HONDURAS HAVE EITHER WRITTEN OR
CALLED ME TO EXPRESS THEIR SUPPORT.
- 6 -
0 As I SAID BACK IN JUNE: I KNOW THERE HAS BEEN SOME
CONCERN IN THE AMERICAS THAT WITH so MANY THINGS
GOING ON IN THE WORLD THAT OUR FOCUS WILL SHIFT
AWAY. BUT I HAVE ASSURED THE LEADERS THROUGHOUT
OUR HEMISPHERE THAT THE U.S. WILL NOT LOSE SIGHT OF
THE TREMENDOUS CHALLENGES AND OPPORTUNITIES RIGHT
HERE IN WHAT WE HOPE WILL SOON BE THE FIRST FULLY
DEMOCRATIC HEMISPHERE IN THE WORLD.
- 7 -
0
FOR THE FIRST TIME, THE THREE ECONOMIC ISSUES OF
GREATEST IMPORTANCE TO LATIN AMERICA -- TRADE,
INVESTMENT, AND DEBT -- HAVE BEEN JOINED IN A
SINGLE ENDEAVOR.
o
ON TRADE, WE HAVE SET FORTH CLEARLY OUR LONG-TERM
OBJECTIVE -- A HEMISPHERIC FREE TRADE ZONE FROM
ALASKA TO ARGENTINA.
- 8 -
o
As A STEP IN THAT DIRECTION, WE OFFERED TO
NEGOTIATE FRAMEWORK AGREEMENTS AND WILL ADDRESS
SPECIFIC LATIN AMERICAN TRADE CONCERNS WITHIN THE
URUGUAY ROUND. WE HAVE ALREADY SIGNED FRAMEWORK
AGREEMENTS WITH MEXICO, BOLIVIA, COLOMBIA, AND
ECUADOR. OTHERS ARE IN PROGRESS.
- 9 - -
0
ON INVESTMENT, WE WANT TO INCREASE THE INCENTIVES
FOR COUNTRIES TO ADOPT POLICIES THAT WILL ATTRACT
CAPITAL.
o
ON DEBT, WE ARE SUPPLEMENTING THE BRADY PLAN WITH A
NEW PROPOSAL TO REDUCE OFFICIAL DEBT.
- 10 -
0
THE LEGISLATION WE ARE TRANSMITTING TO CONGRESS
TODAY ADVANCES BOTH THE INVESTMENT AND DEBT
PORTIONS OF THE INITIATIVE, AND CONTAINS AN
INNOVATIVE APPROACH TO THE ENVIRONMENT. I ASK FOR
PROMPT ACTION, THIS SESSION, BY THE CONGRESS.
0
WITHOUT CONGRESSIONAL AUTHORITY, WE CANNOT GET
UNDERWAY ON SOME OF THE MOST IMPORTANT ELEMENTS OF
THE INITIATIVE. To CITE TWO EXAMPLES:
- 11 -
0
OUR INITIATIVE INCLUDES A $1.5 BILLION MULTI-DONOR
INVESTMENT FUND, ADMINISTERED THROUGH THE
INTER-AMERICAN DEVELOPMENT BANK, TO PROVIDE SUPPORT
AND TECHNICAL ASSISTANCE TO CARRY OUT INVESTMENT
REFORMS. AND WE WANT TO THANK I.D.B. PRESIDENT
IGLESIAS FOR HIS STRONG SUPPORT OF OUR INITIATIVE.
- 12 -
0
AND CONGRESSIONAL ACTION IS ALSO NECESSARY TO
AUTHORIZE REDUCTION OF THE DEBT OWED BY OUR LATIN
AMERICAN NEIGHBORS TO THE U.S. GOVERNMENT.
0
WE WILL ALSO PURSUE DEBT FOR EQUITY AND DEBT FOR
NATURE SWAPS TO IMPROVE THE HEMISPHERE'S
ENVIRONMENT.
0
WE BELIEVE THESE MEASURES TOGETHER WILL BOOST
TRADE, INVESTMENT, AND GROWTH IN OUR HEMISPHERE.
- 13 -
0
THIS LEGISLATION IS GOOD FOR OUR NEIGHBORS, GOOD
FOR THE HEMISPHERE, AND GOOD FOR US. IT HAS MY
FULL BACKING AND SUPPORT. THE WESTERN HEMISPHERE
IS OUR COMMON HOMELAND AND ITS POLITICAL AND
ECONOMIC WELL-BEING WILL ALWAYS BE OF THE UTMOST
IMPORTANCE TO US. THAT'S WHY WE NEED TO MOVE
FORWARD, AND LET'S PASS THIS IMPORTANT LEGISLATION
SOON.