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Enterprise for the Americas Initiative 6/27/91 [OA 6035] [2]
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26
17
2
3
From Ambassador Luigi Enaudi, US Rep to the OAS and head of the
President's EAI Commission
"Latin America is embracing the EAI -- you'd better believe it!
They are clamoring on about it because it recognizes and includes
them. This is its importance."
His point runs deep -- US/L.A. relations have been fraught
with the perception that the US is the older brother bossing
the little one around, the "Big Whale" to the "Little
Shrimp". They've now come around to democracy -- we're on par
there. (( When the OAS General Assembly met in Santiago
earlier this month, every single country represented had
elected their own governments, except of course Cuba.)
We need to stress that EAI recognizes and includes them
as full/crucial/critical partners -- we have to do this
together or it will fall. "Stand together or hang separately"
or "the group is only as strong as its weakest link" type
of thing.
Because we are united by geography --
Because we share a common history --
Because our people are industrious/ resourceful/
freedom loving etc --
The future is ours --
We are the future --
The New Chosen People ((?!))
Snow/Cawley
June 26, 1991
Draft Three
POTUS.
PRESIDENTIAL STATEMENT: ENTERPRISE FOR THE AMERICAS INITIATIVE
THURSDAY, JUNE 27, 1991
4:00 P.M.
ROSE GARDEN
Secretary Brady, Ambassador Hills. Minister Foxley of
Chile, Minister DeFranco of Nicaragua, Minister Alfaro of Panama.
I could not be more pleased to have you all join me up here
today. And look at this audience!
My good friend, Secretary Mosbacher; Secretary Madigan,
Administrator Reilly -- it's good to see you here. Greetings
also to Fred Zeder from OPIC, John Macomber of the EXIMBANK;
members of Congress; and representatives of the private sector.
This large and distinguished group of Americans illustrates
vividly our commitment to building a better, more prosperous
hemisphere.
We're also pleased to have with us Enrique Iglesias of the
Inter-American Development Bank; Ambassadors from Latin America
and the Caribbean, from the Organization of American States,
other members of the diplomatic corps. To everyone here: My
warmest greetings to you on this historic day.
I think you'll agree -- this counts as a warm greeting. //
I'll bet you're glad I didn't try for anything warmer. //
We've come here today to celebrate the first anniversary of
our Enterprise for the Americas Initiative. I can't think of any
2
better example of the way in which powerful ideals can create
surprising results.
The Enterprise for the Americas Initiative grew out of talks
between many of us gathered here. I heard many of my friends in
Central and South America talk about the importance of building a
prosperous hemisphere -- of throwing off the deadening weight of
debt and economic stagnation. We agreed to forge strong ties of
idealism and self-interest.
With the Enterprise for the Americas Initiative, we vowed to
encourage free trade, stimulate investment throughout the
hemisphere, and reduce the debt burden that overwhelms so many of
our neighbors and colleagues. This sounded wildly ambitious just
last year. Today, however, we think of it as a good start. //
We have made great progress toward the goal of hemispheric
free trade. In just one year we have signed nine bilateral
framework agreements for trade and investment: with Chile,
Colombia, Costa Rica, Ecuador, El Salvador, Honduras, Peru and
Venezuela. Make that eleven agreements: Today, Amb. Hills will
sign bilateral framework agreements with Minister DeFranco of
Nicaragua and Minister Alfaro of Panama. We also are negotiating
with Guatemala and the 13-nation, English speaking Caribbean
Community. We hope to sign these agreements soon.
Last week, Amb. Hills also joined representatives of
Argentina, Brazil, Paraguay and Uruguay in signing the Rose
Garden Agreement, the first regional framework accord under the
3
Enterprise for the Americas Initiative. Carla, you've been busy!
//
Amb. Hills and her counterparts will work together to pull
down tariff and nontariff trade barriers, protect patents and
intellectual property, strengthen investment and profit
repatriation policies. In short, they will build a solid
foundation for economic cooperation and prosperity.
But these agreements represent only one facet of the
initiative. On the investment front, our nations have begun
making the entire hemisphere more hospitable to investment. The
Inter-American Development Bank has approved its first so-called
sector loan -- $150 million to Chile. Minister Foxley and
President Iglesias completed arrangements for this loan just
today. //
President Iglesias, I want to thank you and congratulate
everyone at the IDB for this important step, and we should
congratulate Chile for the impressive free-market reforms it
already has undertaken. Through these loans, the IDB will help
Latin America and the Caribbean countries compete for capital.
They will encourage reforms that foster economic growth.
For years the world experimented with the fantasy that
councils of experts could "manage" economies. The utter failure
of communism demonstrated that expert cadres can no more manage
growth than they can manage the weather. Free markets reward
people who have ideas -- not just those who have connections.
They allow poor people to become rich. They make possible
4
unprecedented levels of social mobility. They teach people that
good deeds can indeed pay off, and that the virtues of hard
study, hard work, and commitment to others really do produce
wealth.
I'm also pleased to report that our proposal for a 1.5
billion dollar Multilateral Investment Fund has gotten off to a
great start. Japan has pledged 100 million dollars for each of
the next five years. Canada, France, Portugal and Spain have
expressed interest in supporting the fund. This fund will
provide targeted support for countries that undertake the
difficult reforms necessary to encourage investment and stimulate
free enterprise.
Pillar three of our proposal, debt reduction, also has
gotten off to a rousing start. We will do all we can to reduce
the debt burden of Caribbean and Latin American neighbors who
adopt substantial, permanent economic reforms.
Four nations already have negotiated far-reaching reductions
in commercial debt through the provisions of the Brady plan, and
other nations will take advantage of the plan as their economic
reforms take shape.
Congress has agreed to reward economic reform and trade
liberalization by reducing a portion nation's debt -- the food
assistance loans contracted under Public Law 480. Congress also
supported our recommendation that the interest on remaining debt
go to fund grass-roots environmental projects. This ambitious,
innovative plan already has produced results.
5
Today Secretary Brady and Minister Foxley will sign an
agreement with Chile, slashing Chile's PL 480 debt 40 percent, to
23 million dollars. This is the first example of bilateral debt
reduction under the EAI. We look forward to reaching an
understanding soon on the environmental component of this
agreement.
Now, let's talk about what lies ahead. As you know,
Congress recently voted not to terminate the fast-track trade
procedures that enable us to deal in good faith with you -- and
with Congress -- in trade negotiations. Our goal is to create a
free trade zone that will cover all of North America. But this
trade zone --- 360 million consumers and markets that produce more
than $6 trillion in annual output -- will set the stage for
something even more dramatic -- a hemispheric zone of free trade.
The Enterprise for the Americas initiative can link our
nations, with their diverse cultures, workforces, creative
forces. I know some have worried that the EAI might indicate a
reduction in our commitment to the multilateral trading system.
Not so: we remain fully determined to make that system work.
Indeed, as part of the Uruguay Round, we have joined our
Latin American and Caribbean allies in trying to pull down
protectionist barriers in Europe and Asia. I want to stress the
importance of reaching a successful conclusion to the round. It
can establish a basis for worldwide free and fair trade. Without
it, we will have great difficulty moving forward.
6
We live in an extraordinary place at an extraordinary time.
With the sad exception of Cuba, ours has become the world's first
fully democratic hemisphere. //
This is no accident of history. From the Northern tip of
Alaska to the southernmost point of Tiera del Fuego, we share
common heritages. Our people can trace their roots to all the
nations of the world. We share ties of culture, of blood, of
common interest. And now, as democracy sweeps the world, we
share the challenge of leadership through example.
We can lead the way to a world freed from suspicion, from
mercantilist barriers, from socialist inefficiencies by building
our own commonwealth of freedom. We can show the world just how
prosperity preserves the social order -- and the land, air, and
water as well. We can show the rest of the world that
deregulation, respect for private property, low tax rates and low
trade barriers can produce vast economic returns. We can show
the rest of the world how to compete in ways that build upon each
other's strengths, rather than preying upon weaknesses.
Today, I pledge my full effort to make the Enterprise for
the Americas Initiative a reality. I urge Congress to pass
promptly the remaining legislation necessary to enact EAI. This
includes debt-reduction authority and authority for the United
States to contribute its share to the Multilateral Investment
Fund.
In 1876, the Brazilian Emperor Dom Pedro II visited the
United States. During a stop in St. Louis, he noticed that local
7
craftsmen were using only the sturdiest materials in building a
customs house. The emperor was stunned. "But an iron building
would last 400 years, II he noted. "You do not mean to tell me
that there will be any custom houses in 400 years."
Unfortunately, no one understood his point. //
We meet today to pursue Dom Pedro's vision of a hemisphere
shorn of customs houses and jammed with shops and trade zones.
If we can build a hemisphere devoted to freedom, one that
encourages men and women of genius to turn their great ideas into
products, deeds, services and industries; if we can build a
hemisphere in the spirit of enterprise buries the temptations of
envy, we can create our own New World order. We can build a
legacy of real prosperity, stability, and harmony -- for all our
lands.
We have worked miracles in one year; let us shape a
revolution in the next. Together, we can make our hemisphere
freedom's first and best home. Thank you, and God bless you.
Now I would like to ask Secretary Brady and Minister Foxley
to sign the debt reduction agreement for Chile -- and following
that, Ambassador Hills to sign framework agreements for trade and
investment with Minister DeFranco of Nicaragua and Minister
Alfaro of Panama.
#
#
#
#
Document No. 24982855
WHITE HOUSE STAFFING MEMORANDU
4772
DATE: June 259,1 19UN 27 A 14
ACTION/CONCURRENCE/COMMENT DUE BY: 2:00 p.m. 06/26
SUBJECT: PRESIDENTIAL REMARKS: ENTERPRISE FOR THE AMERICAS INITIATIVE
(06/25 Draft one)
ACTION FYI
ACTION FYI
VICE PRESIDENT
MCCLURE
SUNUNU
PETERSMEYER
SCOWCROFT
PORTER
DARMAN
ROGICH
BRADY
SMITH
BROMLEY
UNTERMEYER
CARD
ROGERS
DEMAREST
SNOW
FITZWATER
BOSKIN
GRAY
HOLIDAY
REMARKS:
Please forward your comments directly to Tony Snow, Rm. 122,
X2930, no later than 2:00 p.m., Wednesday, June 26, with a
copy to this office. Thank you.
RESPONSE:
June 26, 1991
TO:
Tony Snow
The NSC concurs with changes, as noted.
This is considerably too young
PHILLIP D. BRADY
Assistant to the President
Brent Scowcroft
and Staff Secretary
Ext. 2702
CC: Phillip Brady
Marter
Snow/Cawley
June 25, 1991
91 JUN 25 Pif 7: 12
Draft One
EAI.TS
PRESIDENTIAL STATEMENT: ENTERPRISE FOR THE AMERICAS INITIATIVE
THURSDAY, JUNE 27, 1991
4:00 P.M.
ROSE GARDEN
Secretary Brady, Ambassador Hills, Minister Foxley of Chile;
Minister DeFranco of Nicaragua, Minister Alfaro of Panama; I
could not be more pleased to have you all join me up here today.
Look at this distinguished audience!
Secretary Baker, welcome back -- for now. My good friend,
Secretary Mosbacher. Fred Zeder, John Macomber, Enrique Iglesias
of the Inter-American Development Bank. Ambassadors from the
Organization of American States, other members of the diplomatic
corps. Members of Congress -- my warmest greetings to all of you
on this historic day.
I know most of you are happy that I can't muster even warmer
greetings. 90 degrees ought to be enough for anyone. //
We've come here today to celebrate the first anniversary of
our Enterprise for the Americas Initiative. Frankly, the best
way to celebrate is to push the initiative even further.
We thought we had set some pretty ambitious goals last year,
when we announced the three-part EAI. We vowed to encourage free
trade, stimulate investment throughout the hemisphere, and reduce
overwhelms
the debt burden that threatens so many of our neighbors and
colleagues. But we may actually have set our sights too low.
the EAI was not developed in isolation in Washington It was born out
of a dialogue with the leaders of Latin America and the Caribbean
fromwhich I have benefitted greatly.
2
In just one year, we have signed a dozen agreements under
EAI -- and we will announce three more today. We have concluded
bilateral
nine separate which framework agreements [for trade and investment
These agreements create councils charged with dismantling
PROMOTING
barriers to trade and investment. The United States already has
signed [a series of) agreements with 5 large many group of our
hemispheric friends: Bolivia, Brazil, Chile, Colombia, Costa
Rica, Ecuador, El Salvador, Honduras, Mexico, Peru, Venezuela and
the "southern cone" countries of Argentina, Brazil, Paraguay and
Uruguay.
On the investment front, our nations have begun inviting
investors to support new business throughout the hemisphere.
Today, we can announce that the Inter-American Development Bank
investment
further has economic approved progress its first in so-called, sectoral loan -- $150 million to support
[Lean to] Chile. President Iglesias, I want to thank you and
congratulate everyone at the IDB for this very important move.
Under these agreements, the IDB will support efforts to replace
ideas
old mercantilist or socialist economic systems with free market
Chile has already done so and can point to hish levels of domestic and
systems. ^ Our simple goal: We want to promote the economic foreign
reforms that help foster economic growth and encourage
investment
to demonstrate
environmental stewardship throughout the hemisptere.
the success of
For years the world experimented with the fantasy that
its open market
policies
councils of experts could "manage" economies. The utter failure
of communism demonstrated that expert cadres can no more manage
growth than they could manage the weather. Free markets reward
people who have ideas -- not just those who have connections.
3
I'm also pleased to report that my proposal for a
Multilateral Investment Fund has gotten off to a great start.
Japan has pledged $100 million for each of the next five years.
France, Spain and Canada also have expressed interest in
investment
supporting the fund. This fund, like the sectoral loans from
the
dinefficient tectionist
A
IDB, will help nations throw off the shackles of authoritarian-or
totalitarian economic systems, and let people throughout our
hemisphere enjoy the thrills and the blessings of open economic
competition.
Pillar three of our proposal, debt reduction, also has
gotten off to a rousing start. Our idea is simple: We will do
all we can to reduce the debt burden of nations that adopt
substantial, permanent economic reform.
food and
Congress has agreed to reduce the debt burden of nations
to llow them to
use interest aside payments
that liberalize their trade and investment rules, and [has-set
local
to finance environmental projects. This ambitious,
innovative plan already has produced results he lping to restore
investor con tidence in countries with high debt.
Today the United States will sign a debt-reduction agreement
with Chile, slashing its debt under Public Law 480 by 40 percent,
to
23
Minister Foxley, your country's democratic and economic
million dollars. achievements are admirable. I congratulate you and
your countrymen.
Now, let's talk about what lies ahead. As you know,
Congress recently extended the fast-track trade procedures that
enable us to deal in good faith with you -- and with Congress --
in trade negotiations. We hope to create a free trade zone that
will cover all of North America within the next few years. But
this trade zone -- which will embrace 360 million consumers and
4
markets that produce $6 trillion in annual output -- simply will
set the stage for something even more dramatic. The Enterprise
for the Americas initiative can link our entire hemisphere, with
its diverse cultures, workforces, creative forces.
Uruguay Round
We already have joined forces in the [GATT] talks, trying to
want To
pull down protectionist barriers in Europe and Asia.
I
[cannot]
stress enough the importance of reaching a, a substantial GATT agreement that
will provide the foundation for worldwide free and fair trade.
a comprehensive hruguay Round Agreement,
Without GATT we will have great difficulty moving forward.
We live in an extraordinary place at an extraordinary time.
With the sad exception of Cuba, our hemisphere stands poised to
become the first fully democratic hemisphere in human history.
From the Northern tip of Alaska to the southernmost point of
driverd
Tiera del Fuego, we share common heritages Our people can trace
ALL CONTINENTS in The world
their heritages to Spain, Portugal, Germany Italy, Turkey,
China, Japan, England, the Arab world 7 and of course, to this
continent itself. Many of your leaders have taken college
degrees here, and many of our finest experts have studied on your
soil. We share ties of culture, of blood, of common interest.
And now, as democracy sweeps the world, we share the challenge of
leadership through example.
We can lead the way to a world freed from suspicion, from
mercantilist barriers, from socialist inefficiencies by building
our own commonwealth of freedom. We can show the world just how
prosperity preserves the social order -- and the land, air, and
water as well. We can show the rest of the world that
5
deregulation, private property, low tax rates and low trade
barriers can produce vast economic returns. And we can show the
rest of the world how neighbors can compete in ways that build
upon each other's strengths, rather than preying upon their
weaknesses.
Today, I pledge my full effort to uphold the United States'
WORK
part of the EAI bargain. I will lobby hard to ensure that we
contribute our $100 million annual share this year to the Multilateral
AND I hope The MEMBSOS g-Congrass hare WILL
Investment fund andothat we work hard to reach bilateral frainework
agreements with all the nations of this hemisphere. I also
assure you that we will spare no effort in trying to reach an
acceptable GATT conclusion. I assure you that we will fight for
free and fair trade -- everywhere. Insert
A
In 1876, the Brazilian Emperor Dom Pedro II visited the
United States. During a stop in St. Louis, he noticed that local
craftsmen were using only the sturdiest materials in building a
customs house. The emperor was stunned. "But an iron building
would last 400 years,' he noted. "You do not mean to tell me
that there will be any custom houses in 400 years. "
Unfortunately, no one understood his point. //
We meet today to pursue Dom Pedro's vision of a hemisphere
shorn of customs houses and jammed with shops and trade zones.
If we can build a hemisphere devoted to freedom, one that
encourages men and women of genius to turn their great ideas into
products, deeds, services and industries; if we can build a
hemisphere in which envy must step aside [to] for onrushing
6
enterprise; we can create our own New World order. We can build
a legacy of real prosperity, stability, and harmony.
We have worked miracles in one year; let us shape a
revolution in the next. Together, we can make our hemisphere
freedom's first and best home. Thank you, and God bless you.
Now, I would like to ask Minister Foxley, Minister DeFranco,
Minister Alfaro; Secretary Brady and Ambassador Hills to step
forward as they sign a debt reduction agreement with Chile; a
sl
framework trade agreement with Nicaragua and a framework trade
agreement with Panama.
1
#
#
#
#
Insert A on page 5
A growing, prosperous Latin America and Caribbean is a natural
market for American exports of manufactured goods and
agricultural products. Thus, the Enterprise for the Americas
Initiative also means new jobs and rising incomes for the
citizens of the United States.
NSC
&
4/26
THE WHITE
sew marked
06/26
B,
When JG check these remarks we hadn't rec'd
INFORMATION
NSC comments yet and Christina said theydid
this version with a bootleg copy of NSC
comments.
MEMORANDUM FOR THE
FROM:
TONY SNOW
There seems to be quite a bit of changes
from NSC that were not taken (we now have
NSC comments)
SUBJECT: ENTERPRIS]
Also, Cabinet Affairs had quite a bit of
comments.
I. SUMMARY
PLS MAKE SURE PHIL WANT THIS DRAFT TO GO
PRESIDENT
On Thursday, Ju
al 4:00 p.m. you will make remarks
honoring the first anniversary of your Enterprise for the
Americas Initiative. The event will be held in the Rose Garden,
with an audience of 200. Your remarks are approximately twelve
minutes in length and will be on speechcards.
You will be joined on stage by Secretary Brady, Ambassador
Hills, Minister Foxley of Chile, Minister DeFranco of Nicaragua
and Minister Alfaro of Panama. Secretaries Baker, Mosbacher and
Madigan will be in the front row of the audience along with
Administrator Reilly, Fred Zeder, John Macomber, Enrique Iglesias
and a large contingent of foreign and OAS ambassadors.
II. DISCUSSION
Attached for your review are draft remarks to be delivered
at the Enterprise for the Americas event. They highlight the
advances already being made with the E.A.I. initiative -- in
trade, investment and debt reduction. In promising to fight for
free and fair trade everywhere, you also urge Congress to pass
the remaining legislation for the Initiative.
At the conclusion of your remarks, Secretary Brady and
Ambassador Hills will sign new agreements with the Ministers of
Chile, Nicaragua and Panama.
Snow/Cawley
June 26, 1991
Draft Two
EAI.TS
PRESIDENTIAL STATEMENT: ENTERPRISE FOR THE AMERICAS INITIATIVE
THURSDAY, JUNE 27, 1991
4:00 P.M.
ROSE GARDEN
Secretary Brady, Ambassador Hills. Minister Foxley of
Chile, Minister DeFranco of Nicaragua, Minister Alfaro of Panama.
I could not be more pleased to have you all join me up here
today. And look at this audience!
My good friend, Secretary Mosbacher; Secretary Madigan,
Administrator Reilly -- it's good to see you here. Greetings
also to Fred Zeder from OPIC, John Macomber of the EXIMBANK;
members of Congress. This large and distinguished group of
Americans illustrates vividly our commitment to building a
better, more prosperous hemisphere.
We're also pleased to have with us Enrique Iglesias of the
Inter-American Development Bank; Ambassadors from Latin America
and the Caribbean, from the Organization of American States,
other members of the diplomatic corps. To everyone here: My
warmest greetings to you on this historic day.
I think you'll agree -- this counts as a warm greeting. //
I'll bet you're glad I didn't try for anything warmer. //
We've come here today to celebrate the first anniversary of
our Enterprise for the Americas Initiative. I can't think of any
2
better example of the way in which powerful ideals can create
reworded
surprising results.
The Enterprise for the Americas Initiative grew out of talks
between many of us gathered here. I heard many of my friends in
Central and South America talk about the importance of building a
prosperous hemisphere -- of throwing off the deadening weight of
debt and economic stagnation. We agreed to forge strong ties of
idealism and self-interest.
With the Enterprise for the Americas Initiative, we vowed to
encourage free trade, stimulate investment throughout
the changed this
hemisphere, and reduce the debt burden that threatens so many of
P
overwhelms"
our neighbors and colleagues. This sounded wildly ambitious just
last year. Today, however, we think of it as a good start. //
We have made great progress toward the goal of hemispheric
free trade. In just one year we have signed nine bilateral
framework agreements for trade and investment: with Chile,
Colombia, Costa Rica, Ecuador, El Salvador, Honduras, Peru and
Venezuela. Make that eleven agreements: Today, Amb. Hills will
sign bilateral framework agreements with Minister DeFranco of
Nicaragua and Minister Alfaro of Panama. We also are negotiating
with Guatemala and the 13-nation, English speaking Caribbean
Community. We hope to sign these agreements soon.
Last week, Amb. Hills also joined representatives of
Argentina, Brazil, Paraguay and Uruguay in signing the Rose
Garden Agreement, the first regional framework accord under the
3
Enterprise for the Americas Initiative. Carla, you've been busy!
//
Amb. Hills and her counterparts will work together to pull
down tariff and nontariff trade barriers, protect patents and
intellectual property, strengthen investment and profit
repatriation policies. In short, they will build a solid
foundation for economic cooperation and prosperity.
But these agreements represent only one facet of the
initiative. On the investment front, our nations have begun
making the entire hemisphere more hospitable to investment. The
12x
Inter-American Development Bank has approved its first so-called INJEST ment
tosuppat further economic progress
the
sectoral loan -- $150 million loan to Chile. Minister Foxley and
President Iglesias completed arrangements for this loan just
today. //
President Iglesias, I want to thank you and congratulate
everyone at the IDB for this important step. Through these
loans, the IDB will help Latin America and the Caribbean
NSC wantestent have -Din take
countries compete for capital. They will encourage reforms that
foster economic growth.
For years the world experimented with the fantasy that
councils of experts could "manage" economies. The utter failure
of communism demonstrated that expert cadres can no more manage
growth than they can manage the weather. Free markets reward
people who have ideas -- not just those who have connections.
They allow poor people to become rich. They make possible
unprecedented levels of social mobility. They teach people that
4
good deeds can indeed pay off, and that the virtues of hard
study, hard work, and commitment to others really do produce
wealth.
I'm also pleased to report that our proposal for a 1.5
billion dollar Multilateral Investment Fund has gotten off to a
great start. Japan has pledged 100 million dollars for each of
the next five years. Canada, France, Portugal and Spain have
expressed interest in supporting the fund. This fund will
provide targeted support for countries that undertake the
difficult reforms necessary to encourage investment and stimulate
free enterprise.
Pillar three of our proposal, debt reduction, also has
gotten off to a rousing start. We will do all we can to reduce
the debt burden of Caribbean and Latin American neighbors who
adopt substantial, permanent economic reforms.
Four nations already have negotiated far-reaching reductions
in commercial debt through the provisions of the Brady plan, and
other nations will take advantage of the plan as their economic
reforms take shape.
Congress has agreed to reward economic reform and trade
liberalization by reducing a portion nation's debt -- the food
assistance loans contracted under Public Law 480. Congress also
supported our recommendation that the interest on remaining debt
go to fund grass-roots environmental projects. This ambitious,
innovative plan already has produced results.
NSC added
sent here
Did Not take
5
Today the United States will sign an agreement with Chile,
slashing Chile's PL 480 debt 40 percent, to 23 million dollars.
We look forward to reaching an understanding soon on the
environmental component of this agreement.
Now, let's talk about what lies ahead. As you know,
Congress recently voted not to terminate the fast-track trade
procedures that enable us to deal in good faith with you -- and
with Congress -- in trade negotiations. Our goal is to create a
free trade zone that will cover all of North America. But this
trade zone -- 360 million consumers and markets that produce more
than $6 trillion in annual output -- will set the stage for
something even more dramatic -- a hemispheric zone of free trade.
The Enterprise for the Americas initiative can link our
nations, with their diverse cultures, workforces, creative
forces. I know some have worried that the EAI might indicate a
reduction in our commitment to the multilateral trading system.
Not so: we remain fully determined to make that system work.
Indeed, as part of the Uruguay Round, we have joined our
Latin American and Caribbean allies in trying to pull down
WANTTO
rusc change
protectionist barriers in Europe and Asia.
I
cannot stress
NOT
enough the importance of reaching a successful conclusion to the
round. It can establish a basis for worldwide free and fair
TAKAN
NSC wanted phrase here- DIDNOT
trade. Without it, we will have great difficulty moving forward.
TAKE
We live in an extraordinary place at an extraordinary time.
With the sad exception of Cuba, ours has become the world's first
fully democratic hemisphere. //
NSC
wants
out
This is no accident of history. From the Northern tip of
Alaska to the southernmost point of Tiera del Fuego, we share
common heritages. Our people can trace their roots to all the
nations of the world. We share ties of culture, of blood, of
common interest. And now, as democracy sweeps the world, we
share the challenge of leadership through example.
We can lead the way to a world freed from suspicion, from
mercantilist barriers, from socialist inefficiencies by building
our own commonwealth of freedom. We can show the world just how
prosperity preserves the social order -- and the land, air, and
water as well. We can show the rest of the world that
deregulation, respect for private property, low tax rates and low
trade barriers can produce vast economic returns. We can show
the rest of the world how to compete in ways that build upon each
other's strengths, rather than preying upon weaknesses.
Today, I pledge my full effort to make the Enterprise for
the Americas Initiative a reality. I urge Congress to pass
promptly the remaining legislation necessary to enact EAI. This
includes debt-reduction authority and authority for the United
States to contribute its share to the Multilateral Investment
Fund. We will spare no effort in trying to reach an acceptable
GATT conclusion. We will fight for free and fair trade --
everywhere. NSC INSAT here DiDNat
In 1876, the Brazilian Emperor Dom Pedro II visited the TAKe
United States. During a stop in St. Louis, he noticed that local
craftsmen were using only the sturdiest materials in building a
7
customs house. The emperor was stunned. "But an iron building
would last 400 years, " he noted. "You do not mean to tell me
that there will be any custom houses in 400 years."
Unfortunately, no one understood his point. //
We meet today to pursue Dom Pedro's vision of a hemisphere
shorn of customs houses and jammed with shops and trade zones.
If we can build a hemisphere devoted to freedom, one that
encourages men and women of genius to turn their great ideas into
products, deeds, services and industries; if we can build a
hemisphere in the spirit of enterprise buries the temptations of
envy, we can create our own New World order. We can build a
legacy of real prosperity, stability, and harmony -- for all our
lands.
We have worked miracles in one year; let us shape a
revolution in the next. Together, we can make our hemisphere
freedom's first and best home. Thank you, and God bless you.
Now I would like to ask Secretary Brady and Minister Foxley
to sign the debt reduction agreement for Chile -- and following
that, Ambassador Hills to sign a framework agreement for trade
and investment with Minister DeFranco of Nicaragua and Minister
Alfaro of Panama.
#
#
#
#
SENT BY:
; 6-24-91 ; 4:50PM ;
hrNl=:a-
2024566218:# 1
United States Department of State
91 JUN 24 P5: 11
Washington, D.C. 20520
DATE June 24
FACSIMILE TRANSMITTAL SHEET
PLEASE DELIVER TO:
NAME
Tony Snow
OFFICE
ROOM NO.
TELEPHONE NO.
456-6218
NUMBER OF PAGES ATTACHED
3
FROM:
NAME
Drocers Bernie Monson
OFFICE
TELEPHONE NO. 647-5780
COMMENTS:
SENT BY:
; 6-24-91 ; 4:50PM ;
hrNl=:a-
2024566218:# 2
One year ago today, I announced my Enterprise for the
Americas Initiative. The EAI was not developed in isolation
in Washington. It was born out of an authentic and a
continuing dialogue from which I have benefited enormously
as President with the leaders of Latin America and the
Carribbean.
At the hemispheric summit I attended in San Jose in
October 1989, at the Cartejena summit the following
February, and at the countless meetings I have participated
in with leaders of the Americas I heard both a common hope
expresed and a common concern.
My fellow heads of state told me that they want to
replace the "lost decade" of the 1980's with a decade of
renewed hope and economic growth in the 1990's in which all
of the citizens of the hemisphere, particularly the poor,
can share. They said they are committed to strip away the
barriers to trade and investment and growth that have
shackled the energies of their citizens for too long and
open their economies to new opportunities.
They urged the United States to help build this more
hopeful future--not with massive assistance programs--but
with renewed support for trade, investment, and debt
reduction. But they also expressed the fear that the United
States might somehow turn its attention and energies
elsewhere in the world and ignore the Americas at this
moment of maximum challenge and opportunity.
My friends as long as I am President, the United States
will never make that historic mistake. Just the opposite. As
a nation, we are re-engaging with our friends and partners
in the Americas as never before.
For this generation of leaders in the Americas, north
and south, share a common vision. Together, we are building
something the world has never seen before: the first
completely democratic hemisphere. At the General Assembly of
the OAS held earlier this month in Santiago, for the first
time in history, every nation chose its government through
free and fair elections. Cuba, alone, stands isolated
against the democratic tide.
But our common vision is broader still. For we are also
building a new relationship among the developed and
developing nations throughout the Americas, an authentic
SENT BY:
; 6-24-91 ; 4:51PM ;
hrNl=:a-
2024566218;# 3
partnership in which trade is free from Alaska to Tierra del
Fuego--a partnership in which new prosperity, growth, and
rising incomes, --can help all our citizens share in the
fullness of life to the best of their abilities.
My Enterprise for the Americas Initiative was a
concrete response to the hopes and dreams I heard during my
first year as President from the leaders of this hemisphere.
One year after its announcement, I am pleased to say we are
well on the way to making this vision a reality.
We have embarked, with the support of Congress, on
historic negotiations to create a North American Free
Trading zone uniting the 360 citizens of Canada, Mexico, and
the United States. This vision of free trade has
re-energized the age-old dream of economic integration
throughout the Americas.
One week after my EAI announcement, the leaders of the
southern cone announced they would cut in half their
deadline for negotiating a common market uniting Brazil,
Artengina, Paraguay, and Uruguay, now scheduled for 199.
Just last week, during President Collor de Mello's State
Visit, Ambassador Carla Hills and the foreign ministers of
the four southern cone nations signed " The Rose Garden
Agreement" the first regional Framework Agreement on Trade
and Investment under the EAI. Since last June, we have
negotiated bilateral Framework Agreements on Trade and
Investment with: Chile, Ecuardo, Peru, Venezuela, Colombia,
Honduras, Costa Rica, and El Salvador. Today, we will sign
agreements with
.
A regional agreement with
Caricom--the Carribbean Community--: is well on its way as
well. And the nations of the Andean Pact have pledged to
Para Nica
establish a common external tariff by 1992.
On the investment front, we are making major progress
Chile
also. Under EAI, We proposed to create a new, $1.5 billion
Multi-Lateral Investment Fund in the Inter-American
1st Inv.sector
Development Bank to assist nations in the Americas
streamline and reform their investment regimes. I am proud
to report today that we are well on our way to meeting that
Sapanase,
commitment. Japan has pledged to contribute $500 million
over the next five years. Canada, France,
(check with
Landa
Treasury for full list) have also pledged to participate.
And the Congress has agreed to my request for full funding
in fiscal 1992. Today, we witness the first investment loan
under IDB to Chile whose economic reforms and performance
offer hemisphere. a model of hope and achievement to all nations in the
SENT BY:
; 6-24-91 ; 4:52PM ;
hrNl=:a-
2024566218:# 4
We are moving as well on the third pillar of the
EAI--reduction of official debt. Under the Brady Plan, four
nations--Mexico, Venezuela, Costa Rica, and Uruguay have
already negotiated far-reaching reductions in their debt
burdens with their commercial creditors. As other nations in
the region make progress on economic reform, we expect they
too will benefit under the Brady Plan. Now under EAI, the
nations of the hemisphere can also reduce their burden of
official debt and turn their interest payment into local
resources to restore their natural environment. Today, we
sign the first debt reduction agreement under the EAI. It
(describe details, including environmental project, if
known).
We are now moving forward on all three pillars of the
EAI--trade, investment, and debt reduction. But I want that
pace to accelerate. I hope the leaders of the Congress give
this initiative their full support. A growing prosperous
Latin American and the Carribbean is a natural market for
American exports of manufactured goods and agricultural
products. Thus, the Enterprise for the Americas Initiative
also means new jobs and rising incomes for the citizens of
the United States. It merits and needs the full support of
the Congress, particularly my proposals for reducing debt.
For those who believe in both political and economic
freedom this is a moment of historic opportunity and new
hope in the Americas. I am determined to seize that
opportunity and to see those hopes fulfilled, and on this
first anniversary of the Enterprise for the Americas
Initiative, I believe we are on our way. Thank you.
action. Dob & larger
Document No. 24982895
CC: J THING
WHITE HOUSE STAFFING MEMORANDUM
91 JUN 26 P3:56
DATE: June 25, 1991
ACTION/CONCURRENCE/COMMENT DUE BY: 2:00 p.m. 06/26
SUBJECT: PRESIDENTIAL REMARKS: ENTERPRISE FOR THE AMERICAS INITIATIVE
(06/25 Draft one)
ACTION FYI
ACTION FYI
VICE PRESIDENT
MCCLURE
SUNUNU
PETERSMEYER
SCOWCROFT
PORTER
DARMAN
ROGICH
BRADY
SMITH
BROMLEY
UNTERMEYER
CARD
ROGERS
DEMAREST
SNOW
FITZWATER
BOSKIN
GRAY
HOLIDAY
REMARKS:
Please forward your comments directly to Tony Snow, Rm. 122,
X2930, no later than 2:00 p.m., Wednesday, June 26, with a
copy to this office. Thank you.
RESPONSE:
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
Snow/Cawley
June 25, 1991
91 JUN 25 PM 7:12
Draft One
EAI.TS
PRESIDENTIAL STATEMENT: ENTERPRISE FOR THE AMERICAS INITIATIVE
THURSDAY, JUNE 27, 1991
4:00 P.M.
ROSE GARDEN
Secretary Brady, Ambassador Hills, Minister Foxley of Chile;
Minister DeFranco of Nicaragua, Minister Alfaro of Panama; I
could not be more pleased to have you all join me up here today.
Look at this distinguished audience!
Secretary Baker, welcome back -- for now. My good friend,
Secretary Mosbacher. Fred Zeder, John Macomber, Enrique Iglesias
of the Inter-American Development Bank. Ambassadors from the
Organization of American States, other members of the diplomatic
corps. Members of Congress -- my warmest greetings to all of you
on this historic day.
I know most of you are happy that I can't muster even warmer
greetings. 90 degrees ought to be enough for anyone. //
We've come here today to celebrate the first anniversary of
our Enterprise for the Americas Initiative. Frankly, the best
way to celebrate is to push the initiative even further.
We thought we had set some pretty ambitious goals last year,
when we announced the three-part EAI. We vowed to encourage free
trade, stimulate investment throughout the hemisphere, and reduce
the debt burden that threatens so many of our neighbors and
colleagues. But we may actually have set our sights too low.
2
In just one year, we have signed a dozen agreements under
EAI -- and we will announce three more today. We have concluded
nine separate framework agreements for trade and investment.
These agreements create councils charged with dismantling
barriers to trade and investment. The United States already has
signed a series of agreements with a large group of our
hemispheric friends: Bolivia, Brazil, Chile, Colombia, Costa
Rica, Ecuador, El Salvador, Honduras, Mexico, Peru, Venezuela and
the "southern cone" countries of Argentina, Brazil, Paraguay and
Uruguay.
On the investment front, our nations have begun inviting
investors to support new business throughout the hemisphere.
Today, we can announce that the Inter-American Development Bank
has approved its first so-called sectoral loan -- $150 million
loan to Chile. President Iglesias, I want to thank you and
congratulate everyone at the IDB for this very important move.
Under these agreements, the IDB will support efforts to replace
old mercantilist or socialist economic systems with free market
systems. Our simple goal: We want to promote the economic
off
reforms that help foster economic growth and encourage
environmental stewardship.
For years the world experimented with the fantasy that
councils of experts could "manage" economies. The utter failure
of communism demonstrated that expert cadres can no more manage
growth than they could manage the weather. Free markets reward
people who have ideas -- not just those who have connections.
3
I'm also pleased to report that my proposal for a
Multilateral Investment Fund has gotten off to a great start.
Japan has pledged $100 million for each of the next five years.
France, Spain and Canada also have expressed interest in
supporting the fund. This fund, like the sectoral loans from
IDB, will help nations throw off the shackles of authoritarian or
totalitarian economic systems, and let people throughout our
hemisphere enjoy the thrills and the blessings of open economic
competition.
ok
Pillar three of our proposal, debt reduction, also has
gotten off to a rousing start. Our idea is simple: We will do
all we can to reduce the debt burden of nations that adopt
substantial, permanent economic reform.
Congress has agreed to reduce the debt burden of nations
that liberalize their trade and investment rules, and has set
aside a fund to finance environmental projects. This ambitious,
innovative plan already has produced results.
Today the United States will sign a debt-reduction agreement
with Chile, slashing its Chilean debt under Public Law 480 by 40 percent,
to 23 million dollars.
Now, let's talk about what lies ahead. As you know,
Congress recently extended the fast-track trade procedures that
enable us to deal in good faith with you -- and with Congress --
in trade negotiations. We hope to create a free trade zone that
will cover all of North America within the next few years. But
this trade zone -- which will embrace 360 million consumers and
4
markets that produce $6 trillion in annual output
simply will
set the stage for something even more dramatic. The Enterprise
for the Americas initiative can link our entire hemisphere, with
its diverse cultures, workforces, creative forces.
We already have joined forces in the GATT talks, trying to
pull down protectionist barriers in Europe and Asia. I cannot
stress enough the importance of reaching a GATT agreement that
will provide the foundation for worldwide free and fair trade.
Without GATT, we will have great difficulty moving forward.
We live in an extraordinary place at an extraordinary time.
With the sad exception of Cuba, our hemisphere stands poised to
become the first fully democratic hemisphere in human history.
From the Northern tip of Alaska to the southernmost point of
Tiera del Fuego, we share common heritages. Our people can trace
their heritages to Spain, Portugal, Germany, Italy, Turkey,
China, Japan, England, the Arab world -- and of course, to this
continent itself. Many of your leaders have taken college
degrees here, and many of our finest experts have studied on your
soil. We share ties of culture, of blood, of common interest.
And now, as democracy sweeps the world, we share the challenge of
leadership through example.
We can lead the way to a world freed from suspicion, from
mercantilist barriers, from socialist inefficiencies by building
our own commonwealth of freedom. We can show the world just how
prosperity preserves the social order -- and the land, air, and
water as well. We can show the rest of the world that
5
deregulation, private property, low tax rates and low trade
barriers can produce vast economic returns. And we can show the
rest of the world how neighbors can compete in ways that build
upon each other's strengths, rather than preying upon their
weaknesses.
Today, I pledge my full effort to uphold the United States'
part of the EAI bargain. I will lobby hard to ensure that we
contribute our $100 million share this year to the Multilateral
Investment fund, and that we work hard to reach bilateral
agreements with all the nations of this hemisphere. I also
assure you that we will spare no effort in trying to reach ping an
acceptable GATT conclusion. I assure you that we will fight for
free and fair trade --- everywhere.
In 1876, the Brazilian Emperor Dom Pedro II visited the
United States. During a stop in St. Louis, he noticed that local
craftsmen were using only the sturdiest materials in building a
customs house. The emperor was stunned. "But an iron building
would last 400 years," he noted. "You do not mean to tell me
that there will be any custom houses in 400 years. "
Unfortunately, no one understood his point. //
We meet today to pursue Dom filled Pedro's vision of a hemisphere
shorn of customs houses and ammed with shops and trade zones.
If we can build a hemisphere devoted to freedom, one that
encourages men and women of genius to turn their great ideas into
products, deeds, services and industries; if we can build a
hemisphere in which envy must step aside to for onrushing
P
it we Can build a honisphore in which envy will
stop enterprise; aside for the bonefits that como with on urling
6
A enterprise; we can create our own New World order. We can build
a legacy of real prosperity, stability, and harmony.
We have worked miracles in one year; let us shape a
revolution in the next. Together, we can make our hemisphere
freedom's first and best home. Thank you, and God bless you.
Now, I would like to ask Minister Foxley, Minister DeFranco,
Minister Alfaro; Secretary Brady and Ambassador Hills to step
forward as they sign a debt reduction agreement with Chile; a
framework trade agreement with Nicaragua and a framework trade
agreement with Panama.
####
NATIONAL SECURITY COUNCIL
6/20/91
To: Tony Snow
From: My Lundsager
Here is a bootly upg of our
comments on the EAI rewarks
for tomorrow. You did a good job
a such short notice !
Snow/Cawley
June 25, 1991
91JUV25 9; Plf 7: 12 PM 12
Draft One
EAI.TS
PRESIDENTIAL STATEMENT: ENTERPRISE FOR THE AMERICAS INITIATIVE
THURSDAY, JUNE 27, 1991
4:00 P.M.
ROSE GARDEN
Secretary Brady, Ambassador Hills, Minister Foxley of Chile;
Minister DeFranco of Nicaragua, Minister Alfaro of Panama; I
could not be more pleased to have you all join me up here today.
Look at this distinguished audience!
Secretary Baker, welcome back -- for now. My good friend,
Secretary Mosbacher. Fred Zeder, John Macomber, Enrique Iglesias
of the Inter-American Development Bank. Ambassadors from the
Organization of American States, other members of the diplomatic
corps. Members of Congress -- my warmest greetings to all of you
on this historic day.
I know most of you are happy that I can't muster even warmer
greetings. 90 degrees ought to be enough for anyone. //
We've come here today to celebrate the first anniversary of
our Enterprise for the Americas Initiative. Frankly, the best
way to celebrate is to push the initiative even further.
We thought we had set some pretty ambitious goals last year,
when we announced the three-part EAI. We vowed to encourage free
trade, stimulate investment overwhelms throughout the hemisphere, and reduce
the debt burden that threatens] so many of our neighbors and
colleagues. But we may actually have set our sights too low.
The EAI was not developed in isolation in Washington It wor born out
of a dialogue with the leader, of Latin America and the Caribbean
fromwhich I have benefitted greatly
2
In just one year, we have signed a dozen agreements under
EAI -- and we will announce three more today. We have concluded
nine separate bilateral rahich framework agreements [for trade and Investment.
These agreements create councils charged with dismantling PROMOTING
barriers to] trade and investment. The United States already has
signed [a] series of agreements with large many group of our
hemispheric friends: Bolivia, Brazil, Chile, Colombia, Costa
Rica, Ecuador, El Salvador, Honduras, Mexico, Peru, Venezuela and
the "southern cone" countries of Argentina, Brazil, Paraguay and
Uruguay.
On the investment front, our nations have begun inviting
investors to support new business throughout the hemisphere.
Today, we can announce that the Inter-American Development Bank
investment
further has economic approved prejess its first in so-called sector loan -- $150 million to support
[lean to Chile. President Iglesias, I want to thank you and
congratulate everyone at the IDB for this very important move.
Under these agreements, the IDB will support efforts to replace
old mercantilist or socialist economic systems ideas with free market
systems. ^ Our simple goal: We want to promote the economic foreign
Chile has already done so and can point to hish levels of domatic and
reforms that help foster economic growth and encourage
investment
to demonstrate
environmental stewardship throughout the hemisplere.
the success of
For years the world experimented with the fantasy that
its oper market
policies
councils of experts could "manage" economies. The utter failure
of communism demonstrated that expert cadres can no more manage
growth than they could manage the weather. Free markets reward
people who have ideas -- not just those who have connections.
3
I'm also pleased to report that my proposal for a
Multilateral Investment Fund has gotten off to a great start.
Japan has pledged $100 million for each of the next five years.
France, Spain and Canada also have expressed interest in
supporting the fund. This fund, like the investment sectoral loans from
the
inefficier + protectionist
A
IDB, will help nations throw off the shackles of authoritarian or
totalitarian] economic systems, and let people throughout our
hemisphere enjoy the thrills and the blessings of open economic
competition.
Pillar three of our proposal, debt reduction, also has
gotten off to a rousing start. Our idea is simple: We will do
all we can to reduce the debt burden of nations that adopt
substantial, permanent economic reform.
food and
Congress has agreed to reduce the debt burden of nations
to a llow them to
use interest payments
that liberalize their trade and investment rules, and [has set
asido/a fund to finance, local environmental projects. This ambitious,
innovative plan already has produced results, results he lping to restore
investor confidence in countries with high debt.
Today the United States will sign a debt-reduction agreement
with Chile, slashing its debt under Public Law 480 by 40 percent,
to 23 million dollars. achievements are admirable. I congratulate you and
Minister Foxley, your country's democratic and economic
your countrymen.
Now, let's talk about what lies ahead. As you know,
Congress recently extended the fast-track trade procedures that
enable us to deal in good faith with you -- and with Congress --
in trade negotiations. We hope to create a free trade zone that
will cover all of North America within the next few years. But
this trade zone -- which will embrace 360 million consumers and
4
markets that produce $6 trillion in annual output -- simply will
set the stage for something even more dramatic. The Enterprise
for the Americas initiative can link our entire hemisphere, with
its diverse cultures, workforces, creative forces.
Uruguay Round
We already have joined forces in the [GATT] talks, trying to
pull down protectionist barriers in Europe and Asia. I cannot
substantial
stress enough the importance of reaching a, a GATT agreement that
will provide the foundation for worldwide free and fair trade.
a comprehensive uruguay Round trant,
Without [GATT] we will have great difficulty moving forward.
We live in an extraordinary place at an extraordinary time.
With the sad exception of Cuba, our hemisphere stands poised to
become the first fully democratic hemisphere in human history.
From the Northern tip of Alaska to the southernmost point of
Tiera del Fuego, we share common heritages. Our people can trace
their heritages to [spain, Portugal, Germany, Italy, Turkey
ALL Continuents i TW world
China, Japan, England, the Arab world and of course, to this
continent itself. Many of your leaders have taken college
degrees here, and many of our finest experts have studied on your
soil. We share ties of culture, of blood, of common interest.
And now, as democracy sweeps the world, we share the challenge of
leadership through example.
We can lead the way to a world freed from suspicion, from
mercantilist barriers, from socialist inefficiencies by building
our own commonwealth of freedom. We can show the world just how
prosperity preserves the social order -- and the land, air, and
water as well. We can show the rest of the world that
5
deregulation, private property, low tax rates and low trade
barriers can produce vast economic returns. And we can show the
rest of the world how neighbors can compete in ways that build
upon each other's strengths, rather than preying upon their
weaknesses.
Today, I pledge my full effort to uphold the United States'
WORK
part of the EAI bargain. I will baby hard to ensure that we
contribute our $100 million annual share Tenio year] to the Multilateral
AND I hope The memoses of congress hare WILL dothesame
Investment fund we work hard to reach bilateral afrainework
agreements with all the nations of this hemisphere. I also
assure you that we will spare no effort in trying to reach an
acceptable GATT conclusion. I assure you that we will fight for
free and fair trade -- everywhere. Insert
A
In 1876, the Brazilian Emperor Dom Pedro II visited the
United States. During a stop in St. Louis, he noticed that local
craftsmen were using only the sturdiest materials in building a
customs house. The emperor was stunned. "But an iron building
would last 400 years," he noted. "You do not mean to tell me
that there will be any custom houses in 400 years."
Unfortunately, no one understood his point. //
We meet today to pursue Dom Pedro's vision of a hemisphere
shorn of customs houses and jammed with shops and trade zones.
If we can build a hemisphere devoted to freedom, one that
encourages men and women of genius to turn their great ideas into
products, deeds, services and industries; if we can build a
hemisphere in which envy must step aside [to] for onrushing
6
enterprise; we can create our own New World order. We can build
a legacy of real prosperity, stability, and harmony.
We have worked miracles in one year; let us shape a
revolution in the next. Together, we can make our hemisphere
freedom's first and best home. Thank you, and God bless you.
Now, I would like to ask Minister Foxley, Minister DeFranco,
Signist
Minister Alfaro; Secretary Brady and Ambassador Hills to step
forward as they sign a debt reduction agreement with Chile; a
is
framework trade agreement with Nicaragua and a framework trade
agreement with Panama. ]
....
Document No. 24982855
WHITE HOUSE STAFFING MEMORANDUM
DATE: June 25, 1991
ACTION/CONCURRENCE/COMMENT DUE BY: 2:00 p.m. 06/26
SUBJECT:
PRESIDENTIAL REMARKS: ENTERPRISE FOR THE AMERICAS INITIATIVE
(06/25 Draft one)
ACTION FYI
ACTION FYI
VICE PRESIDENT
MCCLURE
SUNUNU
PETERSMEYER
SCOWCROFT
PORTER
DARMAN
ROGICH
BRADY
SMITH
BROMLEY
UNTERMEYER
CARD
ROGERS
DEMAREST
SNOW
FITZWATER
BOSKIN
GRAY
HOLIDAY
REMARKS:
Please forward your comments directly to Tony Snow, Rm. 122,
X2930, no later than 2:00 p.m., Wednesday, June 26, with a
copy to this office. Thank you.
RESPONSE:
cheys
Mc Clure's
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
Snow/Cawley
June 25, 1991
91 JUN 25 PM 7:12
Draft One
EAI. TS
PRESIDENTIAL STATEMENT: ENTERPRISE FOR THE AMERICAS INITIATIVE
THURSDAY, JUNE 27, 1991
4:00 P.M.
ROSE GARDEN
Secretary Brady, Ambassador Hills, Minister Foxley of Chile;
Minister DeFranco of Nicaragua, Minister Alfaro of Panama; I
could not be more pleased to have you all join me up here today.
Look at this distinguished audience!
Secretary Baker, welcome back -- for now. My good friend,
Secretary Mosbacher. Fred Zeder, John Macomber, Enrique Iglesias
of the Inter-American Development Bank. Ambassadors from the
Organization of American States, other members of the diplomatic
corps. Members of Congress -- my warmest greetings to all of you
on this historic day.
I know most of you are happy that I can't muster even warmer
greetings. 90 degrees ought to be enough for anyone. //
We've come here today to celebrate the first anniversary of
our Enterprise for the Americas Initiative. Frankly, the best
way to celebrate is to push the initiative even further.
We thought we had set some pretty ambitious goals last year,
when we announced the three-part EAI. We vowed to encourage free
trade, stimulate investment throughout the hemisphere, and reduce
the debt burden that threatens so many of our neighbors and
colleagues. But we may actually have set our sights too low.
2
In just one year, we have signed a dozen agreements under
EAI -- and we will announce three more today. We have concluded
nine separate framework agreements for trade and investment.
These agreements create councils charged with dismantling
barriers to trade and investment. The United States already has
signed a series of agreements with a large group of our
hemispheric friends: Bolivia, Brazil, Chile, Colombia, Costa
Rica, Ecuador, El Salvador, Honduras, Mexico, Peru, Venezuela and
the "southern cone" countries of Argentina, Brazil, Paraguay and
Uruguay.
On the investment front, our nations have begun inviting
investors to support new business throughout the hemisphere.
Today, we can announce that the Inter-American Development Bank
has approved its first so-called sectoral loan -- $150 million
loan to Chile. President Iglesias, I want to thank you and
congratulate everyone at the IDB for this very important move.
Under these agreements, the IDB will support efforts to replace
old mercantilist or socialist economic systems with free market
systems. Our simple goal: We want to promote the economic
reforms that help foster economic growth and encourage
environmental stewardship.
For years the world experimented with the fantasy that
councils of experts could "manage" economies. The utter failure
of communism demonstrated that expert cadres can no more manage
growth than they could manage the weather. Free markets reward
people who have ideas -- not just those who have connections.
3
our
I'm also pleased to report that my proposal for a
Multilateral Investment Fund has gotten off to a great start.
Japan has pledged $100 million for each of the next five years.
France, Spain and Canada also have expressed interest in
supporting the fund. This fund, like the sectoral loans from
IDB, will help nations throw off the shackles of authoritarian or
totalitarian economic systems, and let people throughout our
hemisphere enjoy the thrills and the blessings of open economic
competition.
Pillar three of our proposal, debt reduction, also has
gotten off to a rousing start. Our idea is simple: We will do
all we can to reduce the debt burden of nations that adopt
substantial, permanent economic reform.
Congress has agreed to reduce the debt burden of nations
We continue to work with Congress
on a
that liberalize their trade and investment rules, and set has set plan
aside a fund to finance environmental projects. This ambitious,
innovative plan already has produced results.
Today the United States will sign a debt-reduction agreement
with Chile, slashing its debt under Public Law 480 by 40 percent,
to 23 million dollars.
Now, let's talk about what lies ahead. As you know,
Congress recently extended the fast-track trade procedures that
enable us to deal in good faith with you -- and with Congress --
in trade negotiations. We hope to create a free trade zone that
will cover all of North America within the next few years. But
this trade zone -- which will embrace 360 million consumers and
4
markets that produce $6 trillion in annual output -- simply will
set the stage for something even more dramatic. The Enterprise
for the Americas initiative can link our entire hemisphere, with
its diverse cultures, workforces, creative forces.
We already have joined forces in the GATT talks, trying to
pull down protectionist barriers in Europe and Asia. I cannot
stress enough the importance of reaching a GATT agreement that
will provide the foundation for worldwide free and fair trade.
Without GATT, we will have great difficulty moving forward.
We live in an extraordinary place at an extraordinary time.
With the sad exception of Cuba, our hemisphere stands poised to
become the first fully democratic hemisphere in human history.
From the Northern tip of Alaska to the southernmost point of
Tiera del Fuego, we share common heritages. Our people can trace
their heritages to Spain, Portugal, Germany, Italy, Turkey,
China, Japan, England, the Arab world -- and of course, to this
continent itself. Many of your leaders have taken college
degrees here, and many of our finest experts have studied on your
soil. We share ties of culture, of blood, of common interest.
And now, as democracy sweeps the world, we share the challenge of
leadership through example.
We can lead the way to a world freed from suspicion, from
mercantilist barriers, from socialist inefficiencies by building
our own commonwealth of freedom. We can show the world just how
prosperity preserves the social order -- and the land, air, and
water as well. We can show the rest of the world that
5
deregulation, private property, low tax rates and low trade
barriers can produce vast economic returns. And we can show the
rest of the world how neighbors can compete in ways that build
upon each other's strengths, rather than preying upon their
weaknesses.
Today, I pledge my full effort to uphold the United States'
work
part of the EAI bargain. I will lobby hard to ensure that we
contribute our $100 million share this year to the Multilateral
Investment fund, and that we work hard to reach bilateral
agreements with all the nations of this hemisphere. I also
assure you that we will spare no effort in trying to reach an
acceptable GATT conclusion. I assure you that we will fight for
free and fair trade -- everywhere.
In 1876, the Brazilian Emperor Dom Pedro II visited the
United States. During a stop in St. Louis, he noticed that local
craftsmen were using only the sturdiest materials in building a
customs house. The emperor was stunned. "But an iron building
would last 400 years," he noted. "You do not mean to tell me
that there will be any custom houses in 400 years."
Unfortunately, no one understood his point. //
We meet today to pursue Dom Pedro's vision of a hemisphere
shorn of customs houses and jammed with shops and trade zones.
If we can build a hemisphere devoted to freedom, one that
encourages men and women of genius to turn their great ideas into
products, deeds, services and industries; if we can build a
hemisphere in which envy must step aside to for onrushing
6
enterprise; we can create our own New World order. We can build
a legacy of real prosperity, stability, and harmony.
We have worked miracles in one year; let us shape a
revolution in the next. Together, we can make our hemisphere
freedom's first and best home. Thank you, and God bless you.
Now, I would like to ask Minister Foxley, Minister DeFranco,
Minister Alfaro; Secretary Brady and Ambassador Hills to step
forward as they sign a debt reduction agreement with Chile; a
framework trade agreement with Nicaragua and a framework trade
agreement with Panama.
#
#
#
#
6218
THE WHITE HOUSE
WASHINGTON
91 JUN26 P3:24
June 26, 1991
MEMORANDUM FOR TONY SNOW
FROM:
ROGER B. PORTER
RBP
SUBJECT:
Presidential Remarks: Enterprise for the
Americas Initiative
We have reviewed the attached presidential remarks and
have noted several suggested changes on the draft. A suggested
insert for page four of the draft is also attached.
Please let us know if you have any questions or if we may
help in any other way.
CC: Phillip D. Brady
Suggested Speech Insert for Page 4
I know there is concern in some quarters that our
vision for this hemisphere will mean a drop in our
commitment to the multilateral trading system. Let me
assure you that this will not happen.
Document No. 24982855
WHITE HOUSE STAFFING MEMORANDUM
DATE: June 25, 1991
ACTION/CONCURRENCE/COMMENT DUE BY: 2:00 p.m. 06/26
SUBJECT:
PRESIDENTIAL REMARKS: ENTERPRISE FOR THE AMERICAS INITIATIVE
(06/25 Draft one)
ACTION FYI
ACTION FYI
VICE PRESIDENT
MCCLURE
SUNUNU
PETERSMEYER
SCOWCROFT
PORTER
DARMAN
ROGICH
BRADY
SMITH
BROMLEY
UNTERMEYER
CARD
ROGERS
DEMAREST
SNOW
FITZWATER
BOSKIN
GRAY
HOLIDAY
REMARKS:
Please forward your comments directly to Tony Snow, Rm. 122,
X2930, no later than 2:00 p.m., Wednesday, June 26, with a
copy to this office. Thank you.
RESPONSE:
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
Snow/Cawley
June 25, 1991
91 JUN 25 PM 7: 12
Draft One
EAI.TS
PRESIDENTIAL STATEMENT: ENTERPRISE FOR THE AMERICAS INITIATIVE
THURSDAY, JUNE 27, 1991
4:00 P.M.
ROSE GARDEN
Secretary Brady, Ambassador Hills, Minister Foxley of Chile;
Minister DeFranco of Nicaragua, Minister Alfaro of Panama; I
could not be more pleased to have you all join me up here today.
Look at this distinguished audience!
Secretary Baker, welcome back -- for now. My good friend,
Secretary Mosbacher. Fred Zeder, John Macomber, Enrique Iglesias
of the Inter-American Development Bank. Ambassadors from the
Organization of American States, other members of the diplomatic
corps. Members of Congress -- my warmest greetings to all of you
on this historic day.
I know most of you are happy that I can't muster even warmer
greetings. 90 degrees ought to be enough for anyone. //
We've come here today to celebrate the first anniversary of
our Enterprise for the Americas Initiative. Frankly, the best
way to celebrate is to push the initiative even further.
We thought we had set some pretty ambitious goals last year,
when we announced the three-part EAI. We vowed to encourage free
trade, stimulate investment throughout the hemisphere, and reduce
the debt burden that threatens so many of our neighbors and
colleagues. But we may actually have set our sights too low.
2
In just one year, we have signed a dozen agreements under
EAI -- and we will announce three more today. We have concluded
nine separate framework agreements for trade and investment.
FiNDiNa WAYS TO
These agreements create councils charged with^dismantling-l e
barriers to trade and investment. The United States already has
signed a series of agreements with a large group of our
hemispheric friends: Bolivia, Brazil, Chile, Colombia, Costa
Rica, Ecuador, El Salvador, Honduras, Mexico, Peru, Venezuela and
the "southern cone" countries of Argentina, Brazil, Paraguay and
Uruguay.
On the investment front, our nations have begun inviting
investors to support new business throughout the hemisphere.
Today, we can announce that the Inter-American Development Bank
has approved its first so-called sectoral loan -- $150 million
loan to Chile. President Iglesias, I want to thank you and
congratulate everyone at the IDB for this very important move.
Under these agreements, the IDB will support efforts to replace
old mercantilist or socialist economic systems with free market
systems. Our simple goal: We want to promote the economic
reforms that help foster economic growth and encourage
environmental stewardship.
For years the world experimented with the fantasy that
councils of experts could "manage" economies. The utter failure
of communism demonstrated that expert cadres can no more manage
growth than they could manage the weather. Free markets reward
people who have ideas -- not just those who have connections.
3
I'm also pleased to report that my proposal for a
Multilateral Investment Fund has gotten off to a great start.
Japan has pledged $100 million for each of the next five years.
France, Spain and Canada also have expressed interest in
supporting the fund. This fund, like the sectoral loans from
IDB, will help nations throw off the shackles of authoritarian or
totalitarian economic systems, and let people throughout our
hemisphere enjoy the thrills and the blessings of open economic
competition.
Pillar three of our proposal, debt reduction, also has
gotten off to a rousing start. Our idea is simple: We will do
all we can to reduce the debt burden of nations that adopt
substantial, permanent economic reform.
We Are WORKING with The Congress on our plan
Congress has agreed to reduce the debt burden of nations
that liberalize their trade and investment rules, and to set
aside a fund to is finance environmental projects. Partol This ambitious,
in place ano
innovative planAalready has produced results.
Today the United States will sign a debt-reduction agreement
with Chile, slashing its debt under Public Law 480 by 40 percent,
to 23 million dollars.
Now, let's talk about what lies ahead. As you know,
Congress recently extended the fast-track trade procedures that
enable us to deal in good faith with you -- and with Congress --
in trade negotiations. We hope to create a free trade zone that
will cover all of North America within the next few years. But
this trade zone -- which will embrace 360 million consumers and
4
more than
markets that produce ^$6 trillion in annual output -- simply will
set the stage for something even more dramatic. The Enterprise
for the Americas initiative can link our entire hemisphere, with
its diverse cultures, workforces, creative forces.
[INSERT] We already have joined forces in the GATT talks, trying to
[
pull down protectionist barriers in Europe and Asia. I cannot
stress enough the importance of reaching a GATT agreement that
will provide the foundation for worldwide free and fair trade.
Without GATT, we will have great difficulty moving forward.
We live in an extraordinary place at an extraordinary time.
With the sad exception of Cuba, our hemisphere stands poised to
become the first fully democratic hemisphere in human history.
From the Northern tip of Alaska to the southernmost point of
Tiera del Fuego, we share common heritages. Our people can trace
their heritages to Spain, Portugal, Germany, Italy, Turkey,
China, Japan, England, the Arab world -- and of course, to this
continent itself. Many of your leaders have taken college
degrees here, and many of our finest experts have studied on your
soil. We share ties of culture, of blood, of common interest.
And now, as democracy sweeps the world, we share the challenge of
leadership through example.
We can lead the way to a world freed from suspicion, from
mercantilist barriers, from socialist inefficiencies by building
our own commonwealth of freedom. We can show the world just how
prosperity preserves the social order -- and the land, air, and
water as well. We can show the rest of the world that
5
deregulation, private property, low tax rates and low trade
barriers can produce vast economic returns. And we can show the
rest of the world how neighbors can compete in ways that build
upon each other's strengths, rather than preying upon their
weaknesses.
Today, I pledge my full effort to uphold the United States'
part of the EAI bargain. I will lobby hard to ensure that we
contribute our $100 million share this year to the Multilateral
Investment fund, and that we work hard to reach bilateral
agreements with all the nations of this hemisphere. I also
assure you that we will spare no effort in trying to reach an
acceptable GATT conclusion. I assure you that we will fight for
free and fair trade -- everywhere.
In 1876, the Brazilian Emperor Dom Pedro II visited the
United States. During a stop in St. Louis, he noticed that local
craftsmen were using only the sturdiest materials in building a
customs house. The emperor was stunned. "But an iron building
would last 400 years,' he noted. "You do not mean to tell me
that there will be any custom houses in 400 years.'
Unfortunately, no one understood his point. //
We meet today to pursue Dom Pedro's vision of a hemisphere
shorn of customs houses and jammed with shops and trade zones.
If we can build a hemisphere devoted to freedom, one that
encourages men and women of genius to turn their great ideas into
products, deeds, services and industries; if we can build a
hemisphere in which envy must step aside to for onrushing
6
enterprise; we can create our own New World order. We can build
a legacy of real prosperity, stability, and harmony.
We have worked miracles in one year; let us shape a
revolution in the next. Together, we can make our hemisphere
freedom's first and best home. Thank you, and God bless you.
Now, I would like to ask Minister Foxley, Minister DeFranco,
Minister Alfaro; Secretary Brady and Ambassador Hills to step
forward as they sign a debt reduction agreement with Chile; a
framework trade agreement with Nicaragua and a framework trade
agreement with Panama.
#
#
#
#
Document No. 24982855
WHITE HOUSE STAFFING MEMORANDUM
91 JUN 26 P3:24 P
DATE: June 25, 1991
ACTION/CONCURRENCE/COMMENT DUE BY: 2:00 p.m. 06/26
SUBJECT:
PRESIDENTIAL REMARKS: ENTERPRISE FOR THE AMERICAS INITIATIVE
(06/25 Draft one)
ACTION FYI
ACTION FYI
VICE PRESIDENT
MCCLURE
SUNUNU
PETERSMEYER
SCOWCROFT
PORTER
DARMAN
ROGICH
BRADY
SMITH
BROMLEY
UNTERMEYER
CARD
ROGERS
DEMAREST
SNOW
FITZWATER
BOSKIN
GRAY
HOLIDAY
REMARKS:
Please forward your comments directly to Tony Snow, Rm. 122,
X2930, no later than 2:00 p.m., Wednesday, June 26, with a
copy to this office. Thank you.
RESPONSE: See comment
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
Snow/Cawley
June 25, 1991
91 JUN 25 PM 7:12
Draft One
EAI.TS
PRESIDENTIAL STATEMENT: ENTERPRISE FOR THE AMERICAS INITIATIVE
THURSDAY, JUNE 27, 1991
4:00 P.M.
ROSE GARDEN
Secretary Brady, Ambassador Hills, Minister Foxley of Chile;
Minister DeFranco of Nicaragua, Minister Alfaro of Panama; I
could not be more pleased to have you all join me up here today.
Look at this distinguished audience!
Secretary Baker, welcome back -- for now. My good friend,
Secretary Mosbacher. Fred Zeder, John Macomber, Enrique Iglesias
of the Inter-American Development Bank. Ambassadors from the
Organization of American States, other members of the diplomatic
corps. Members of Congress -- my warmest greetings to all of you
on this historic day.
I know most of you are happy that I can't muster even warmer
greetings. 90 degrees ought to be enough for anyone. //
We've come here today to celebrate the first anniversary of
our Enterprise for the Americas Initiative. Frankly, the best
way to celebrate is to push the initiative even further.
We thought we had set some pretty ambitious goals last year,
when we announced the three-part EAI. We vowed to encourage free
trade, stimulate investment throughout the hemisphere, and reduce
the debt burden that threatens so many of our neighbors and
colleagues. But we may actually have set our sights too low.
2
In just one year, we have signed a dozen agreements under
EAI -- and we will announce three more today. We have concluded
nine separate framework agreements for trade and investment.
These agreements create councils charged with dismantling
barriers to trade and investment. The United States already has
signed a series of agreements with a large group of our
hemispheric friends: Bolivia, Brazil, Chile, Colombia, Costa
Rica, Ecuador, El Salvador, Honduras, Mexico, Peru, Venezuela and
the "southern cone" countries of Argentina, Brazil, Paraguay and
Uruguay.
On the investment front, our nations have begun inviting
investors to support new business throughout the hemisphere.
Today, we can announce that the Inter-American Development Bank
has approved its first so-called sectoral loan -- $150 million
loan to Chile. President Iglesias, I want to thank you and
congratulate everyone at the IDB for this very important move.
Under these agreements, the IDB will support efforts to replace
old mercantilist or socialist economic systems with free market
systems. Our simple goal: We want to promote the economic
reforms that help foster economic growth and encourage
environmental stewardship.
For years the world experimented with the fantasy that
councils of experts could "manage" economies. The utter failure
of communism demonstrated that expert cadres can no more manage
growth than they could manage the weather. Free markets reward
people who have ideas -- not just those who have connections.
3
I'm also pleased to report that my proposal for a
Multilateral Investment Fund has gotten off to a great start.
Japan has pledged $100 million for each of the next five years.
France, Spain and Canada also have expressed interest in
supporting the fund. This fund, like the sectoral loans from
IDB, will help nations throw off the shackles of authoritarian or
totalitarian economic systems, and let people throughout our
hemisphere enjoy the thrills and the blessings of open economic
competition.
Pillar three of our proposal, debt reduction, also has
gotten off to a rousing start. Our idea is simple: We will do
all we can to reduce the debt burden of nations that adopt
substantial, permanent economic reform.
Congress has agreed to reduce the debt burden of nations
that liberalize their trade and investment rules, and has set
aside a fund to finance environmental projects. This ambitious,
innovative plan already has produced results.
Today the United States will sign a debt-reduction agreement
with Chile, slashing its debt under Public Law 480 by 40 percent,
to 23 million dollars.
Now, let's talk about what lies ahead. As you know,
Congress recently extended the fast-track trade procedures that
enable us to deal in good faith with you -- and with Congress --
in trade negotiations. We hope to create a free trade zone that
will cover all of North America within the next few years. But
this trade zone -- which will embrace 360 million consumers and
4
markets that produce $6 trillion in annual output -- simply will
set the stage for something even more dramatic. The Enterprise
for the Americas initiative can link our entire hemisphere, with
its diverse cultures, workforces, creative forces.
We already have joined forces in the GATT talks, trying to
pull down protectionist barriers in Europe and Asia. I cannot
stress enough the importance of reaching a GATT agreement that
will provide the foundation for worldwide free and fair trade.
Without GATT, we will have great difficulty moving forward.
We live in an extraordinary place at an extraordinary time.
With the sad exception of Cuba, our hemisphere stands poised to
become the first fully democratic hemisphere in human history.
From the Northern tip of Alaska to the southernmost point of
Tiera del Fuego, we share common heritages. Our people can trace
their heritages to Spain, Portugal, Germany, Italy, Turkey,
China, Japan, England, the Arab world -- and of course, to this
continent itself. Many of your leaders have taken college
degrees here, and many of our finest experts have studied on your
soil. We share ties of culture, of blood, of common interest.
And now, as democracy sweeps the world, we share the challenge of
leadership through example.
We can lead the way to a world freed from suspicion, from
mercantilist barriers, from socialist inefficiencies by building
our own commonwealth of freedom. We can show the world just how
prosperity preserves the social order -- and the land, air, and
water as well. We can show the rest of the world that
I will WORK to gain the necessary Congressional
authorization and appropriation to reduce delet
5
deregulation, private property, low tax rates and low trade
barriers can produce vast economic returns. And we can show the
rest of the world how neighbors can compete in ways that build
upon each other's strengths, rather than preying upon their
weaknesses.
Today, I pledge my full effort to uphold the United States'
part of the EAI bargain. I will lobby hard to ensure that we
contribute our $100 million share this year to the Multilateral
3192
X4657
Investment fund, and that we work hard to reach bilateral
together will
agreements with all the nations of this hemisphere. I also
assure you that we will spare no effort in trying to reach an
acceptable GATT conclusion. I assure you that we will fight for
free and fair trade -- everywhere.
In 1876, the Brazilian Emperor Dom Pedro II visited the
United States. During a stop in St. Louis, he noticed that local
craftsmen were using only the sturdiest materials in building a
customs house. The emperor was stunned. "But an iron building
would last 400 years," he noted. "You do not mean to tell me
that there will be any custom houses in 400 years."
Unfortunately, no one understood his point. //
We meet today to pursue Dom Pedro's vision of a hemisphere
shorn of customs houses and jammed with shops and trade zones.
If we can build a hemisphere devoted to freedom, one that
encourages men and women of genius to turn their great ideas into
products, deeds, services and industries; if we can build a
hemisphere in which envy must step aside to for onrushing
6
enterprise; we can create our own New World order. We can build
a legacy of real prosperity, stability, and harmony.
We have worked miracles in one year; let us shape a
revolution in the next. Together, we can make our hemisphere
freedom's first and best home. Thank you, and God bless you.
Now, I would like to ask Minister Foxley, Minister DeFranco,
Minister Alfaro; Secretary Brady and Ambassador Hills to step
forward as they sign a debt reduction agreement with Chile; a
framework trade agreement with Nicaragua and a framework trade
agreement with Panama.
#
#
#
#
Document No. 24982855
WHITE 59 HOUSE STAFFING MEMORANDUM
gl JUN26
DATE: June 25, 1991
ACTION/CONCURRENCE/COMMENT DUE BY: 2:00 p.m. 06/26
SUBJECT:
PRESIDENTIAL REMARKS: ENTERPRISE FOR THE AMERICAS INITIATIVE
(06/25 Draft one)
ACTION FYI
ACTION FYI
VICE PRESIDENT
MCCLURE
SUNUNU
PETERSMEYER
SCOWCROFT
PORTER
DARMAN
ROGICH
BRADY
SMITH
BROMLEY
UNTERMEYER
CARD
ROGERS
DEMAREST
SNOW
FITZWATER
BOSKIN
GRAY
HOLIDAY
REMARKS:
Please forward your comments directly to Tony Snow, Rm. 122,
X2930, no later than 2:00 p.m., Wednesday, June 26, with a
copy to this office. Thank you. .
RESPONSE:
OK.S.R.
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
Snow/Cawley
June 25, 1991
91 JUN 25 PM 7: 12
Draft One
EAI.TS
PRESIDENTIAL STATEMENT: ENTERPRISE FOR THE AMERICAS INITIATIVE
THURSDAY, JUNE 27, 1991
4:00 P.M.
ROSE GARDEN
Secretary Brady, Ambassador Hills, Minister Foxley of Chile;
Minister DeFranco of Nicaragua, Minister Alfaro of Panama; I
could not be more pleased to have you all join me up here today.
Look at this distinguished audience!
Secretary Baker, welcome back -- for now. My good friend,
Secretary Mosbacher. Fred Zeder, John Macomber, Enrique Iglesias
of the Inter-American Development Bank. Ambassadors from the
Organization of American States, other members of the diplomatic
corps. Members of Congress -- my warmest greetings to all of you
on this historic day.
I know most of you are happy that I can't muster even warmer
greetings. 90 degrees ought to be enough for anyone. //
We've come here today to celebrate the first anniversary of
our Enterprise for the Americas Initiative. Frankly, the best
way to celebrate is to push the initiative even further.
We thought we had set some pretty ambitious goals last year,
when we announced the three-part EAI. We vowed to encourage free
trade, stimulate investment throughout the hemisphere, and reduce
the debt burden that threatens so many of our neighbors and
colleagues. But we may actually have set our sights too low.
2
In just one year, we have signed a dozen agreements under
EAI -- and we will announce three more today. We have concluded
nine separate framework agreements for trade and investment.
These agreements create councils charged with dismantling
barriers to trade and investment. The United States already has
signed a series of agreements with a large group of our
hemispheric friends: Bolivia, Brazil, Chile, Colombia, Costa
Rica, Ecuador, El Salvador, Honduras, Mexico, Peru, Venezuela and
the "southern cone" countries of Argentina, Brazil, Paraguay and
Uruguay.
On the investment front, our nations have begun inviting
investors to support new business throughout the hemisphere.
Today, we can announce that the Inter-American Development Bank
has approved its first so-called sectoral loan -- $150 million
loan to Chile. President Iglesias, I want to thank you and
congratulate everyone at the IDB for this very important move.
Under these agreements, the IDB will support efforts to replace
old mercantilist or socialist economic systems with free market
systems. Our simple goal: We want to promote the economic
reforms that help foster economic growth and encourage
environmental stewardship.
For years the world experimented with the fantasy that
councils of experts could "manage" economies. The utter failure
of communism demonstrated that expert cadres can no more manage
growth than they could manage the weather. Free markets reward
people who have ideas -- not just those who have connections.
3
I'm also pleased to report that my proposal for a
Multilateral Investment Fund has gotten off to a great start.
Japan has pledged $100 million for each of the next five years.
France, Spain and Canada also have expressed interest in
supporting the fund. This fund, like the sectoral loans from
IDB, will help nations throw off the shackles of authoritarian or
totalitarian economic systems, and let people throughout our
hemisphere enjoy the thrills and the blessings of open economic
competition.
Pillar three of our proposal, debt reduction, also has
gotten off to a rousing start. Our idea is simple: We will do
all we can to reduce the debt burden of nations that adopt
substantial, permanent economic reform.
Congress has agreed to reduce the debt burden of nations
that liberalize their trade and investment rules, and has set
aside a fund to finance environmental projects. This ambitious,
innovative plan already has produced results.
Today the United States will sign a debt-reduction agreement
with Chile, slashing its debt under Public Law 480 by 40 percent,
to 23 million dollars.
Now, let's talk about what lies ahead. As you know,
Congress recently extended the fast-track trade procedures that
enable us to deal in good faith with you -- and with Congress --
in trade negotiations. We hope to create a free trade zone that
will cover all of North America within the next few years. But
this trade zone -- which will embrace 360 million consumers and
4
markets that produce $6 trillion in annual output -- simply will
set the stage for something even more dramatic. The Enterprise
for the Americas initiative can link our entire hemisphere, with
its diverse cultures, workforces, creative forces.
We already have joined forces in the GATT talks, trying to
pull down protectionist barriers in Europe and Asia. I cannot
stress enough the importance of reaching a GATT agreement that
will provide the foundation for worldwide free and fair trade.
Without GATT, we will have great difficulty moving forward.
We live in an extraordinary place at an extraordinary time.
With the sad exception of Cuba, our hemisphere stands poised to
become the first fully democratic hemisphere in human history.
From the Northern tip of Alaska to the southernmost point of
Tiera del Fuego, we share common heritages. Our people can trace
their heritages to Spain, Portugal, Germany, Italy, Turkey,
China, Japan, England, the Arab world -- and of course, to this
continent itself. Many of your leaders have taken college
degrees here, and many of our finest experts have studied on your
soil. We share ties of culture, of blood, of common interest.
And now, as democracy sweeps the world, we share the challenge of
leadership through example.
We can lead the way to a world freed from suspicion, from
mercantilist barriers, from socialist inefficiencies by building
our own commonwealth of freedom. We can show the world just how
prosperity preserves the social order -- and the land, air, and
water as well. We can show the rest of the world that
5
deregulation, private property, low tax rates and low trade
barriers can produce vast economic returns. And we can show the
rest of the world how neighbors can compete in ways that build
upon each other's strengths, rather than preying upon their
weaknesses.
Today, I pledge my full effort to uphold the United States'
part of the EAI bargain. I will lobby hard to ensure that we
contribute our $100 million share this year to the Multilateral
Investment fund, and that we work hard to reach bilateral
agreements with all the nations of this hemisphere. I also
assure you that we will spare no effort in trying to reach an
acceptable GATT conclusion. I assure you that we will fight for
free and fair trade -- everywhere.
In 1876, the Brazilian Emperor Dom Pedro II visited the
United States. During a stop in St. Louis, he noticed that local
craftsmen were using only the sturdiest materials in building a
customs house. The emperor was stunned. "But an iron building
would last 400 years,' he noted. "You do not mean to tell me
that there will be any custom houses in 400 years.
Unfortunately, no one understood his point. //
We meet today to pursue Dom Pedro's vision of a hemisphere
shorn of customs houses and jammed with shops and trade zones.
If we can build a hemisphere devoted to freedom, one that
encourages men and women of genius to turn their great ideas into
products, deeds, services and industries; if we can build a
hemisphere in which envy must step aside to for onrushing
6
enterprise; we can create our own New World order. We can build
a legacy of real prosperity, stability, and harmony.
We have worked miracles in one year; let us shape a
revolution in the next. Together, we can make our hemisphere
freedom's first and best home. Thank you, and God bless you.
Now, I would like to ask Minister Foxley, Minister DeFranco,
Minister Alfaro; Secretary Brady and Ambassador Hills to step
forward as they sign a debt reduction agreement with Chile; a
framework trade agreement with Nicaragua and a framework trade
agreement with Panama.
#
#
#
#
THE WHITE HOUSE
WASHINGTON
91 JUN 26 P2: 28
June 26, 1991
MEMORANDUM FOR TONY SNOW
FROM:
STEPHEN G. RADEMAKER SR
ASSOCIATE COUNSEL TO THE PRESIDENT
SUBJECT:
Presidential Remarks: Enterprise for the Americas
Initiative
Pursuant to Phillip Brady's request, Counsel's Office has
reviewed the above-referenced matter and has no objection,
subject to the changes indicated on the attached.
Thank you for bringing this matter to our attention.
Attachment
CC: Phillip D. Brady
Document No. 24982855
COUNSEL'S OFFICE
WHITE HOUSE STAFFING MEMORANDUM RECEIVED
JUN 26 1991
DATE: June 25, 1991
ACTION/CONCURRENCE/COMMENT DUE BY: 2:00 p.m. 06/26
SUBJECT:
PRESIDENTIAL REMARKS: ENTERPRISE FOR THE AMERICAS INITIATIVE
(06/25 Draft one)
ACTION FYI
ACTION FYI
VICE PRESIDENT
MCCLURE
SUNUNU
PETERSMEYER
SCOWCROFT
PORTER
DARMAN
ROGICH
BRADY
SMITH
BROMLEY
UNTERMEYER
CARD
ROGERS
DEMAREST
SNOW
FITZWATER
BOSKIN
GRAY
HOLIDAY
REMARKS:
Please forward your comments directly to Tony Snow, Rm. 122,
X2930, no later than 2:00 p.m., Wednesday, June 26, with a
copy to this office. Thank you.
RESPONSE:
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
Snow/Cawley
June 25, 1991
91 JUN 25 PM 7:12
Draft One
EAI.TS
PRESIDENTIAL STATEMENT: ENTERPRISE FOR THE AMERICAS INITIATIVE
THURSDAY, JUNE 27, 1991
4:00 P.M.
ROSE GARDEN
Secretary Brady, Ambassador Hills, Minister Foxley of Chile;
Minister DeFranco of Nicaragua, Minister Alfaro of Panama; I
could not be more pleased to have you all join me up here today.
Look at this distinguished audience!
Secretary Baker, welcome back -- for now. My good friend,
Secretary Mosbacher. Fred Zeder, John Macomber, Enrique Iglesias
of the Inter-American Development Bank. Ambassadors from the
Organization of American States, other members of the diplomatic
corps. Members of Congress -- my warmest greetings to all of you
on this historic day.
I know most of you are happy that I can't muster even warmer
greetings. 90 degrees ought to be enough for anyone. //
We've come here today to celebrate the first anniversary of
our Enterprise for the Americas Initiative. Frankly, the best
way to celebrate is to push the initiative even further.
We thought we had set some pretty ambitious goals last year,
when we announced the three-part EAI. We vowed to encourage free
trade, stimulate investment throughout the hemisphere, and reduce
the debt burden that threatens so many of our neighbors and
colleagues. But we may actually have set our sights too low.
2
In just one year, we have signed a dozen agreements under
EAI -- and we will announce three more today. We have concluded
nine separate framework agreements for trade and investment.
These agreements create councils charged with dismantling
barriers to trade and investment. The United States already has
signed a series of agreements with a large group of our
hemispheric friends: Bolivia, Brazil, Chile, Colombia, Costa
Rica, Ecuador, El Salvador, Honduras, Mexico, Peru, Venezuela and
the "southern cone" countries of Argentina, Brazil, Paraguay and
Uruguay.
On the investment front, our nations have begun inviting
investors to support new business throughout the hemisphere.
Today, we can announce that the Inter-American Development Bank
a
has approved its first so-called sectoral loan --^$150 million
loan to Chile. President Iglesias, I want to thank you and
congratulate everyone at the IDB for this very important move.
Under these agreements, the IDB will support efforts to replace
old mercantilist or socialist economic systems with free market
systems. Our simple goal: We want to promote the economic
reforms that help foster economic growth and encourage
environmental stewardship.
For years the world experimented with the fantasy that
councils of experts could "manage" economies. The utter failure
of communism demonstrated that expert cadres can no more manage
growth than they could manage the weather. Free markets reward
people who have ideas -- not just those who have connections.
3
I'm also pleased to report that my proposal for a
Multilateral Investment Fund has gotten off to a great start.
Japan has pledged $100 million for each of the next five years.
France, Spain and Canada also have expressed interest in
supporting the fund. This fund, like the sectoral loans from
IDB, will help nations throw off the shackles of authoritarian or
totalitarian economic systems, and let people throughout our
hemisphere enjoy the thrills and the blessings of open economic
competition.
Pillar three of our proposal, debt reduction, also has
gotten off to a rousing start. Our idea is simple: We will do
all we can to reduce the debt burden of nations that adopt
substantial, permanent economic reform.
Congress has agreed to reduce the debt burden of nations
that liberalize their trade and investment rules, and has set
aside a fund to finance environmental projects. This ambitious,
innovative plan already has produced results.
Today the United States will sign a debt-reduction agreement
with Chile, slashing its debt under Public Law 480 by 40 percent,
to 23 million dollars.
Now, let's talk about what lies ahead. As you know,
voted not to terminate
Congress recently extended the fast-track trade procedures that
enable us to deal in good faith with you -- and with Congress --
in trade negotiations. We hope to create a free trade zone that
will cover all of North America within the next few years. But
this trade zone -- which will embrace 360 million consumers and
4
markets that produce $6 trillion in annual output -- simply will
set the stage for something even more dramatic. The Enterprise
for the Americas initiative can link our entire hemisphere, with
its diverse cultures, workforces, creative forces.
We already have joined forces in the GATT talks, trying to
pull down protectionist barriers in Europe and Asia. I cannot
stress enough the importance of reaching a GATT agreement that
will provide the foundation for worldwide free and fair trade.
Without GATT, we will have great difficulty moving forward.
We live in an extraordinary place at an extraordinary time.
With the sad exception of Cuba, our hemisphere stands poised to
become the first fully democratic hemisphere in human history.
From the Northern tip of Alaska to the southernmost point of
Tiera del Fuego, we share common heritages. Our people can trace
their heritages to Spain, Portugal, Germany, Italy, Turkey,
China, Japan, England, the Arab world -- and of course, to this
continent itself. Many of your leaders have taken college
degrees here, and many of our finest experts have studied on your
soil. We share ties of culture, of blood, of common interest.
And now, as democracy sweeps the world, we share the challenge of
leadership through example.
We can lead the way to a world freed from suspicion, from
mercantilist barriers, from socialist inefficiencies by building
our own commonwealth of freedom. We can show the world just how
prosperity preserves the social order -- and the land, air, and
water as well. We can show the rest of the world that
5
deregulation, private property, low tax rates and low trade
barriers can produce vast economic returns. And we can show the
rest of the world how neighbors can compete in ways that build
upon each other's strengths, rather than preying upon their
weaknesses.
Today, I pledge my full effort to uphold the United States'
part of the EAI bargain. I will lobby hard to ensure that we
contribute our $100 million share this year to the Multilateral
Investment fund, and that we work hard to reach bilateral
agreements with all the nations of this hemisphere. I also
assure you that we will spare no effort in trying to reach an
acceptable GATT conclusion. I assure you that we will fight for
free and fair trade -- everywhere.
In 1876, the Brazilian Emperor Dom Pedro II visited the
United States. During a stop in St. Louis, he noticed that local
craftsmen were using only the sturdiest materials in building a
customs house. The emperor was stunned. "But an iron building
would last 400 years, he noted. "You do not mean to tell me
that there will be any custom houses in 400 years."
Unfortunately, no one understood his point.
We meet today to pursue Dom Pedro's vision of a hemisphere
shorn of customs houses and jammed with shops and trade zones.
If we can build a hemisphere devoted to freedom, one that
encourages men and women of genius to turn their great ideas into
products, deeds, services and industries; if we can build a
hemisphere in which envy must step aside to for onrushing
6
enterprise; we can create our own New World order. We can build
a legacy of real prosperity, stability, and harmony.
We have worked miracles in one year; let us shape a
revolution in the next. Together, we can make our hemisphere
freedom's first and best home. Thank you, and God bless you.
Now, I would like to ask Minister Foxley, Minister DeFranco,
Minister Alfaro; Secretary Brady and Ambassador Hills to step
forward as they sign a debt reduction agreement with Chile; a
framework trade agreement with Nicaragua and a framework trade
agreement with Panama.
#
#
#
#