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7344718
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Text of a Statement by the President to be Delivered at the Conclusion of the International Conference in Puerto Rico [Ford Speech or Statement]
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7344718
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document
title
Text of a Statement by the President to be Delivered at the Conclusion of the International Conference in Puerto Rico [Ford Speech or Statement]
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White House Press Releases (Ford Administration)
Press Releases
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7344718
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28
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1976-06-28
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6
year
1976
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c80fc5749e52ead6
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Digitized from Box 28 of the White House Press Releases at the Gerald R. Ford Presidential Library
EMBARGOED FOR RELEASE
JUNE 28, 1976
UNTIL DELIVERED
Office of the White House Press Secretary
(Dorado Beach, Puerto Rico)
THE WHITE HCUSE
TEXT CF A STATEMENT BY THE PRESIDENT
TC BE DELIVERED AT THE CONCLUSION
CF THE
INTERNATIONAL CONFERENCE IN PUERTC RICO
We have just concluded two days of very productive discussions on a number
of issues of great importance to us all. Cur talks were characterized by
a seriousness of purpose, a firm desire to improve our understanding of
one another's views, and a common commitment to strengthen constructive
cooperation among all nations.
During the course of our discussions we reached agreement in several
significant areas. These are set out in the declaration we have just adopted.
First, we are confident about the future economic and financial outlook for
our countries. All of us are committed to achieving sustainable growth which
will reduce unemployment without jeopardizing our common airh of avoiding a
new wave of inflation. We recognize that the sustained economic expansion
we seek and the resultant increase in individual well-being cannot be
achieved in the context of high inflation rates.
We agreed that our objective of monetary stability must not be undermined
by the strains of financing payments imbalances. Each nation should manage
its economy and its international monetary affairs so as to correct or avoid
persistent or structural internat ional payments imbalances.
We have recognized that problems may arise for a few developed countries
which have special needs, which' have not yet restored deomestic economic
stability, and which face major payments deficits. We agreed that if
assistance in financing transitory balance of payments deficits is necessary
to avoid general disruptions in economic growth, it can best be provided
by multilateral means, in conjunction with a firm program for restoring
underlying equilibrium.
The industrialized democracies can be most successful in helping developing
nations by agreeing on, and working together to implement, sound solutions
to their own problems solutions which enhance the efficient operation of the
international economy. Our efforts must be mutually supportive rather tha n
competitive. We remain determined to continue the dialogue with the
developing countries to achieve concrete results.
We agreed on the importance of maintaining a liberal climate for the flow
of international investment.
We agreed to examine carefully the various aspects of East-West economic
contacts so that they enhance overall East-West relations.
Together, the results of our discussions represent a significant step forward
in cooperation among the industrial democracies. They establish positive
directions which will benefit not only our peoples but the international economy
as a whole.
(MORE)
-2-
In conclusion, let me add a personal note. I was greatly impressed with the
candid and friendly atmosphere here. Our countries have come through a
difficult period. Cur cooperation during this period has not only contributed
to the resolution of problems, but has in fact significantly strengthened
relations among our countries and among the industrialized democracies
as a whole.
We can be proud of this record and of our nations' abilities to meet the severe
challenges we have faced. In my view, the spirit of Rambouillet which was
carried forward to these meetings in Puerto Rico has strengthened prospects
for progress by the industrialized democracies in a number of key areas.
If we nurture the sense of common purpose and vision which has characterized
these discussions, we have an opportunity to shape events and better meet
the needs of our citizens and all the world.
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