[Congressional Record Volume 141, Number 169 (Monday, October 30, 1995)]
[Extensions of Remarks]
[Page E2069]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




              CONGRATULATIONS TO THE GOVERNMENT OF PANAMA

                                 ______


                          HON. BILL RICHARDSON

                             of new mexico

                    in the house of representatives

                        Monday, October 30, 1995

  Mr. RICHARDSON. Mr. Speaker, I had the privilege of meeting President 
Ernesto Perez Balladares of Panama for the first time last week. The 
occasion was a meeting hosted by Enrique Iglesias, president of the 
IDB, at which many senior level representatives of the U.S. Government 
agencies that closely follow the affairs of our two countries were 
present, as well as senior officials from the international financial 
institutions.
  The feeling around the table was unanimous that the structural 
economic achievements obtained by President Perez Balladares' 
administration, after only 1 year in office, were considerable, 
particularly in terms of modernizing and opening up Panama's economy to 
private domestic and foreign investment.
  These include modern legislation to streamline and level the playing 
field in terms of tax regulations and incentives; considerable 
flexibilization of heretofore rigid labor laws, and increased 
participation by the private sector in the key areas of 
telecommunications, energy, water supply, and ports. Increased 
investment in these areas are crucial for the successful implementation 
of the Panama Canal Treaties to which our two governments are fully 
committed.
  Indeed, we heard as well from the Under Secretary of the Army, who is 
also Chairman of the Panama Canal Commission, a very positive report 
regarding the growing participation of Panamanians in the management 
and operation of the canal. I also took note of ongoing major capital 
investment projects designed to guarantee the future of the canal, in 
particular the widening of the Culebra Cut. It is fully financed from 
increases in revenues from canal operations that have taken place made 
over the last few years.
  By treaty rights, Mr. Speaker, these revenues belong to Panama, and 
could have easily been used by the Panamanian Government for other much 
needed investments in social and economic development projects; 
instead, they have been allocated in a conscious and, in my view, 
responsible decision by the Perez Balladares administration, to 
maintain and improve the viability of the canal well into the next 
century.
  I wish to share with my colleagues my personal congratulations to the 
Government of Panama, and particularly to its President, Mr. Ernesto 
Perez Balladares, for its courageous and decided leadership in the 
hemisphere; particularly on such difficult issues as the war on drugs; 
for I also note from very recent media and intelligence reports of 
continuing and large seizures by his government of shipments of illicit 
substances destined for our shores. These actions and other strong 
measures to control and prevent money laundering, I might add, are 
being carried out in full cooperation with U.S. Government agencies and 
those of other governments.
  I am confident that the United States and Panama will continue to 
strengthen their relations as we enter delicate exploratory talks on 
some sort of presence of our military in the Isthmus after the year 
2000. I took the opportunity to tell the distinguished President of 
Panama that I support such a presence, Mr. Speaker, and that the 
Congress will do its part to support any efforts to strengthen the ties 
that bind our two nations.

                          ____________________