[Public Papers of the Presidents of the United States: George H. W. Bush (1992, Book I)]
[May 13, 1992]
[Page 765]
[From the U.S. Government Publishing Office www.gpo.gov]



Statement by Press Secretary Fitzwater on the President's Meeting With 
President Patricio Aylwin of Chile

May 13, 1992
    In their discussions today, President Bush and President Aylwin 
stressed their joint commitment to free trade throughout the hemisphere 
as envisioned in the President's Enterprise for the Americas Initiative. 
President Aylwin told the President that the long-term vision of the EAI 
is very important to Latin America and described it as the first chance 
for a genuine partnership between Latin America and the United States 
based on free trade.
    As a result of these discussions and in recognition of Chile's 
economic achievements, the President decided today that the United 
States intends to negotiate a comprehensive free trade agreement with 
Chile upon completion of the North American free trade agreement, and he 
intends to send notification to the Congress, pursuant to fast track 
procedures, at that time.
    United States exports to Chile increased to $1.582 billion in 1991, 
including products such as mining machinery, computers, and 
telecommunications equipment.
    Chile was the first in Latin America to receive bilateral debt 
reduction and an investment sector loan under the Enterprise for the 
Americas Initiative. By moving forward on free trade, Chile will be the 
first nation in South America to participate in the trade benefits of 
EAI.
    The two Presidents also took note of the challenges to democratic 
processes in Haiti, Peru, and Venezuela and reaffirmed their strong 
commitment to support and defend democracy in the hemisphere through the 
OAS.