[Public Papers of the Presidents of the United States: George H. W. Bush (1992-1993, Book II)]
[December 18, 1992]
[Pages 2203-2204]
[From the U.S. Government Publishing Office www.gpo.gov]



Remarks Following Discussions With European Community Leaders
December 18, 1992

    Today's discussions with Prime Minister Major and President Delors 
mark our fifth meeting since we agreed to these semiannual consultations 
with the European Community. And the frequency of these meetings is a 
sign of their vital importance for the world trading system, for our own 
economic well-being, and for meeting the challenges of the new world. 
And this morning we covered a broad agenda reflecting the many interests 
that we share in global partnership.
    On trade, we are of one mind. We agreed that a sound Uruguay round 
agreement is essential to boost worldwide economic growth. And we all 
agreed to conclude the GATT agreement in Geneva by mid-January. We've 
instructed our negotiators to work together to this end. And we're 
committed not only to resolving the differences remaining among 
ourselves but also to encouraging Japan and other countries to join us 
in an energetic effort to bring the negotiations to a successful 
conclusion.
    I continue to believe that for the people of Europe as well as of 
the United States, free and open trade is the key to expanding 
prosperity. And a successful Uruguay round could result in over $5 
trillion in increased world output over the next 10 years. Our estimate 
suggests that the European Community's gains would amount to about $1.4 
trillion, and the United States would benefit from a boost of $1.1 
trillion in that period. Clearly these tremendous gains would promote 
the well-being of all of our citizens.
    Also this morning we discussed the continuing tragedy in what once 
was Yugoslavia. We reaffirmed our commitment to the unhampered flow of 
humanitarian aid and to ending the violence there through a sound 
political solution.
    We also reiterated our continued support for the Russian people's 
brave efforts to create a market economy there. And we believe that 
reforms must be implemented quickly if external aid is to be effective. 
Used wisely, western aid can be a catalyst to democratic reform, reforms 
that are in the interest of all the world. And we agreed to work closely 
with President Yeltsin to achieve these goals.
    Then I took the opportunity to share with the Prime Minister and the 
President our views of the Middle East peace process. I welcome the 
continued active role of the EC, particularly in the multilateral side 
of the talks.

[[Page 2204]]

    After Prime Minister Major and President Delors briefed me on the 
results of the EC summit in Edinburgh this week, I reaffirmed our 
longstanding support for European integration.
    So I want to thank the Prime Minister, Prime Minister John Major, 
and President Delors for their support and friendship, friendship 
they've shown me personally and most of all shown to the people of the 
United States. Talks such as these serve as a reminder of their 
friendship and of our common interests in creating a world of peace and 
prosperity for all our peoples.
    So once again, to both of you my sincere thanks. And Mr. Prime 
Minister would you take the floor, sir.

                    Note: The President spoke at 1:35 p.m. on the South 
                        Lawn at the White House, following a meeting 
                        with European Community Commission President 
                        Jacques Delors and Prime Minister John Major of 
                        the United Kingdom, President of the European 
                        Council.