    [Public Papers of the Presidents of the United States: William J. Clinton (1995, Book II)]
    [October 11, 1995]
    [Pages 1571-1572]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks at a Luncheon Honoring President Ernesto Zedillo of Mexico
    October 11, 1995

        Thank you. Thank you so much, Mr. Vice President, for the
    introduction and for your leadership in these important endeavors.
    President Zedillo, Secretary General Gaviria, World Bank President
    Wolfensohn, the IMF's Managing Director Camdessus, President Iglesias,
    members of the United States and American Cabinets, Ambassador Babbitt,
    and the other OAS Ambassadors; to the very important members of our
    business communities in the United States and throughout Latin America;
    to all of our distinguished guests:
        Just 9 months ago, I had the honor of hosting all the democratically
    elected leaders in our hemisphere at the Summit of the Americas in
    Miami. Together we laid out a bold and broad vision for the future of
    the region we all share. We imagined a community of nations committed to
    freedom and prosperity. And we set out a plan of action to realize that
    vision, to create a free trade area throughout our hemisphere, to
    strengthen the remarkable trend toward democracy, to improve the quality
    of life for all our people.
        What all of us in Miami recognized is that increasingly our values
    and our interests coincide. Our futures are joined. As each of us
    prospers, all of us benefit.
        For 45 years, the Organization for American States has worked
    tirelessly to strengthen the ties that bind us together. Now, its
    members have challenged us to implement many of the summit's
    initiatives, especially in the area of democracy and human rights. And
    in turn, we have asked the OAS to help turn our goal of a free trade
    area of the Americas into a concrete reality.
        Under Secretary General Gaviria's dynamic guidance, I am confident
    the OAS will meet the responsibilities of its mandate and help to build
    a new era of democratic progress throughout the Americas.
        Nowhere is the potential for progress clearer than in our
    relationship with Mexico. The stronger our trade, the greater the well-
    being of all of our people. The deeper our cooperation, the better we
    will be able to fight together our common problems like drugs and crime
    and pollution. The more effective our partnership, the stronger an
    example we will be able to set for all the nations of our hemisphere.
        That's why when the peso collapsed, the United States stepped
    forward. The international support package we assembled, with the IMF,
    the World Bank, the Inter-American Development Bank, helped Mexico to
    get back on the path of stability and growth. It also protected hundreds
    of thousands of American jobs, and it prevented the crisis from
    spreading throughout our region and, indeed, to other emerging markets
    throughout the world. To put it mildly, the action the United States
    took was not popular here at home at the time it was taken. But it was
    the right thing to do.

    [[Page 1572]]

        In the months since the crisis, Mexico has demonstrated more
    strongly than ever that it is not only our neighbor, it is a very good
    neighbor. The Mexican people, led by President Zedillo, have
    courageously stayed on the road to reform.
        Mr. President, the tough steps you took required courage and the
    ability to convince the Mexican people of the need for short-term pain
    in return for long-term gain. But now your resolve is paying off. Mexico
    has turned the corner toward recovery. And all of your partners in our
    region applaud your leadership and your success and the basic character
    and vision of the people of Mexico who have supported your direction.
        During his visit to Washington, President Zedillo and I discussed
    how we can move our partnership forward, not only to benefit our two
    nations but the entire hemisphere. By spreading the success of NAFTA,
    leading the fight against crime and corruption and drugs, clearing our
    air and cleaning our water, modernizing our educational systems for the
    21st century, we hope to inspire the efforts of our neighbors throughout
    the Americas.
        All of us in the Americas have an extraordinary opportunity, if we
    work together. We can build a future where our borders serve as bridges;
    where open societies and open markets flourish; where ordinary citizens,
    their families, and their communities see the benefits of a free-market
    economy without being swept away by its excesses; where our horizons
    know no limits and we prove the promise of our common commitment to
    democracy and human dignity.
        If we achieve that vision, it will be thanks in no small measure to
    the steady hand and the clear-sightedness of my friend and partner who
    is here, the distinguished President of Mexico, President Zedillo.
        Thank you, Mr. President. Thank you, ladies and gentlemen.

    Note: The President spoke at 12:13 p.m. in the Hall of the Americas at
    the Organization of American States. In his remarks, he referred to
    Cesar Gaviria, Secretary General, Organization of American States, and
    Enrique V. Iglesias, President, Inter-American Development Bank.