    [Public Papers of the Presidents of the United States: WILLIAM J. CLINTON (1999, Book II)]
    [December 14, 1999]
    [Pages 2299-2300]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on the Transfer of the Panama Canal to the Republic of Panama
    December 14, 1999

        Today we commemorate the transfer of the Panama Canal from the
    United States to the Republic of Panama. The official transfer will take
    place on December 31 in fulfillment of the Panama Canal Treaties of
    1978. I am delighted that President Carter,
    under whose leadership the canal treaties were concluded and ratified,
    is heading a distinguished delegation of Americans to today's historic
    event.
        To this day, the Panama Canal remains one of the great engineering
    marvels of the world. The canal played a critical role in the
    development of global commerce and contributed to the rise of the United
    States as a great power. As we look back on this century, we should pay
    tribute to the skill, vision, and tenacity of those who conceived and
    built this magnificent waterway.
        The decision made in the 1970's to transfer the canal to Panama,
    ratified by treaty and supported by a broad bipartisan consensus,
    demonstrated the good will of the American people.

    [[Page 2300]]

    It reflected the wisdom and foresight of American leaders who saw that
    our national interests at the end of the 20th century were best served
    by transferring the canal to Panama, that this act could help improve
    relations between the United States and its neighbors. Since that time,
    the United States has worked to strengthen democracy, prosperity, and
    cooperation in our hemisphere, and thereby, benefit our citizens at
    home. At the age of a new century, the canal, long a symbol of American
    power and prestige, now also symbolizes the unity and common purpose of
    the democratic nations of the Americas.
        Today's ceremony underscores our confidence in the Government of
    Panama and the Panamanian people's ability to manage this vital artery
    of commerce. It also signals our continuing commitment to the security
    of the canal, as enshrined in our treaty obligations, and our
    determination to work with Panama and the many other countries that use
    the canal to ensure that it remains open to the world's shipping and
    commerce.
        I commend the government of President Moscoso for its leadership and spirit of cooperation. The
    United States will continue to work closely with Panama to safeguard the
    canal and promote the well-being of our citizens and people around the
    world.