[Weekly Compilation of Presidential Documents Volume 29, Number 38 (Monday, September 27, 1993)]
[Page 1879]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on Lifting Economic Sanctions Against South Africa

 September 24, 1993

    I welcome the call today by ANC President Nelson Mandela for the 
lifting of economic sanctions against South Africa. This call from this 
courageous man who has been one of the principal victims of apartheid 
means that the leading groups in South Africa now oppose the maintenance 
of economic sanctions on their country.
    Yesterday's action by the South African Parliament to create a 
Transitional Executive Council (TEC) and today's announcement by the ANC 
are watershed events in the history of South Africa and its movement 
toward a nonracial democracy. South Africans of all races can be proud 
of these momentous achievements. Americans can also take pride in the 
role they have played through government, churches, unions, 
universities, activist groups, and businesses throughout America to 
protest the apartheid system.
    We must now respect the judgment of the leaders of South Africa and 
move to lift our remaining economic sanctions. We will be taking steps 
necessary to permit lending to South Africa from the International 
Monetary Fund. I welcome the introduction and passage of legislation in 
the Senate to lift the other remaining sanctions at the Federal level 
and hope the House can move rapidly on the legislation as well. I also 
urge States, counties, and cities to move quickly to lift their 
sanctions.
    But removing sanctions will not be enough. Americans who have been 
so active in breaking down the pillars of apartheid must remain 
committed to helping build the nonracial market democracy that comes in 
its wake. For this reason, I have asked that Commerce Secretary Ron 
Brown lead a trade and investment mission to South Africa to explore 
business opportunities, particularly with South Africa's black private 
sector. We will offer an OPIC investment encouragement agreement and 
propose negotiations for a bilateral tax treaty. We will consider the 
possibility of initiating a Peace Corps program in South Africa.
    I urge private companies, investment fund managers, universities, 
labor unions, and other Americans to take advantage of opportunities for 
trade and investment in South Africa and to use their fullest talents to 
assist South Africa's historic transition to democracy.