[Weekly Compilation of Presidential Documents Volume 30, Number 50 (Monday, December 19, 1994)]
[Page 2497]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Joint Statement by the Leaders of Canada, Chile, Mexico, and the United 
States

December 11, 1994

    The Americas have been a flourishing of trade, investment and growth 
built on the strength of our economies. All of our countries have 
contributed to this success and are determined to ensure that it 
continues and is expanded through concrete action. The Summit of the 
Americas is, in fact, indicative of the hemisphere's commitment to take 
concrete action to achieve higher standards of living. We seek in this 
hemisphere to expand market opportunities through equitable rules and to 
eliminate barriers to trade and investment through agreed disciplines at 
high levels. This approach coupled with policies that address the 
conditions of labor and protection of the environment will be pillars of 
a new partnership in the Americas.
    Today we are announcing our decision to begin the process by which 
Chile will accede to the North American Free Trade Agreement (NAFTA). To 
this end, trade officials from the NAFTA partners have been directed to 
undertake the preparations necessary to begin formal negotiations, 
including focusing on relevant technical procedures and institutional 
issues. In light of the high priority that we place on this intensive 
preparatory phase, we have agreed that the first preparatory meeting 
shall occur before the end of December 1994, and that meetings with 
Chile will follow early next year. We have also instructed our Ministers 
responsible for trade to meet and review the work of the officials by no 
later than May 31, 1995 and to commence full accession negotiations 
expeditiously thereafter.
    In launching this effort, we reaffirm that increased trade, 
integration and investment on the basis of agreed rules are vital to 
achieving sustainable growth and the creation of high paying employment 
opportunities in each country. We believe this action, combined with the 
other actions relevant to this Summit, is a clear indication of the 
determination we have to achieve a prosperous Americas.