[Weekly Compilation of Presidential Documents Volume 31, Number 41 (Monday, October 16, 1995)]
[Pages 1796-1797]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks Welcoming President Ernesto Zedillo of Mexico

October 10, 1995

    President and Mrs. Zedillo, members of the Mexican delegation, 
distinguished guests. On behalf of the American people, it is my honor 
to welcome you to the United States as our neighbors, our partners, and 
our friends.
    I know I speak for all Americans when I send my condolences to the 
victims of yesterday's terrible earthquake in western Mexico and to 
their families. Our thoughts and prayers are with all the people of your 
nation as the relief effort gets underway.
    Mr. President, the bonds between our nations have never been 
stronger or more important. Over the last decade and with renewed 
vitality since you took office, Mexico has embarked upon a course of 
political and economic transformation. Openness and participation are 
the watchwords of the future as the people of your great nation take 
control of shaping their destiny.
    Mexico's triumph in this epic endeavor will be America's triumph as 
well. A prosperous Mexico will be an even greater partner in trade, and 
this means more high-paying jobs for citizens in both our nations. A 
strong, democratic Mexico will be an even more effective partner in the 
struggle against drugs and crime and pollution.
    President Zedillo, the American people are proud to support your 
efforts. We know we share a stake in your success. That is why, when 
Mexico fell into financial crisis, the United States answered with 
action, not only for the sake of the Mexican people but also for the 
sake of thousands of Americans whose jobs depend upon Mexico's well-
being.
    We saw the threat of economic dislocation all along our 2,000-mile 
border, and we recognized that trouble next door would spread to other 
markets all around the world. The United States, with bipartisan 
backing, assembled a package of international support to help lift the 
Mexican economy back on track. And you, President Zedillo, rose to your 
daunting challenge with courage and determination. You implemented hard 
measures to stabilize the economy, while holding to the road of reform. 
You knew that the costs of your action were high but the costs of 
inaction were far greater. You recognized your truly historic 
responsibilities, and you met them.
    We overcame tough challenges by making tough decisions and by 
standing together and standing firm for the long-term best interests of 
both our nations. Mexico's early repayment of $700 million serves proof 
that our actions were proper and that they will be rewarded. The Mexican 
economy has turned the corner, and the markets have taken notice.
    The North American Free Trade Agreement helped to speed the recovery 
of international confidence. Even during the financial crisis, Mexico 
kept its NAFTA commitments, lowering its tariffs on American products. 
Today, despite the economic downturn,

[[Page 1797]]

our exports to Mexico exceed their pre-NAFTA levels. And as Mexico's 
economy regains its strength, not only will your people benefit but so, 
too, will tens of thousands of Americans whose well-being also advances 
when Mexico prospers.
    Mr. President, the United States applauds your grace under pressure, 
your vision for your people, and your unflinching resolve. You have 
coupled far-reaching economic reform with unprecedented progress for 
democracy, throwing open the doors of political participation and 
welcoming every Mexican inside.
    We salute the Mexican people for their extraordinary perseverance. 
They have borne tremendous hardship to build a stronger, more prosperous 
nation. We support your goal of an open, dynamic, and democratic Mexico, 
an inspiration for the region and the entire world.
    President and Mrs. Zedillo, we're glad to have you with us again. 
Welcome to the White House. Welcome back to the United States.

Note: The President spoke at 10:19 a.m. on the South Lawn at the White 
House. In his remarks, he referred to Anilda Patricia Zedillo, wife of 
President Zedillo.