[Weekly Compilation of Presidential Documents Volume 35, Number 50 (Monday, December 20, 1999)]
[Pages 2619-2620]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
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

[[Page 2620]]

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. 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 it 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.