Statement by Press Secretary Fitzwater on the President's Meeting With President Patricio Aylwin of Chile

In their discussions today, President Bush and President Aylwin stressed their joint commitment to free trade throughout the hemisphere as envisioned in the President's Enterprise for the Americas Initiative. President Aylwin told the President that the long-term vision of the EAI is very important to Latin America and described it as the first chance for a genuine partnership between Latin America and the United States based on free trade.

As a result of these discussions and in recognition of Chile's economic achievements, the President decided today that the United States intends to negotiate a comprehensive free trade agreement with Chile upon completion of the North American free trade agreement, and he intends to send notification to the Congress, pursuant to fast track procedures, at that time.

United States exports to Chile increased to $1.582 billion in 1991, including products such as mining machinery, computers, and telecommunications equipment.

Chile was the first in Latin America to receive bilateral debt reduction and an investment sector loan under the Enterprise for the Americas Initiative. By moving forward on free trade, Chile will be the first nation in South America to participate in the trade benefits of EAI.

The two Presidents also took note of the challenges to democratic processes in Haiti, Peru, and Venezuela and reaffirmed their strong commitment to support and defend democracy in the hemisphere through the OAS.