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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release November 29, 2000

STATEMENT BY THE PRESIDENT

The United States of America (USA) and Chile have agreed to start negotiations on a comprehensive bilateral Free Trade Agreement (FTA). The FTA will build on the progress that has been made by the U.S.-Chile Joint Commission on Trade and Investment that was established during President Clinton's state visit to Chile in April 1998.

This endeavor reflects our mutual commitment to advancing free and open trade and investment in the Americas and around the world.

The USA and Chile are both strong supporters of the Free Trade Area of the Americas (FTAA) negotiations. The negotiation of a bilateral free trade agreement between us will provide further impetus for the FTAA negotiations.

The United States and Chile reaffirm their strong commitment to the multilateral trading system and the launch of a New Round in 2001.

The FTA will include labor and environmental provisions along the lines of the U.S.-Jordan FTA.

I have directed Ambassador Charlene Barshefsky to assign a high priority to advancing negotiations for an FTA.

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