USA CHILE TO JOIN NAFTA

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(11 Dec 1994) Eng/Span/Nat • Chile is likely to become the next member nation of the North American Free Trade Agreement (NAFTA). • The announcement was made at the Summit of the Americas in Miami. • Today U-S President Clinton announced an initiative to make Chile the first South American nation to join the North American Free Trade Agreement. • The Pact currently covers the U-S, Canada and Mexico. • Flanked by the leaders of the three countries, Chilean President Eduardo Frei welcomed the proposal. • SOUNDBITE: • This will make it possible in the next few years to have more exchange of goods and services... to have more investments in our people. Which in the end implies an increase in our productivity an increase in the opportunities we have. Better jobs and better wages for our people. • SUPER CAPTION: Eduardo Frei, President of Chile. • President Frei spoke of the hopes of many other Latin American nations. • SOUNDBITE: • I also believe that this demonstrates that it is possible to flow into a broad agreement for an entire free trade agreement for the Americas. We have been working on multilateral and bilateral agreements. Today, no doubt, we are advancing toward a major agreement for the entire Americas. • SUPER CAPTION: Eduardo Frei, President of Chile. • Chile's inclusion in the agreement is contingent on approval by the U-S Congress. • U-S President Clinton spelled out why Chile was selected to join the trade bloc. • SOUNDBITE: • That has benefited from disciplined and responsible economic leadership. Chile has high economic growth, low inflation, has virtually extinguished its foreign debt. And has done so while manifesting a commitment to the labor and environmental standards and to the welfare of the people of Chile that are embedded in our commitments to NAFTA. • SUPER CAPTION: Bill Clinton, U-S President. • The announcement followed the signing of a 34 nation agreement to eliminate trade barriers throughout the Americas. • It is hoped that the hemispheric agreement will take effect by the year 2005. • Talks will begin in May to bring Chile into NAFTA. • And if Chile's membership is approved in the coming year, the country could benefit from the ten year headstart before the agreement takes place for greatly increased trade with North America. • • Find out more about AP Archive: http://www.aparchive.com/HowWeWork • Twitter: / ap_archive • Facebook: / aparchives • Instagram: / apnews • • • You can license this story through AP Archive: http://www.aparchive.com/metadata/you...

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