Treasury Deputy Secretary Lawrence H. Summers and Chilean Finance Minister Eduardo Aninat met during the Inter-American Development Bank annual meetings in Paris on March 14th to discuss the prospects for an income tax treaty between Chile and the United States.

The two affirmed their mutual commitment to initiate formal negotiation of such a treaty in late May 1999. They remarked on the need to create and maintain favorable conditions for trade and investment between Chile and the United States and agreed that the envisioned tax treaty would help foster increased economic ties by reducing double taxation and preventing fiscal evasion. Minister Aninat and Deputy Secretary Summers affirmed their intention to work toward a successful result of these negotiations.