FROM THE OFFICE OF PUBLIC AFFAIRS

I will be leaving on Sunday to travel to Brazil, Uruguay and Argentina. Each of these nations is a close friend and ally of the United States. I look forward to talking with government officials in Brazil, Uruguay and Argentina about their economic direction and prospects.

The United States has a long history of cooperation with the nations of Latin America. President Bush is eager to build on that history, and with the passage of Trade Promotion Authority we will forge ahead with a free trade agreement that would span the entire hemisphere. Free trade binds us together and creates opportunity and prosperity. Together, we will use the power of the market to improve standards of living for people throughout the hemisphere.

The future of our nation is closely tied to the success and the security of our closest neighbors. Prosperity throughout the hemisphere benefits all the peoples of the Americas. As President Bush has said, our Administration's central goal for the Americas is to continue the momentum of progress, building a hemisphere that lives in liberty, trades in freedom and grows in prosperity. No one wants to see successful, growing economies in this region more than President Bush and this Administration. And these economies – these people – will succeed. Having traveled often to Latin America in my 23 years in the private sector I witnessed first hand the talented people and excellent resources there. With the right policies, they will succeed.

In Brazil, I look forward to meeting with President Cardoso, Minister Malan and Governor Fraga. The economic team in Brazil has done a remarkable job of maintaining sound fiscal and monetary policies. I continue to favor support for Brazil and other nations that take appropriate policy steps to build sound, sustainable and growing economies. I will take the opportunity in Brazil to visit with entrepreneurs to see first hand how the sound and forward-looking policies adopted by the Brazilian Government have formed a strong foundation upon which real economic activity has developed and will continue to flourish.

In Uruguay, the government is taking strong and difficult steps to rebuild the banking sector in the wake of major external shocks.

I will meet with President Batlle and his economic team and reiterate my support for additional assistance for Uruguay from the IMF and other international financial institutions as part of a comprehensive solution to the recent economic difficulties there. Uruguay deserves the ongoing support of the international financial community for its commitment to sound economic policy.

In Argentina, I will visit with President Duhalde and Minister Lavagna to review the government’s progress in implementing a sustainable economic program. I will also visit businesses and health facilities and talk with local entrepreneurs and employers to develop a better understanding of the real economy, social issues and civil society. The people of Argentina have suffered from the economic turmoil there, and we are eager to see that nation return to a position of strength and stability.