FROM THE OFFICE OF PUBLIC AFFAIRS

Today Treasury Secretary Paul O'Neill signed a new agreement with Antigua and Barbuda that will provide for the exchange of information on tax matters between the United States and Antigua and Barbuda. The agreement was signed by Treasury Secretary Paul O'Neill and Antiguan Prime Minister and Minister of Finance Lester Bird.

At the signing ceremony, Treasury Secretary Paul O'Neill delivered the following remarks:

"I would like to thank you all for being here today and I want to welcome especially the Prime Minister of Antigua and Barbuda, Lester Bird, and the other members of the Antiguan delegation who have traveled here today to witness the signing of this important agreement."

"The agreement we are signing today provides continuing evidence of our commitment to establishing and maintaining effective information exchange relationships with countries across the Caribbean and throughout the world. I want to extend my sincere appreciation to the government of Antigua and Barbuda for demonstrating its desire to cooperate with the United States in our efforts to ensure adequate enforcement of our tax laws."

"As I have said many times, we have an obligation to enforce our tax laws because failing to do so undermines the confidence of honest taxpayers in the fairness of our tax system. Today's signing marks another important step forward in our efforts. I look forward to future cooperation with the government of Antigua and Barbuda in this critically important area."