President Bush, while
representing the United States at the Summit of the Americas
in Argentina November 4-5, accomplished several key tasks
aimed at "addressing common 21st-century challenges,"
according to a fact sheet released by the White House at
the summit's conclusion.
Those tasks include the funding of an "Infrastructure
Facility of the Americas," which would assess infrastructure
project proposals; the establishment of a Central America
and Caribbean Fund, which would be organized and overseen
by the U.S. Overseas Private Investment Corporation (OPIC);
and the signing of a bilateral investment treaty with Uruguay
(see related article.)
Bush called for his regional counterparts
to join him in developing opportunity zones for fostering
new private business ownership, and in reforming the Inter-American
Development Bank in ways that would "encourage accountability
and performance," according to the fact sheet.
The president also announced new initiatives
to fund disaster relief and to combat the exploitation of
children.
Following is the text of the White House
fact sheet:
(begin fact sheet)
THE WHITE HOUSE
Office of the Press Secretary
November 5, 2005
Accomplishments At The Fourth Summit
Of The Americas
"I've always felt that good foreign
policy starts in your neighborhood. So this trip is a continuation
of the United States working with different countries, and
me working with leaders to have a good relationship in the
neighborhood. I remember the first Summit of the Americas
I went to, which was in Canada. And in the opening comments,
it struck me that it's an amazing neighborhood when ...
every country is a democracy except for one."
President George W. Bush
November 1, 2005, Press Roundtable, Washington, D.C.
At the Fourth Summit of the Americas, President
Bush joined the other 33 democratically elected leaders
of the Western Hemisphere in addressing common 21st-century
challenges. In particular, the leaders focused on:
-- Creating decent job opportunities, especially
for the region’s poor;
-- Creating conditions to achieve sustained
economic growth through greater trade and development;
-- Fighting poverty; and
-- Strengthening democratic governance and
institutions.
The President encouraged his fellow leaders
to make the strategic leap from commitment to achievement,
and emphasized that words must lead to tangible results.
President Bush and the United States will
continue to lead and work for greater prosperity, security,
and opportunity for the people of this hemisphere. At the
Summit the President specifically raised the following programs
for the hemisphere:
Infrastructure Facility Of The Americas:
President Bush made available funds to launch a new institution
to assess infrastructure project proposals from private
and public sponsors. The Facility will promote high-return,
job-creating projects by providing assessments and advice
on: (1) engineering feasibility; (2) economic feasibility;
(3) financial structure; and (4) public concession tendering,
legal matters, and implementation.
United States and Uruguay Sign Bilateral
Investment Treaty: The agreement demonstrates U.S. commitment
to create new economic opportunities together with those
countries in the hemisphere that are willing to help themselves
by implementing sound economic policies. The United States
is Uruguay’s largest trading partner, and the stock
of U.S. foreign direct investment in Uruguay was $533 million
in 2004.
Central American and Caribbean Fund: The
U.S. Overseas Private Investment Corporation (OPIC) will
invite proposals from qualified private-sector fund managers
to organize a Central America and Caribbean Fund that could
reach $135 million. The Fund will invest predominately in
companies operating in the following countries: Barbados,
Belize, Costa Rica, Dominica, Dominican Republic, El Salvador,
Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua,
Panama, St. Lucia, and St. Vincent & the Grenadines.
Opportunity Zones: President Bush urged
Heads of State to join him in developing Opportunity Zones
in five to-be-identified countries. These programs, through
public and private cooperatives, encourage new business
ownership opportunities, particularly for disadvantaged
citizens.
Inter-American Development Bank (IDB) Reform:
The President called for the shareholders of the IDB to
implement measures that will better employ the bank's assets,
encourage accountability and performance, and address the
debt sustainability of the poorest countries in the region,
including through grants and debt relief.
Private-Sector Disaster Relief: The President
announced that three distinguished private-sector leaders
-- Steven S. Reinemund, Robert W. Lane and Maria Elena Lagomasino
-- have agreed to launch a nationwide effort to encourage
private donations for relief and reconstruction in response
to the three recent hurricanes that struck Central America.
Protecting Children: President Bush announced
strong American support for a significantly expanded effort
over the next four years in Latin America and the Caribbean
to remove children from exploitative work and provide them
with educational opportunities. In support of the above
goals, the United States Department of Labor has committed
$16 million to continue and expand our fight against the
worst forms of child labor in the Americas.
Commerce, Industry And Economy Ministerial
On Competitiveness: President Bush recommended that the
OAS convene the first-ever joint Commerce, Industry and
Economy Ministerial to bring high-level officials together
to focus on competitiveness. This unprecedented meeting
will identify concrete actions that governments may take
alone, or in concert, to enhance the region’s ability
to compete more successfully in the global marketplace.
(end fact sheet)
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