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Public Papers - 1992 - December

Remarks Following Discussions With European Community Leaders

1992-12-18

Today's discussions with Prime Minister Major and President Delors mark our fifth meeting since we agreed to these semiannual consultations with the European Community. And the frequency of these meetings is a sign of their vital importance for the world trading system, for our own economic well-being, and for meeting the challenges of the new world. And this morning we covered a broad agenda reflecting the many interests that we share in global partnership.

On trade, we are of one mind. We agreed that a sound Uruguay round agreement is essential to boost worldwide economic growth. And we all agreed to conclude the GATT agreement in Geneva by mid-January. We've instructed our negotiators to work together to this end. And we're committed not only to resolving the differences remaining among ourselves but also to encouraging Japan and other countries to join us in an energetic effort to bring the negotiations to a successful conclusion.

I continue to believe that for the people of Europe as well as of the United States, free and open trade is the key to expanding prosperity. And a successful Uruguay round could result in over trillion in increased world output over the next 10 years. Our estimate suggests that the European Community's gains would amount to about .4 trillion, and the United States would benefit from a boost of .1 trillion in that period. Clearly these tremendous gains would promote the well-being of all of our citizens.

Also this morning we discussed the continuing tragedy in what once was Yugoslavia. We reaffirmed our commitment to the unhampered flow of humanitarian aid and to ending the violence there through a sound political solution.

We also reiterated our continued support for the Russian people's brave efforts to create a market economy there. And we believe that reforms must be implemented quickly if external aid is to be effective. Used wisely, western aid can be a catalyst to democratic reform, reforms that are in the interest of all the world. And we agreed to work closely with President Yeltsin to achieve these goals.

Then I took the opportunity to share with the Prime Minister and the President our views of the Middle East peace process. I welcome the continued active role of the EC, particularly in the multilateral side of the talks.

After Prime Minister Major and President Delors briefed me on the results of the EC summit in Edinburgh this week, I reaffirmed our longstanding support for European integration.

So I want to thank the Prime Minister, Prime Minister John Major, and President Delors for their support and friendship, friendship they've shown me personally and most of all shown to the people of the United States. Talks such as these serve as a reminder of their friendship and of our common interests in creating a world of peace and prosperity for all our peoples.

So once again, to both of you my sincere thanks. And Mr. Prime Minister would you take the floor, sir.

Note: The President spoke at 1:35 p.m. on the South Lawn at the White House, following a meeting with European Community Commission President Jacques Delors and Prime Minister John Major of the United Kingdom, President of the European Council.

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