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U.S. Code as of:
01/19/04
Section 1942. Development assistance in Latin America; Congressional declaration of policy
(a) It is the sense of the Congress that -
(1) the historic, economic, political, and geographic
relationships among the American Republics are unique and of
special significance and, as appropriate, should be so recognized
in future legislation;
(2) although governmental forms differ among the American
Republics, the peoples of all the Americas are dedicated to the
creation and maintenance of governments which will promote
individual freedom;
(3) the interests of the American Republics are so interrelated
that sound social and economic progress in each is of importance
to all and that lack of it in any American Republic may have
serious repercussions in others;
(4) for the peoples of Latin America to continue to progress
within the framework of our common heritage of democratic ideals,
there is a compelling need for the achievement of social and
economic advance adequate to meet the legitimate aspirations of
the individual citizens of the countries of Latin America for a
better way of life;
(5) there is a need for a plan of hemispheric development, open
to all American Republics which cooperate in such plan, based
upon a strong production effort, the expansion of foreign trade,
the creation and maintenance of internal financial stability, the
growth of free economic and social institutions, and the
development of economic cooperation, including all possible steps
to establish and maintain equitable rates of exchange and to
bring about the progressive elimination of trade barriers;
(6) mindful of the advantages which the United States has
enjoyed through the existence of a large domestic market with no
internal trade barriers, and believing that similar advantages
can accrue to all countries, it is the hope of the people of the
United States that all American Republics will jointly exert
sustained common efforts which will speedily achieve that
economic cooperation in the Western Hemisphere which is essential
for lasting peace and prosperity; and
(7) accordingly, it is declared to be the policy of the people
of the United States to sustain and strengthen principles of
individual liberty, free institutions, private enterprise, and
genuine independence in the Western Hemisphere through
cooperation with all American Republics which participate in a
joint development program based upon self-help and mutual
efforts.
(b) In order to carry forward the above policy, the Congress
hereby -
(1) urges the President through our constitutional processes to
develop cooperative programs on a bilateral or multilateral basis
which will set forth specific plans of action designed to foster
economic progress and improvements in the welfare and level of
living of all the peoples of the American Republics on the basis
of joint aid, mutual effort, and common sacrifice;
(2) proposes the development of workable procedures to expand
hemispheric trade and to moderate extreme price fluctuations in
commodities which are of exceptional importance in the economies
of the American Republics, and encourages the development of
regional economic cooperation among the American Republics;
(3) supports the development of a more accurate and sympathetic
understanding among the peoples of the American Republics through
a greater interchange of persons, ideas, techniques, and
educational, scientific, and cultural achievements;
(4) supports the strengthening of free democratic trade unions
to raise standards of living through improved management-labor
relations;
(5) favors the progressive development of common standards with
respect to the rights and the responsibilities of private
investment which flows across national boundaries within the
Western Hemisphere;
(6) supports the consolidation of the public institutions and
agencies of inter-American cooperation, insofar as feasible,
within the structure of the Organization of American States and
the strengthening of the personnel resources and authority of the
Organization in order that it may play a role of increasing
importance in all aspects of hemispheric cooperation; and
(7) declares that it is prepared to give careful and
sympathetic consideration to programs which the President may
develop for the purpose of promoting these policies.
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