CITES OBLIGATION OF THREE NATIONS TO REDUCE TRADE BARRIERS AND PREDICTS MEXICAN EXAMPLE WILL BE "CONTAGIOUS"
CITES OBLIGATION OF THREE NATIONS TO REDUCE TRADE BARRIERS
AND PREDICTS MEXICAN EXAMPLE WILL BE "CONTAGIOUS"
NEW YORK, Nov. 19 /PRNewswire/ -- American Stock Exchange Chairman James R. Jones today called for a free-trade agreement among the United States, Canada and Mexico, and stated that the current economic vitality in Mexico was unlimited. The Amex chairman made his comments at an investment conference sponsored by the Exchange held at the Bolsa Mexicana de Valores (Mexican Stock Exchange).
Jones advocated the lowering of trade barriers on a global basis, but expressed fear that the current Uruguay round of talks could fall short of approving such a measure. "If that's the case, then we have an important obligation in North America to reduce trade barriers among our three countries. If we do that successfully -- especially because of Mexico -- the fever should spread throughout the rest of Latin America," he stated.
"A dramatic resurgence is taking place in this country," Jones added. "Not only is a sense of economic vitality sweeping through Mexico, but we're witnessing the emergence of Mexico as a formidable presence in the global economy."
The Amex's conference was held to provide Bolsa-listed companies and Mexico's financial community with an in-depth understanding of how Mexican companies can raise capital in the United States and the requirements needed for these companies to access U.S. markets.
Keynote speakers at the day-long event included Dr. Martin S. Feldstein, the noted economist and former chairman of the President's Council of Economic Advisers, who discussed the U.S. and Mexico in the 1990s, and Securities and Exchange Commissioner Mary L. Schapiro, who discussed the SEC's outlook on regulatory issues facing Mexican companies.
Jones, a former chief of staff under President Lyndon Johnson, represented his native Oklahoma in Congress for 14 years, serving as chairman of the House Budget Committee and as a member of the House Ways & Means Committee, prior to embarking on a private law practice. Jones was also recognized as a leader in areas including international trade matters. In 1989, he was named the 15th chairman of the American Stock Exchange.
In addition to the Amex, the conference was also presented by Bank of New York, Dewe Rogerson and J.P. Morgan.
/CONTACT: Shelly Wolfe, 212-306-1641, or Sarah Luke, 212-306-1650, both of American Stock Exchange/ CO: American Stock Exchange ST: New York IN: FIN SU: SM -- NY040 -- 4930 11/19/91 11:54 EST