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STATEMENT BY COOPERS & LYBRAND CHAIRMAN & CEO EUGENE M. FREEDMAN ON HOUSE OF REPRESENTATIVES VOTE APPROVING NAFTA

 NEW YORK, Nov. 17 /PRNewswire/ -- The following statement was released today by Chairman & CEO Eugene M. Freedman of Coopers & Lybrand regarding the passage of NAFTA by House of Representatives:
 "The passage of NAFTA marks an important forward step for the U.S. economy. America's greatest growth has always occurred when trade with other nations is actively encouraged. The House, by its actions tonight, has reaffirmed with our trading partners around the globe that isolationism and protectionism cannot stand in a global economy. We salute Congress and the Administration for its courage and foresight in supporting the continuing expansion of global trade."
 "By eliminating virtually all Mexican tariffs on incoming U.S. products, NAFTA creates opportunities for expansion and job growth for American companies selling products in Mexico. NAFTA actually removes incentives to move American jobs south of the border, because U.S. companies often did so only to avoid the tariffs that NAFTA removes. Other benefits from NAFTA include giving the U.S. more leverage to influence Mexican enforcement of its own environmental laws, and strengthening the Mexican economy, thereby reducing the flow of illegal immigration from Mexico to here."
 -0- 11/17/93
 /CONTACT: David L. Nestor of Coopers & Lybrand, 212-536-2965/


CO: Coopers & Lybrand ST: New York IN: FIN SU:

TM-WB -- NY115 -- 5802 11/17/93 22:42 EST
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Publication:PR Newswire
Date:Nov 17, 1993
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