Distinguished Friends, Ladies and Gentlemen:  Thank you for joining us tonight! It is an honor and a privilege to be here with you!

I am indeed happy to be in Washington, especially during the first autumn of the Millenium, and only a few days before the U.S. presidential election, with its energy and high expectancy.

I must admit that Washington is one of my favorite cities. It is also nice to see so many familiar faces and greet friends of many years. As a West Point Cadet, I remember with vivid nostalgia that cold, cloudy winter morning in January when we paraded for the inaugural ceremony of the late President John F. Kennedy. But despite the freezing weather, our spirits as young cadets were buoyed at being participants in the ushering of The Era of Camelot. That moment and others that followed across the years, make me feel very much at home in Washington.

Today we are celebrating another "Panama Week." Due in great measure to the foresight and dedication of J.J. Vallarino, Jr., a man for all seasons. I had the privilege to be part of the founding team in what is today’s successful adventure, the U.S. Panama Business Council (USPA). I commend the organizers of the event; despite a hard act to follow last year’s impressive program, USPA has done it again this year! Congratulations to my friend Juancho Sosa, his wife Margaret, Felix Carles and Ricardo González de Mena.

Michael Barnes, who joined J. J. in the formation of USPA, has served as the Council’s Chairman for six years. Mike, your leadership and devotion to this enterprise has been exemplary. I congratulate you and wish you every success in your new responsibilities as President of Handgun Control.

This brings us to a very important part of the event. It fills us with great pleasure to have Governor Buddy Mackay join us today. Panama has had a very close relationship with the Office of the Envoy for the Americas since its inception. As a matter of fact, Governor Mackay’s predecessor, Mack McLarty, was recognized last year by USPA with the "Friendship Award." Since Governor MacKay took over his present responsibilities, I believe he has been more times to Panama than any other country in the hemisphere. The frequency of his visits does seem to qualify him for a Panamanian "cédula", of course from my hometown Colon. We appreciate the close friendship, which he and his staff enjoy with my country.

I would like to take a few moments to recognize the presence of several colleagues from the Administration of President Moscoso who have traveled to Washington to be part of Panama Week. Foreign Minister José Miguel Alemán, Vice Minister of Commerce and Industries Temístocles Rosas, Vice Minister of Finance Domingo Latorraca, Administrator of the Panama Canal Alberto Alemán Zubieta, General Manager of the Panamanian Institute of Tourism Liriola de Córdova, Panama’s Ambassador to the OAS Juan Manual Castulovich.

I also want to acknowledge the Ambassador of Panama to Panama to the United States Guillermo Ford. Unfortunately, Ambassador Ford had to undergo an emergency operation and could not be with us tonight. But his Embassy is well represented.

Over the past several months USPA’s dynamic program has brought the Private Sector of Panama as well as Government Officials to several cities of the U.S. which so far have included Miami, Atlanta, Houston, Chicago, New York, Washington D.C. I have been fortunate to travel to five of the six cities and I am looking forward to Boston, New Orleans, and Los Angeles next year.

These forums have served to solidify the friendship which our two countries have enjoyed for almost a century. A friendship so intertwined that it takes on new meaning in this New Millenium, as Panama moves to come to grips with the changes in today’s globalized world. This friendship was further evidenced by the flawless turnover of the Panama Canal to Panamanian hands on December 31^st, 1999, which the United States did with excellent foresight and courage. The transition was so transparent, almost invisible, proving that Panama is more than able to effectively manage this key and strategic resource.

The importance of the Panama Canal to the future of Panama and the commitment of Panama to keep it safe and efficient, cannot be over emphasized. We are now taking a serious look at expanding the Canal and adapting it to the requirements of mega-sized ships.

The U.S. is our # 1 commercial partner, and is also the # 1 investor, which makes for a very special relationship. This relationship should continue to grow and be strengthened based on mutual understanding, friendship and cooperation as we move into the future.

It is a special moment to applaud the Council’s initiative to recognize those leaders that as a result of their vision and hard work, have contributed effectively to closer relations between our two countries. At yesterday’s luncheon we recognized U.S. Secretary of Transportation, the Honorable Rodney Slater, and tonight we recognize two corporations that have been closely linked to Panama’s history: Chiquita Brands International and Bank Boston. I congratulate these two giants who have proven to be good friends of Panama. My congratulations also to Jon Hemingway of Manzanillo International Terminal and Michael Barnes, until today’s USPA’s Chairman of the Board, who also received awards.

A week ago Colon 2000 and Panama Ports, "The New Face of Tourism on the Atlantic Side," were inaugurated by President Moscoso, within the framework of The Sevent Annual Florida Caribbean Cruise Association Conference & Trade Show hosted at the Atlapa Convention Center in Panama. This marks the beginning of a new and exciting era for Panama’s tourism. As quoted by Mickey Arison of Carnival Corporation, Colon should become home port for the Caribbean Cruise Ships.

In the next few days the cruise industry will launch its cruise season in the city of Colón, as the first ship, loaded with passengers and crew will disembark, dramatizing the exciting times we are living!

Time is of the essence as Panama moves forward to meet the demands of the globalized world with a series of very vital and important projects.

These projects clearly define President Mireya Moscoso’s vision for a New Panama, with the public and private sector working together to achieve this vision. The lands reverted to Panama by virtue of the Canal treaties are unleashing major new investment opportunities such as:

• Development of logistics centers for transport and cargo storage, currently being implemented in the City of Colon on the Atlantic side, and at the former Howard U.S. Air Force Base, at the pacific side.
• Initiation of a Frank Gehry Aquarium to be built in Fort Amador on the pacific side. This project should undoubtedly attract thousands of visitors from the U.S., Caribbean, Mexico, Central and South America and establish Panama as an important marine center.
• Fort Sherman in the Atlantic side, with high potential for Eco and conservation tourism.
• The authorization by the Government of a private sector initiative to promote and build a Government Center in the Clayton reverted area at a cost of $240 millions.
• The City of knowledge and Tecno Park in the former U.S. Army South Headquarters at Fort Clayton (Xerox & McGill University).
• Panama Canal Railway (Kansas City) should begin operations from Colon to Panama on April 2001 on a daily basis – double deck containers.
• The new bridge over the Canal will be bid on the first half of 2001, linking the two sides of the Canal around the town of Paraiso.

These new investments will be made easier by the recent agreement signed between the two countries, which allows the Overseas Private Investment Corporation to provide financing and risk insurance to American companies investing in Panama. In the short time since the agreement was signed, there has been a considerable interest in new investments in Panama, on the part of American companies.

Panama is called to play an important role in the implementation of the Free Trade of the America Area (FTAA). As we prepare to host negotiations next year through 2003, we feel that Panama’s selection as host country is a recognition of our proven commitment to free trade and hemispheric unity. In addition, in another important recognition as a country with good quality of life and security, UNICEF and FAO of the United Nations will establish their Regional Headquarters in Panama City.

Panama has also taken seriously its commitment to fight crime and cooperate in international efforts against drug trafficking and money laundering. A week ago Panama’s congress passed two laws approved by the Cabinet of President Moscoso, and the President issued two Executive Decrees to make our fight against crime more effective.

I would be remiss not to acknowledge publicly the important collaboration given to Panama by the recent Black Caucus held here in Washington and Congressman’s Major Owens’ masterful handling of a unanimously approved Resolution in support of Panama; also my friend Congressman Charles Rangel, who assured me of their support. Maribel and I were also glad to be part of the Congressional Black Caucus Gala Dinner, attended by President Bill Clinton, Vice President Al Gore and Senator and Vice Presidential Candidate Joe Leiberman.

Finally my dear friends, this is a magnificent moment in the history of the world and the time is right to move forward on this journey of hope, faith, and confidence, by contributing to create a new tomorrow in the vision of a more meaningful and just society. Panama and the United States have been in this journey for many years and Panama shall continue to contribute, within our limitations and resources, to make Panama and the region, a better place to live.

THANK YOU AND GOD BLESS YOU!