US Presidency
1977

In the spirit of reciprocity suggested by the leaders at the Bogota. summit, the United States and Panama have agreed that any future sea level canal will be built in Panama and with the cooperation of the United States. In this manner, the best interests of both our nations are linked and preserved into the future. Many of you seated at this table have made known for years through the Organization of American States and through your own personal expressions of concern to my predecessors in the White House, your own strong feelings about the Panama Canal Treaty of 1903. That treaty, drafted in a world so different from ours today, has become an obstacle to better relations with Latin America. I thank each of you for the support and help that you and your countries have given during the long process of negotiation, which is now drawing to a close. This agreement has been negotiated over a period of 14 years under four Presidents of the United States. I am proud to see President Ford here with us tonight.