It is important to note that the final Declaration of Santiago focused, in particular, on the need to implement the Kyoto Protocol on Climate Change. Let me talk a bit about that unprecedented agreement. The international community accepted that challenge by agreeing on the historic Kyoto Protocol to the Climate Change Convention. For the first time, markets may be put to work to help international efforts to address the problem of global warming. As both President Clinton and the United States Senate have clearly indicated, the success of the ratification process depends on meaningful participation in the Kyoto Protocol by key developing countries.
Chile can be a leader in that process.
Chile has already begun to analyze how its participation in the Kyoto mechanisms could benefit its own economy. Our two governments have been working together to see where, jointly, we can move that agenda forward. The US Initiative on Joint Implementation is part of the Clinton Administration's Climate Change Action Plan. This is the first Chilean project accepted under the Initiative-we hope to see many more. In support of the Clean Cities agreement, we have brought together at my residence in Santiago, and at other gatherings in Chile, scores of business, environmental, educational and governmental leaders from Chile and the US to compare notes and to build networks to address one of Chile's most urgent environmental challenges-cleaning the air of Santiago.