Welcome to Houston. And we think this city is a very appropriate place to host this economic summit not of the postwar era but of the post-postwar era.
Over the past decade and a half, the leaders of the largest industrialized democracies have held these summits to address common problems and challenges. These economic summits have become framework for frank and constructive dialog, a dialog for progress that I believe will be advanced greatly in these next 3 days. And together, we're called upon as allies and as friends to work toward decisions here in Houston that will bring a new stability and prosperity to the world by tapping the power and energy of free wills and free markets.
A new world of freedom lays before us, hopeful, confident -- a world where peace endures, where commerce has conscience, and where all that seems possible is possible. So, let us begin in good faith to set the stage for the new millennium. Thank you for coming to Houston, and thank all who have made us feel so at home here. Thank you very much.
Note: The President spoke at 2:13 p.m. in the Academic Quadrangle at Rice University in Houston, TX. The 1990 economic summit of industrialized nations was hosted by the United States. The following foreign leaders, accompanied by their foreign and finance ministers, attended the summit: Prime Minister Brian Mulroney of Canada, President Jacques Delors of the European Community, Chancellor Helmut Kohl of the Federal Republic of Germany, President Francois Mitterrand of France, Prime Minister Giulio Andreotti of Italy, Prime Minister Toshiki Kaifu of Japan, and Prime Minister Margaret Thatcher of the United Kingdom. A tape was not available for verification of the content of these remarks.