Latin American and Caribbean Foreign Policy Principles Resolution

Latin American and Caribbean Foreign Policy Principles Resolution - Expresses the sense of the Congress that the policy of the United States toward Latin American, the Caribbean, and the developing world in general should be guided by principles of self-determination for all nations, the primacy of the right of all people to the basic human rights of life, liberty and personal security, and that the United States and other hemispheric nations have parellel interests in developing and maintaining nonexclusionary, nondiscriminatory foreign economic policies.

States that it is the sense of the Congress that the United States should unequivocally maintain its adherence to the American Declaration of the Rights and Duties of Man and to the Universal Declaration of Human Rights. Supports the Inter-American Commission on Human Rights of the Organization of American States.

Reaffirms the United States' commitment to seek structural changes in the institutions and rules guiding would trade practices which will be conducive to increasing world trade potential of the hemisphere.

States that recent history has shown that punitive United States policies are not effective in contributing to the resolution of economic disputes. Expresses the sense of the Congress that the United States policy responses to foreign government actions should be limited to the policy area of the dispute in question. Calls for the repeal of legislation that requires the United States to suspend bilateral assistance or vote against multilateral economic aid to countries expropriating without compensation property owned by a United States company. Calls for efforts to be made to resolve trade disputes through negotations. Criticizes the practice of denying or reducing economic assistance in cases of violations of human rights since such policies would deny aid to people whose needs are greater in conditions adverse to basic human rights.

Calls for a repeal of legislative restrictions on the kinds of military equipment sold to Latin America. Encourages the United States to make efforts to develop subregional, regional, and global arms limitations agreements.

Provides that arms transfers by the United States to developing countries should be to the greatest extent possible on a nonconcessional basis.

Expresses the sense of the Congress that the United States should continue its commitment to aid for development. Calls for the development of loan guarantee mechanisms which would permit access for those countries at the intermediate level of development to the captial markets of the developed countries.

Calls for a universal effort to resolve the outstanding differences between the positions of the United States and the Latin American governments.

Establishes policies for cooperation in the development of scientific and technological innovations and in a cultural and intellectual exchange between North and Latin America.