Western Hemisphere Environmental, Labor, and Agricultural Standards Act of 1992

Western Hemisphere Environmental, Labor, and Agricultural Standards Act of 1992 - Declares that any free-trade area agreement negotiated under the Omnibus Trade and Competitiveness Act of 1988 (OTCA) in furtherance of the Enterprise for the Americas Initiative with any country in the Western Hemisphere outside North America must include the achievement of certain environmental, labor, and agricultural standards as principal negotiating objectives in addition to any other OTCA mandates.

Sets forth worker rights and standards, including among others: (1) freedom of association and the right to organize free and independent unions, bargain collectively, and strike; (2) certain minimum ages for the employment of children in specified circumstances; (3) the right to a healthy working environment; (4) equal protection; and (5) humane standards of wages and hours of work.

Sets forth principal negotiating objectives for environmental quality and protection, including among others: (1) protection of the integrity of ecosystems; (2) a process for full public disclosures of kinds, quantities, and risks of toxic chemical and hazardous substance discharges; and (3) prevention of the export of toxic and hazardous substances and products, and of products manufactured, extracted, or grown under environmental or workplace safety and health conditions that undermine comparable standards in the importing country.

Requires adoption, in any such agreement, of the principle that systematic denial or practical negation of such labor and environmental standards constitutes an actionable unfair trade practice.

Requires any such agreement to establish a comprehensive dispute resolution process with specified provisions, including one for a multilateral commission with authority to investigate, adjudicate, and issue timely binding judgments.

Requires the Director of the Office of Science and Technology to establish, through the Federal Coordinating Council on Science, Engineering, and Technology, an interagency committee to provide technical assistance to U.S. experts on the multilateral dispute resolution commission.