TABLE OF CONTENTS: Title I: Educational Exchange Programs Title II: Other Training and Exchange Programs Freedom Exchange and Training Act - Title I: Educational Exchange Programs - Requires the Director of the U.S. Information Agency to establish an exchange program with the independent states of the former Soviet Union and the Baltic states, under which the Director shall award competitive grants to eligible organizations to finance exchanges of: (1) secondary school students; (2) secondary school teachers and administrators; (3) postsecondary students (both college and graduate); and (4) college and university educators (the "sister" university program). Authorizes appropriations. Title II: Other Training and Exchange Programs - Directs the President to establish technical assistance and exchange programs with the independent states of the former Soviet Union and the Baltic States, which may be implemented by grants to eligible organizations or otherwise. Funds the following types of exchange, training, and technical assistance programs under this title: (1) public administration and governance; (2) modification or restructuring of laws and legal systems; (3) agriculture and agribusiness; (4) energy and environment; (5) health and medicine; (6) trade and investment; and (7) leaders training. Requires foreign participants to be sufficiently proficient in English to fulfill program purposes. Requires the Agency for International Development or another Government agency with appropriate experience and expertise to administer training and other exchange programs under this title. Authorizes appropriations.