[Congressional Record Volume 144, Number 26 (Thursday, March 12, 1998)]
[Senate]
[Pages S1882-S1883]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         SENATE RESOLUTION 174

  The text of the resolution (S. Res. 174) as agreed to by the Senate 
on March 11, 1998, is as follows:

                              S. Res. 174

       Whereas the United States maintains a close bilateral 
     partnership with Thailand and has a profound interest in 
     furthering that relationship;
       Whereas the friendship between our two countries goes back 
     farther than that with any other Asian nation dating back to 
     the Treaty of Amity and Commerce and Navigation of 1833;
       Whereas the bilateral trade relationship is robust and 
     promises to grow even more so in time;
       Whereas the United States security relationship with 
     Thailand is one of our most critical, and it is in both 
     countries' interest to maintain and strengthen that 
     relationship;
       Whereas the new Government in Thailand has committed itself 
     to making significant structural reforms to its economy in 
     line with the conditions placed upon it by the International 
     Monetary Fund, including improving financial and economic 
     transparency and cutting its budget;
       Whereas the conditions imposed on Thailand by the 
     International Monetary Fund were developed in August of 1997, 
     when the economic environment in Asia was vastly different 
     from that existing today;
       Whereas an example of those changed circumstances is the 
     fact that both Korea and Indonesia provided second line of 
     defense contingency loans to Thailand in August 1997, 
     amounting to US$500 million each; and
       Whereas Thailand's democratic reforms have advanced with 
     that country's economic growth and development: Now, 
     therefore, be it
       Resolved, That it is the sense of the Senate that--
       (1) the United States should enhance the close political 
     and security relationship between Thailand and the United 
     States and strengthen economic ties and cooperation

[[Page S1883]]

     with Thailand to ensure that Thailand's economic recovery 
     continues uninterrupted; and
       (2) Thailand deserves praise and commendation from the 
     United States for the measures it has implemented to resolve 
     its financial problems.

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