    [Public Papers of the Presidents of the United States: William J. Clinton (1995, Book I)]
    [June 15, 1995]
    [Pages 888-889]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks on Departure for the Group of Seven Summit
    June 15, 1995

        Good morning. As you know, I am leaving this morning for my third
    annual meeting with the leaders of the G-7 industrialized nations. This
    summit marks another concrete step in our efforts to advance the
    security and prosperity of the American people by seizing the
    opportunities of the global economy.
        At home, we are working hard to put our economic house in order. We
    are creating millions of jobs, working for economic growth, and cutting
    the deficit, which is already the lowest of all the advanced countries
    in the world. With our new budget proposal we will wipe out the deficit
    in 10 years, while still making room for critical investments in
    education and training, which our future demands. Going into this
    meeting the United States is in a strong position to continue leading
    our allies in the fight for long term global prosperity.
        From the beginning of our administration, we have led the
    international effort to expand trade on a free and fair basis. We helped
    to expand world markets with NAFTA and GATT and trade agreements with
    the Asian-Pacific countries and here with the nations of the Americas.
    We are helping the former Communist countries to convert to free market
    economies. In all these areas we have turned back the forces of
    isolation which tempt us to turn away from the challenges and
    opportunities of the world.
        In Halifax, together with our partners, we will focus on continuing
    to reform the institutions of the international economy so that we can
    have more stable, reliable growth--the World Bank, the International
    Monetary Fund, and others. For a half century, they have been a sound
    investment, and we are committed to maintaining our support for them.
    But now we have to give them new guidance in this new economy so that
    they can continue to serve our national interests in a changing global
    economy.
        One of the key issues we'll be addressing is creating ways to
    identify and prevent financial problems from exploding into crises, as
    they did in Mexico. We will embrace joint initiatives to contain and
    defuse any crisis that does develop, so that the United States is not
    the world's lender of last resort. And we'll continue to explore how
    international organizations, which have helped so many countries to
    improve the lives of their people, can better aid developing nations and
    expand the world's market economies.
        Finally, together with Russia, we will examine the challenges to our
    safety and well-being that no country can resolve alone. We'll look at
    new ways we can work together to combat the scourges of terrorism,
    nuclear smuggling, drug trafficking, and organized crime. And of course,
    we will discuss a lot of the security issues that concern us all,
    including Bosnia and Iran's nuclear ambitions.
        When I arrive in Halifax today, I'll be meeting with Prime Minister
    Murayama of Japan. Our relationship is strong, and we are cooperating on
    a broad variety of issues, including North Korea, which is terribly
    important to both of us, the environment, and the problems of terrorism
    which have visited both our nations recently. But I will also make it
    clear to the Prime Minister that I am determined to carry through on my
    effort to open Japan's auto markets. Millions of American exports and
    thousands of American jobs depend upon our success. And I will say again
    it is in the long term interest of both the Japanese people and the
    people of the United States that this trade effort succeed.
        All around the world free markets, open trade, new technologies are
    bringing countries closer together. Every day they are producing untold
    new opportunities for our people; they also lead us into uncharted
    territory with new problems. I believe on balance the future is

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    very bright if we have the discipline to face these issues as they
    arise.
        As the world's leading industrialized democracies, those of us in
    the G-7 have a very special responsibility to address these forces of
    change. That's what we'll be doing at Halifax.
        Thank you very much.

    Note: The President spoke at 8:40 a.m. at Andrews Air Force Base in Camp
    Springs, MD. In his remarks, he referred to Prime Minister Tomiichi
    Murayama of Japan.