    [Public Papers of the Presidents of the United States: William J. Clinton (1996, Book II)]
    [November 26, 1996]
    [Pages 2150-2151]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks on the Thailand-United States Tax Treaty in Bangkok, Thailand
    November 26, 1996

        Mr. Prime Minister, Mr. Deputy Prime Minister, Ambassador Itoh, the
    members of the Thai and the American business communities, ladies and
    gentlemen, the tax treaty we are about to sign brings to a close 15
    years of negotiations and opens a new era of trade and investment
    between Thailand and the United States.
        Mr. Prime Minister, let me personally thank you for pressing for the
    conclusion of this treaty. I know how hard you worked and I know how
    much it meant to you. Thank you very much.
        Our countries already enjoy a thriving and growing economic
    partnership. The United States is Thailand's largest export market, its
    second largest trading partner, with two-way trade in excess of $18
    billion a year. But until today our companies were at a competitive
    disadvantage since many other countries already have treaties with
    Thailand that prevent double taxation in the home country and in
    Thailand. Now a more level playing field will encourage our businesses
    to play an even larger role in Thailand's economic success story: to
    sell their products, to make investments, to share technology, to help
    to develop Thailand's remarkable human resources through training.
        The success story of Thailand has been called a miracle. A more
    down-to-earth and realistic explanation lies in the hard work and fierce
    determination of the Thai people and the enlightened leadership of their
    government. You have proved that human resources matter the most if
    people are free to invent, to trade, and to dream. Today's signing
    reminds us that governments do not create wealth but governments can
    create the climate in which our workers, our entrepreneurs, our
    investors and business people can have a free and unfettered opportunity
    to thrive. That is our goal with this treaty, our goal with the civil
    aviation agreement recently signed, with the Thai Parliament's decision
    to set up an intellectual property rights court, with the ongoing
    consideration of a strong patent protection law.
        Let me say to the members of the American business community who are
    here today and here in Thailand every day, the growth of our economy and
    the quality of our jobs is strengthened by your leadership. By trading
    and doing business beyond our borders, you keep our Nation engaged in
    the frontlines of the global economy and global opportunity. To you, to
    our Thai partners, to the members of both governments whose hard work
    has brought us to this day, I thank you for your dedication and for your
    vision. The 21st century can be a time of remarkable possibility if we
    give people an opportunity to make the most of their potential. Today
    the doors of opportunity have been opened a little wider, and all of you
    who played a part in that effort can justly be proud.
        Thank you very much.

    Note: The President spoke at 11:26 a.m. in the garden at the Grand
    Palace. In his remarks, he referred to Prime Minister Banhan Sinlapa-
    acha

    [[Page 2151]]

    and Deputy Prime Minister Amnuai Wirawan of Thailand and U.S. Ambassador
    William H. Itoh. Following the President's remarks, Ambassador Itoh and
    Deputy Prime Minister Amnuai signed the treaty.