    [Public Papers of the Presidents of the United States: William J. Clinton (1997, Book I)]
    [March 18, 1997]
    [Pages 322-323]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Legislation To Reauthorize the Export-Import Bank and the
    Overseas Private Investment Corporation
    March 18, 1997

        Today my administration is transmitting to Congress legislation to
    reauthorize both the Export-Import Bank of the United States and the
    Overseas Private Investment Corporation (OPIC). I am also asking that my
    requests for these agencies and for the U.S. Trade and Development
    Agency (TDA) be fully funded.
        These three specialized agencies play important complementary roles
    in helping U.S. firms compete for valued export markets. Never in our
    recent history have exports been more critical to American economic
    growth and to the creation of high-paying U.S. jobs. Other major trading
    countries rely heavily on government trade and finance agencies to help
    their companies compete in the world's fastest growing economies.
    Because of our efforts over the past 4 years, the United States has
    signed more than 200 new trade agreements and is once again the world's
    leading exporter. We need Ex-Im Bank, OPIC, and TDA to help maintain
    that position and continue to create good jobs for our people.
        The appropriations for these agencies are relatively modest,
    particularly compared to the benefits of increased export growth that
    ripple throughout the entire U.S. economy. Each of these programs
    delivers public benefits by expanding U.S. commercial opportunities
    abroad, helping meet competition from other countries, and broadening
    the base of U.S. export-oriented businesses. Each has taken steps to
    streamline its own operations and improve its coordination with other
    agencies. My administration stands ready to work with Congress on ideas
    for further improvements that will yield even greater benefits for the
    American economy.

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