    [Public Papers of the Presidents of the United States: William J. Clinton (1997, Book II)]
    [December 12, 1997]
    [Page 1759]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on the International Financial Services Agreement
    December 12, 1997

        Since I took office, I have been committed to tearing down barriers
    to American goods and services exports. Today's agreement by over 70
    countries to liberalize trade in financial services will ensure market
    access in sectors where we lead the world: banking, securities, and
    insurance. In the wake of recent financial instability, it is
    particularly encouraging that so many countries have chosen to move
    forward rather than backwards. I want to congratulate Secretary Rubin,
    Ambassador Barshefsky, Deputy Secretary Summers, Deputy U.S. Trade
    Representative Lang, and Assistant Secretary Geithner for their hard
    work in bringing these negotiations to a successful conclusion.