    [Public Papers of the Presidents of the United States: WILLIAM J. CLINTON (1999, Book II)]
    [November 16, 1999]
    [Pages 2101-2103]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks to American and Turkish Business Leaders in Istanbul, Turkey
    November 16, 1999

        The President. Thank you very much. First, to my good friend
    President Demirel, thank you for your
    remarks and for the wonderful visit that you have hosted for Hillary and
    Chelsea and me and our entire American party, culminating in the
    magnificent dinner last night and the presentation of the award, which I
    will treasure always. Thank you, Mr. Koc, for
    gathering this distinguished group of Turkish business leaders. To the
    American delegation here, Secretary Albright and others, thank you very much for being here.
        And I want to say a special word of appreciation to Senator Nancy
    Kassebaum Baker for her willingness to
    lead this group. The presence of Nancy and her husband, Senator Howard
    Baker, here--literally, two of the most
    outstanding Members of the United States Senate since the Second World
    War--is a great tribute to the importance of the relationships between
    the United States and Turkey. I am grateful for their service to our
    country and grateful for their leadership. And Nancy, thank you very
    much for your giving your time to this important endeavor. I thank you
    very much.
        I am honored to be in this historic city of two continents and three
    empires, now the modern hub of Turkey's free market democracy. I am
    thrilled to be in this magnificent building, in this beautiful room.
    It's almost enough to make you miss the empire. [Laughter]
    Unfortunately, at least if we still had the empire, I'm sure I wouldn't
    be invited to lunch here today, so--[laughter]--I think we're getting
    the best of both worlds.
        I'm honored to be with all of you who have contributed so much to
    the growth and strength of this country. I thank the Turkish-U.S.
    Business Council and the American-Turkish Council for all they have done
    to promote ties between our two nations and to improve the welfare of
    our peoples.
        President Demirel has said that Turkey is situated at the center of
    the world. That was true in ancient times; it was true in the 20th
    century, even after the end of the Ottoman Empire. It will be even more
    true in the 21st century. What Turkey does, and what we do together in
    the coming years, will help to determine whether stability takes roots
    in the Balkans and the Aegean; whether true and lasting peace comes to
    the people of the Middle East; whether democratic transformations in the
    States of the former Soviet empire, from the Caucasus to central Asia,
    actually succeeds.
        Clearly, economic developments will have a lot to do with our
    success in all these endeavors. The steps we take together today to
    improve the climate for trade, investment, and jobs will help to bring
    this region together, to reduce tensions, to strengthen democratic
    governments. In turn, the strengthening of freedom and stability will do
    even more to spur prosperity.
        There is hardly a place in the world where the intersection of
    politics and economics is more clearly complete. Therefore, I would like

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    to take just a couple of moments to make a few points about what we have
    been doing and where we are headed together. First, let me applaud the
    bold economic reforms taken by Turkey under Prime Minister
    Ecevit, including landmark legislation on
    Social Security, international arbitration, banking regulation, and the
    budget. These are part of a global trend of opening markets,
    strengthening financial stability, and imposing fiscal discipline, while
    working to ensure that society's most vulnerable are not left behind.
    These measures will improve the climate for trade and investment and
    will lead to more jobs and higher incomes for the people of Turkey.
        Second, I am very pleased, to echo President Demirel, that trade between our two countries has reached new
    heights, rising 50 percent in the last 5 years alone, now surpassing $6
    billion. We are the fourth largest supplier of exports to Turkey and the
    second largest market for exports from Turkey.
        Following the August earthquake and the pressures it put on the
    economy here, we have gone the extra mile to be flexible to Turkish
    textile exports, and recently taken important steps to further expand
    trade and investment between our two countries. In September, during
    Prime Minister Ecevit's visit, we signed a
    trade and investment framework agreement to cut through redtape and work
    through disagreements in our trading relationship. Our Overseas Private
    Investment Corporation will soon double its activity in Turkey to more
    than $1 billion. Our Export-Import Bank will delegate $1 billion in
    lending authority to 12 Turkish banks--powerful evidence of our
    confidence in Turkey's economy and our commitment to strengthen it. In
    turn, Turkey's decision to open its market to cattle imports will
    benefit United States ranchers and Turkish consumers. We're also on the
    verge of completing some major agreements: a $30 million contract for a
    vessel-tracking system to help keep the crowded Bosphorus safe and
    protect the environment; a framework agreement for joint irrigation
    projects in southeastern Turkey; and a half-dozen power plants worth
    some $5 billion. These projects will be good for both countries, and I
    hope we can conclude all of them soon.
        Third, we are moving ahead, as the President said, to build energy
    security in the new century. We've made great strides toward the
    proposed Baku-Ceyhan oil pipeline and the trans-Caspian gas pipeline.
    These will help to diversify our sources of energy and help the newly
    independent countries of the Caucasus and central Asia stand on their
    own feet. They will put Turkey, our trusted ally, front and center in
    the effort to create a secure energy future.
        I'll bet if you polled the citizens of the United States and Turkey,
    over 90 percent of them would never have heard of the Baku-Ceyhan oil
    pipeline or the trans-Caspian gas pipeline. But if we do this right, 20
    years from now, 90 percent of them will look back and say thank you for
    making a good decision at a critical time.
        Fourth, greater economic cooperation and integration is vital to the
    future of Turkey and its southeastern European neighbors. A central
    challenge, of course, is building stronger economic ties between Turkey
    and Greece as a part of a larger effort for reconciliation and
    cooperation between your two countries. I am very pleased the private
    sector is leading the way. But the Turkish-Greek Business Council is
    back in business, and both nations are talking about increasing
    bilateral trade and tourism.
        Political and economic forces here, again, reinforce each other. In
    order for our two NATO Allies, Greece and Turkey, to be full partners in
    the European Union, bilateral relationships must improve. In order for
    southeastern Europe to overcome the Balkan wars in Bosnia and Kosovo and
    the legacy of communism in the other states of the southeast, the
    nations of the region must draw closer to each other, and then together
    draw closer to the new Europe.
        Again, I say these efforts can only succeed if Greece and Turkey are
    leading the effort. Because of the earthquakes and the human response to
    them by both Turks and Greeks; because of the leadership, outstanding
    leadership in the Turkish and Greek Governments; because of the Cyprus
    talks just announced, we now have a genuine opportunity for fundamental
    and enduring reconciliations between your two lands. I will do
    everything I can to help you seize this chance. I believe seizing this
    chance will have enormous economic, as well as political, benefit to the
    ordinary citizens of Turkey well into the next century.
        The last point I want to make is this: If we want strong economic
    growth and lasting prosperity, it is essential that we work everywhere
    to deepen freedom and democracy in our own countries and around the
    world. I applaud the

    [[Page 2103]]

    strides Turkey is making in this regard, not because the Americans or
    the Europeans want it, but because it's the right thing for the Turkish
    people. And I encourage further progress in these areas, such as freedom
    of expression, because it is right, and because we in America have a
    great stake in your stability, in Turkey's ability to reap the full
    benefits of the information age and the global economy, in Turkey's full
    integration in Europe, in Turkey's full success as a modern, prosperous,
    secular society bridging East and West.
        I am proud that we are working as partners with you to build better
    lives for our citizens, and I am proud to have had the opportunity to
    represent the people of the United States on this historic trip.
        I would like to close by asking my fellow Americans to join me in a
    toast to President Demirel, the leaders of
    this organization, and the people of our host nation, Turkey.

    [At this point, the participants drank a toast.]

        The President. This is a beautiful painting. Wait, I want to say
    this. You know, I just bought a new home. [Laughter] In my attempt to
    fulfill the last ambition of my life, I am trying to follow in the steps
    of Senator Howard Baker and become the
    husband of a United States Senator. And this will look very good in that
    home. Thank you very much.
        Thank you.

    Note: The President spoke at approximately 3:25 p.m. in the Palace
    Dining Hall at the Imperial Chalet. In his remarks, he referred to
    President Suleyman Demirel of Turkey; Mustafa V. Koc, chairman, Turkish-
    U.S. Business Council of the Foreign Economic Relations Board of Turkey
    (DEIK); former Senator Nancy Kassebaum Baker, chairman, American-Turkish
    Council, and her husband, former Senator Howard H. Baker, Jr.; and Prime
    Minister Bulent Ecevit of Turkey. The transcript released by the Office
    of the Press Secretary also included the remarks of President Demirel.