[Weekly Compilation of Presidential Documents Volume 29, Number 27 (Monday, July 12, 1993)]
[Pages 1244-1245]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on Signing Legislation Extending Fast Track Procedures for the 
Uruguay Round

 July 2, 1993

    Today I am pleased to sign into law H.R. 1876, extending legislative 
``fast track'' procedures to conclude the Uruguay Round of multilateral 
trade negotiations. I want to extend my thanks to the Congress for its 
broad bipartisan support for this legislation and the Administration's 
trade policies.
    Fast track authority is critical to our effort to complete these 
important negotiations by December 15, 1993. Fast track procedures give 
our negotiators the bargaining power they need in Geneva, while at the 
same time ensuring the Congress' role during the negotiation and 
approval of a Uruguay Round agreement.
    The Uruguay Round is an ambitious effort, involving more than 100 
nations, to lower tariff and non-tariff barriers around the world and to 
strengthen and update a set of rules for international trade that have 
become increasingly ineffective and obsolete.
    Completion of the Uruguay Round would provide a major boost to the 
world economy at a time when it is crucially needed. As the world's 
leading exporter--and the world's most open economy--the United States 
stands to benefit significantly by reducing trade barriers and opening 
markets around the world for manufactured goods, agricultural products, 
and services.
    We remain committed to completing these important negotiations this 
year, and we will encourage our trading partners to make their 
contribution to bringing the negotiations to a successful conclusion.
                                            William J. Clinton
The White House,
July 2, 1993.

Note: H.R. 1876, approved July 2, was assigned Public Law No. 103-49. 
This statement was re- 

[[Page 1245]]

leased by the Office of the Press Secretary on July 3.