[Weekly Compilation of Presidential Documents Volume 32, Number 25 (Monday, June 24, 1996)]
[Page 1076]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Message to the Senate Transmitting the International Natural Rubber 
Agreement

June 19, 1996

To the Senate of the United States:

    I transmit herewith, for the advice and consent of the Senate to 
ratification, the International Natural Rubber Agreement, 1995, done at 
Geneva on February 17, 1995. The Agreement was signed on behalf of the 
United States on April 23, 1996. The report of the Department of State 
setting forth more fully the Administration's position is also 
transmitted, for the information of the Senate.
    As did its predecessors, the International Natural Rubber Agreement, 
1995 (INRA), seeks to stabilize natural rubber prices without distorting 
long-term market trends and to assure adequate natural rubber supplies 
at reasonable prices. The U.S. participation in INRA, 1995, will also 
respond to concerns expressed by U.S. rubber companies that a transition 
period is needed to allow industry time to prepare for a free market in 
natural rubber and to allow for the further development of alternative 
institutions to manage market risk. The new Agreement incorporates 
improvements sought by the United States to help ensure that it fully 
reflects market trends and is operated in an effective and financially 
sound manner.
    The Agreement is consistent with our broad foreign policy 
objectives. It demonstrates our willingness to engage in a continuing 
dialogue with developing countries on issues of mutual concern and 
embodies our belief that long-run market forces are the appropriate 
determinants of prices and resource allocations. It will also strengthen 
our relations with the ASEAN countries, since three of them--Malaysia, 
Indonesia, and Thailand--account collectively for approximately 80 
percent of world production of natural rubber.
    Therefore, I urge the Senate to give this Agreement prompt 
consideration and its advice and consent to ratification to enable the 
United States to deposit its instrument of ratification as soon as 
possible.
                                            William J. Clinton
The White House,
June 19, 1996.