[Weekly Compilation of Presidential Documents Volume 33, Number 12 (Monday, March 24, 1997)]
[Pages 380-381]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on Reauthorization of 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. Be

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cause 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.