[Weekly Compilation of Presidential Documents Volume 33, Number 25 (Monday, June 23, 1997)]
[Pages 898-900]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks Announcing the Africa Trade Initiative

June 17, 1997

    Thank you very much, Mr. Micek, for your testimony and your work. 
Congressman Crane, Congressman Rangel, Congressman McDermott, thank you 
all for what you have said today, and even more important, for what you 
have done.
    Mr. Ambassador, to you thank you for your words. And to all of your 
colleagues, welcome and thank you for coming and for being a part of 
this important initiative, for testifying before the Congress and giving 
your ideas to help us put this together.
    Thank you, Senator Lugar, for your leadership in the Senate on this 
issue. I thank all the Members of Congress who are here. There are so 
many, I think just to show you the depth of the interest, I would like 
to ask the Members of the House who are here to stand and be recognized 
so you can see them all. Thank you.
    I thank Secretaries Glickman, Daley, Slater, and Herman for being 
here; Ambassador Richardson, Ambassador Barshefsky, our AID 
Administrator Brian Atwood; the Director of the USIA, Joe Duffy; the new 
leader of the ExIm Bank, Jim Harmon, thank you for being here.
    There are so many people from the business community here and 
distinguished American citizens--I do think I would be remiss if I did 
not especially thank Jack Kemp. Thank you for coming. And thank you, Jim 
Wolfensohn, for coming. And now he will go back to the World Bank and 
write the appropriate checks, I know. [Laughter]
    Thank you, Mayor Dinkins, for being here. Thank you, Reverend 
Sullivan. I thank Maxine Waters, who is chair of the Congressional Black 
Caucus, for the emphasis she has put on Africa. And many of the members 
here, most recently Congresswoman McKinney, have talked to me about 
Africa on a regular basis.
    But I would be remiss if I did not thank four people especially who 
are personally responsible for making sure that I know about Africa. 
First, Congressman Donald Payne, thank you, sir, for all the times you 
have talked to me about it. Thank you, Congressman Bill Jefferson. Thank 
you Andy Young, Reverend Andrew Young, thank you. Andy Young was talking 
to me about Africa before he ever thought I would be in a position to do 
anything about it. [Laughter] And I would like to say a special word of 
thanks to C. Payne Lucas and the Corporate Council on Africa for the 
wonderful work they have done. Thank you, sir.
    This is a moment of tremendous promise for the people of Africa. For 
the last 4 years we have tried to put our country in a position to be 
more active on Africa than we have been in the past. We had the first 
White House Conference on Africa. We have done a number of things. I 
think it's fair to say that the trip that Hillary and our daughter took 
to Africa was one of the most meaningful experiences they have ever had. 
I think it changed Hillary forever. I know it changed what I now believe 
I know and feel about what we should be doing forever. And so, I'd like 
to thank her for that because I think she's done a fine job on that.
    We look at Africa today as a continent full of bright hopes and 
persistent problems. Everyone knows about the conflicts; they make a lot 
of news, from Sudan to Sierra Leone. We know that we have a 
responsibility to continue to work for peace in Africa's troubled areas. 
But somehow, we have to find a way to highlight and celebrate Africa's 
successes, and yes, even to participate in them in ways that work to the 
advantage of the American people. We have to dedicate ourselves to 
seeing that these gains will not only be maintained but will be 
enhanced.
    These stories don't make the headlines, but there really is a 
dynamic new Africa out there and the far greater number of nations there 
are now making dramatic strides toward democracy and prosperity. Since 
1990, the number of democracies in Sub-Saharan Africa has more than 
quadrupled. Now more than half the region's 48 states have freely chosen 
their leaders. Many are embracing economic reform, opening markets, 
privatizing, stabilizing their currencies. Growth has more than tripled 
since 1990. The economies in such countries as Senegal, Ghana, 
Mozambique, Cote d'Ivoire are expanding at rates up to 7 percent a year. 
Ethiopia was not long ago gripped by famine; it

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grew 12 percent last year. Uganda, once a byword for tragedy, has become 
a magnet for investment; it grew almost 10 percent last year.
    As Africa's nations join the global march toward freedom and open 
markets, our Nation has a deep interest in helping to ensure that these 
efforts pay off. An Africa that is gaining vitality while technology, 
trade, communications, and travel are bringing millions into the global 
economy is a continent of greater stability, growing markets, stronger 
partners. A nation that can help us work for peace, to preserve the 
environment, to fight disease, to grow our own economy, that's a nation, 
wherever it is located on the globe, that America should be a good 
partner to, should be involved with, should be committed to building the 
future with.
    Today, I am proud to announce our collective effort with the 
Congress to help fulfill the promise of a stable, prosperous, and 
democratic Africa. And like Congressman Rangel and Congressman Moran 
before me, I want to say to you, Congressman Crane, and to you, Senator 
Lugar, we are well aware of the numbers in the United States Congress, 
and we would not be here today if there weren't a number of Republicans 
in leadership positions who care deeply about the future of Africa. And 
we thank you for that.
    This new initiative upon which we have agreed has five key elements.
    First, at the heart of our effort will be significantly increased 
access to our markets for African exports. African countries will be 
able to export almost 50 percent more products to the United States duty 
free. The most committed African reformers will receive even greater 
access. And in the future, the United States will be prepared to 
negotiate free trade agreements with these countries.
    Second, we will increase technical assistance to enable African 
countries to take the fullest advantage of these new programs.
    Third, we will work to increase private investment in Africa. 
Through OPIC, we are creating a new $150 million equity fund to finance 
increased private investment, and a $500 million fund for infrastructure 
investment in the Sub-Saharan region.
    Fourth, we will work to eliminate bilateral debt for the poorest of 
the reforming nations, and maintain our leadership in the effort to 
reduce their debts to the multilateral institutions. I heard you, Mr. 
Ambassador, and I know that you're right.
    Fifth, to maintain our momentum, the United States will hold annual 
economic meetings at the ministerial level with all reforming African 
nations.
    Now, as we deepen our commerce, I believe there will be a continued 
need for bilateral and multilateral development assistance. We know 
that. I am committed to maintaining funds for the USAID programs, the 
international financial institutions, and IDA. But aid cannot substitute 
for economic reform. We know that we must have both.
    Our initiative opens the door to real, positive change. Only nations 
carrying out serious reforms will reap the full benefits. Those who 
strengthen their democracies and invest in their people will see their 
efforts pay off in increased trade that will create new jobs, increase 
wages, spur growth, and improve the quality of lives of people who have 
suffered some of the world's worst poverty.
    As these economies grow, America's prosperity and our security will 
benefit. The potential of a Sub-Saharan market with some 700 million 
people is truly immense. The United States supplies just 7 percent of 
Africa's imports today, but already that supports 100,000 American jobs. 
Just imagine what this initiative can mean to the United States, as well 
as to Africa. Mr. Micek's company has shown what we can do for Africa 
and for our own people.
    I also want to emphasize to all of you that this is about more than 
economics. A stronger, stable, prosperous Africa will be a better 
partner for security and peace, will join us in the fight against the 
new common threats of drug trafficking, international crime, terrorism, 
the spread of disease, environmental degradation. We need partners in 
Africa on every single one of these issues, and in the years ahead we 
will have to have more of them.
    Everyone who has looked at the future, who has predicted the 
challenges we will face, knows that the globalization of our societies 
will mean that all these problems will

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be transnational. They will cross all borders. They will sweep across 
continents. They will move in the flash of an eye, and we must be ready 
to work together.
    By transforming our trade, I'd like to say one other personal thing. 
We're building on the legacy of another person who is not here, the late 
Ron Brown, who believed so much in the promise of Africa.
    It builds on our work to resolve conflicts in Liberia, Burundi, 
Angola; to save hundreds of thousands of lives at risk from famine in 
Somalia and the Horn of Africa; to save so many in Rwanda and Burundi 
from the adversities they have faced. We are proud of our support for 
democratic transition and reconciliation in South Africa and for 
elections throughout the continent. We are proud when President Mandela 
takes the lead in trying to restore peace and harmony to troubled lands. 
And I love to see the United States not in a leadership position but in 
a position of saying, we support President Mandela. And I want more of 
that to occur.
    I do look forward to visiting Africa later this term to pay tribute 
to the nations that have made such historic progress. And as has already 
been indicated by previous speakers, I do intend in Denver in just a few 
days to ask our partners from the other leading industrial democracies 
to join us in this effort. We have to work so that all of our nations 
coordinate policies toward Africa so that we can all encourage reform in 
trade and investment and relief to heavily indebted countries and so 
that we can all participate not only in the responsibilities but in the 
benefits of a growing, prosperous, freer Africa.
    I will ask our partners to join us in urging the international 
financial institutions, the World Bank, the IMF, the Africa Development 
Bank, as well as the United Nations, to create innovative new programs 
so that reforming African nations can succeed in integrating themselves 
into the global economy.
    And if we all persist at this, if we keep working at this, then 
people will look back at this moment as a pivotal one for Africa, for 
America, and for the global community. The Members of Congress of both 
parties who have shown such leadership in this effort have recognized 
that a prosperous, democratic America in the 21st century needs a 
prosperous, democratic Africa.
    They are committed to cementing the ties of culture that bind us in 
heritage. And I might say, this is just the latest sterling example of 
what happens when we put the interests of our people and the values of 
our country throughout the world first and foremost. When we get beyond 
our partisan differences and reach to the depths of the human spirit and 
give light to our vision, we prove that we can advance the cause of 
America, improve the lives of our people, and, in this case, give hope 
to hundreds of millions living on the African continent.
    Thank you all very much.

Note: The President spoke at 2:07 p.m. in Room 450 of the Old Executive 
Office Building. In his remarks, he referred to Ernest Micek, chief 
executive officer, Cargill, Inc.; Ambassador Roble Olhaye of Djibouti; 
Jack Kemp, 1996 Republican candidate for Vice President; James D. 
Wolfensohn, president, International Bank for Reconstruction and 
Development; David Dinkins, chairman of the board, Constituency for 
Africa; Reverend Leon H. Sullivan, chairman and founder, Opportunities 
Industrialization Centers International; former Ambassador to the United 
Nations Andrew Young; C. Payne Lucas, president, Africare; and State 
President Nelson Mandela of South Africa.