Statement on Signing the Free Trade Area Implementation
Act
(June 11, 1985)
I have signed today H.R. 2268, the United States-Israel
Free Trade Area Implementation Act of 1985, that approves and provides
the necessary authority to implement the Free
Trade Area Agreement between the United States and Israel.
The signing of this act is the culmination of an effort
that began in November 1983 when former Israeli Prime Minister Shamir and I agreed to begin discussions toward the establishment of a bilateral
free trade area between our countries. On October 30, 1984, I signed
into law the Trade and Tariff Act of 1984 that, among other things,
authorized the negotiation of an agreement with Israel. On April 22,
1985, after completion of negotiations, the Agreement on the Establishment
of a Free Trade Area between the Government of the United States of
America and the Government of Israel was signed in Washington by Ambassador
William E. Brock and Minister of Industry and Trade Ariel
Sharon. Today this act provides congressional approval of that agreement
and provides the necessary legal authority to implement all of its terms.
The passage of this act and the approval of the agreement that underlies
it is of great significance for three reasons:
First, the establishment of the U.S.-Israel Free Trade Area will stand
as a model of the close cooperation between the administration and the
Congress that can bring about a result benefiting all Americans. This
was a bipartisan accomplishment. I especially wish to recommend the
leadership of Senate Majority Leader Dole, Chairman Packwood and Senator
Danforth of the Senate Committee on Finance, and Chairman Rostenkowski
and Representatives Sam Gibbons and Bill Frenzel of the House Committee
on Ways and Means for their efforts in making the U.S.-Israel free trade
area a reality.
Second, the new free trade area between the United States and Israel
represents an important milestone in this administration's efforts to
liberalize trade. We hope that it will also serve to encourage greater
liberalization of the multilateral trading system and that it will help
us move ahead in our continued attempts to expand world trade.
Third, and finally, I believe this new economic relationship with our
friends in Israel will further our historic friendship, strengthen both
of our economies, and provide for new opportunities between our peoples
for communication and commerce. Nothing better demonstrates the shared
community of aspirations between our nations than our promotion of free
and harmonious trade for our mutual benefit.
Note: H.R. 2268, approved June 11, was assigned Public
Law No. 99 - 47.
Sources: Public
Papers of the Presidents, Ronald Reagan, 1982 |