TEXT: PRESIDENT GRANTS JACKSON-VANIK, OTHER WAIVERS TO VIETNAM
(Participation in EX-IM, OPIC, AID programs now possible)

Washington -- President Clinton granted Vietnam a waiver of the Jackson-Vanik Amendment of the 1974 Trade Act March 10.

In a statement that same day, the White House press secretary said: "This waiver, together with related determinations and waivers to the Export Import Bank Act and the Foreign Assistance Act, will permit Vietnam to participate in U.S. export promotion and investment support programs, including those associated with the Export Import (EX-IM) Bank, the Overseas Private Investment Corporation (OPIC), the Maritime Administration (MARAD), and the Agency for International Development (AID). The support provided by EX-IM, OPIC, and MARAD programs will help American firms operating in Vietnam to compete more effectively in the Vietnamese market."

According to the press secretary, the President based his decision on Vietnam's track record of progress on emigration over the past 13 years, and its accelerated efforts in recent months. Since 1979, the statement said, more than 480,000 Vietnamese have legally entered the United States through the Orderly Departure Program (ODP).

"The President believes that waiver of the Jackson-Vanik restrictions is the best way to encourage further progress," the statement said.

Following is the official White House statement on the waiver and the texts of the March 9 Presidential Determinations granting the waivers to the Trade Act of 1974 and the Export Import Bank Act:

(begin statement text)

STATEMENT BY THE PRESS SECRETARY

Jackson-Vanik Waiver for Vietnam

The President has granted Vietnam a waiver of the Jackson-Vanik Amendment of the 1974 Trade Act. This waiver, together with related determinations and waivers to the Export Import Bank Act and the Foreign Assistance Act, will permit Vietnam to participate in U.S. export promotion and investment support programs, including those associated with the Export Import (EX-IM) Bank, the Overseas Private Investment Corporation (OPIC), the Maritime Administration (MARAD), and the Agency for International Development (AID). The support provided by EX-IM, OPIC, and MARAD programs will help American firms operating in Vietnam to compete more effectively in the Vietnamese market.

The President based his decision on Vietnam's track record of progress on emigration over the past 13 years, and its accelerated efforts in recent months. Since 1979, more than 480,000 Vietnamese have legally entered the United States through the Orderly Departure Program (ODP). More recently, Vietnam has improved its implementation of the Resettlement Opportunity for Vietnamese Refugees (ROVR) program, which provides a last opportunity for settlement in the United States to Vietnamese held in refugee camps in Southeast Asia. And Vietnam has modified its emigration regulations to expedite interviews by the U.S. Immigration and Naturalization Service (INS). Vietnam has located and presented for interview by the INS 14,000 of the estimated 18,000 persons the United States believes are eligible for the program. Vietnam also has pledged to provide an accounting for those persons the United States has concluded are eligible for ROVR, but whose names do not appear on the list of cleared applicants provided by Vietnam. And Vietnam has committed to issue passports to applicants approved by the INS for resettlement in the United States.

The Jackson-Vanik Amendment authorizes the President to waive restrictions that would otherwise be required on activities such as U.S. government credit and investment guarantees, and the conclusion of commercial agreements if he determines that waiver will substantially promote freedom of emigration. The President believes that waiver of the Jackson-Vanik restrictions is the best way to encourage further progress.

(end statement text)

(begin Trade Act determination text)

March 9, 1998

Presidential Determination
No. 99-17

MEMORANDUM FOR THE SECRETARY OF STATE

SUBJECT: Presidential Determination on Section 402(c) (2) (A) of the Trade Act of 1974 -- Vietnam

Pursuant to section 402(c) (2) (A) of the Trade Act of 1974 (Public Law 93-618, January 3, 1979; 88 Stat. 1978, 19 U.S.C. 2432(c) (2) (A)) as amended (the "Act"), I determine that a waiver by Executive order of the application of subsections (a) and (b) of section 402 of the Act with respect to Vietnam will substantially promote the objectives of section 402.

You are authorized and directed to publish this determination in the Federal Register.

WILLIAM J. CLINTON

(end Trade Act determination text)

(begin EX-IM Act determination text)

March 9, 1998
Presidential Determination
No. 98-18

MEMORANDUM FOR THE SECRETARY OF STATE

SUBJECT:

Presidential Determination Under Subsection 2 (b) (2) (D) of the Export-Import Bank Act of 1945, as Amended -- Vietnam

Pursuant to subsection 2(b) (2) (D) of the Export-Import Bank Act of 1945, as amended, I determine that it is in the national interest for the Export-Import Bank of the United States to guarantee, insure, extend credit, and participate in the extension of credit in connection with the purchase or lease of any product: or service by, for use in, or for sale or lease to Vietnam.

You are authorized and directed to report this determination to the Congress and publish it in the Federal Register.

WILLIAM J. CLINTON

(end EX-IM Act determination text)

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