The President will work with Congress to establish a Southeast Europe Trade Initiative. The initiative will promote economic development and stability in Southeast Europe by increasing access to the U.S. market and stimulating regional investment. The program will be established for a five-year period to ensure a predictable environment for businesses and allow adequate time for sustainable trade flows to develop. As part of the program, we will continue our important work of promoting accession of countries to the World Trade Organization on commercial terms. We plan to expand technical assistance to the counties in the region on WTO disciplines and hope that other countries will do likewise.
Accession is an important tool in fostering economic transition to market economics.
The President will ask Secretary Daley, OPIC Chairman George Munoz and Export-Import Bank Chairman Jim Harmon to organize a major commercial development mission this fall in lead a delegation to the region to bring together American businesses leaders, with regional government officials and business leaders. The mission will allow regional officials and businesses to meet with American companies and provide a forum to discuss impediments to investment in the region as seen through the eyes of the private sector. It will also provide a forum for regional officials and local businesses to hear from U.S. investors and businesses what they feel are the challenges that must be overcome to attract private sector investment.