Remarks to the American business community in Brussels

Weekly Compilation of Presidential Documents, Jan 17, 1994

Beyond that, let me emphasize that when I leave here today after the European Union summit, I am going on to Prague to meet with the leaders of the Visegrad countries. And it seems to me that it is folly to believe that we can integrate Europe through NATO or just on the basis of affinity for democracies, unless we are also committed to the economic integration of all of Europe and to reaching out to our east.

I will be urging the leaders of the European Union today to work with the United States to further reduce trade barriers and increase trade and investment to our east. Today I say to all of you, I hope that you are representing companies that as a result of the activities taking place in these few days will take another and harder look about your prospects in central and Eastern Europe and beyond, because without private investment, we cannot hope to have private economic development.

Oh, I know we have a lot to do in Russia. I know we have a lot to do in the other states of the former Soviet Union and still some work to do in Eastern Europe. And we are doing that. I am going on to Russia after I leave Prague. But in the end, private investment and the development of successful private sectors will determine the future of European integration economically. And without it, I don't believe we can hope to sustain the military and political ties that we are building up.

So I ask you to do that. The United States Government has worked hard to eliminate outdated export controls and to support American companies in Europe. We hope that in turn you will feel emboldened to make more investments further east and to do what you can to improve our prospects to generate higher levels of trade and investment across national borders in ways that benefit people everywhere. For in the end, governments do not create wealth, people like you do.

Soon, your efforts will be sending goods back and forth through the channel. Your capital already is building bonds of commerce and culture across the Atlantic. You are in many ways the pioneers of the new Europe we are trying to ensure. Just by instinct, you will want the kind of integration that we have to work for around the political conference tables. Your determination to enter new markets is a hallmark of the American spirit and can help make the 21st century an American century as well.

I hope you will do that. I assure you that we will work hard to do our part.

Thank you very much.

NOTE: The President spoke at 8:06 a.m. at the Conrad Hotel. In his remarks, he referred to Jim Prouty, president of the American Chamber of Commerce. A tape was not available for verification of the content of these remarks.

//f January 11, 1994

The President. Good morning. As all of you know, this historic summit meeting of the North Atlantic Council was my first NATO meeting. I'm glad we were able to accomplish as much as we did here. I'm convinced that history will record this meeting as a major step in building a new security for the transatlantic community.