Monday, December 2, 1996

 

ISSN: 0511-4187; Volume v32; Issue n48

 

Remarks on the Thailand-United States Taxation Treaty in Bangkok, Thailand.

(Transcript)

Total number of pages for this article: 2 FULL TEXT

 

 

� November 26, 1996

 

 

� Mr. Prime Minister, Mr. Deputy Prime Minister, Ambassador Itoh, the

members of the Thai and the American business communities, ladies and

gentlemen, the tax treaty we are about to sign brings to a close 15

years of negotiations and opens a new era of trade and investment

between Thailand and the United States.

 

 

� Mr. Prime Minister, let me personally thank you for pressing for the

conclusion of this treaty. I know how hard you worked and I know how

much it meant to you. Thank you very much.

 

 

� Our countries already enjoy a thriving and growing economic

partnership. The United States is Thailand's largest export market, its

second largest trading partner, with two-way trade in excess of $18

billion a year. But until today our companies were at a competitive

disadvantage since many other countries already have treaties with

Thailand that prevent double taxation in the home country and in

Thailand. Now a more level playing field will encourage our businesses

to play an even larger role in Thailand's economic success story: to

sell their products, to make investments, to share technology, to help

to develop Thailand's remarkable human resources through training.

 

 

� The success story of Thailand has been called a miracle. A more

down-to-earth and realistic explanation lies in the hard work and fierce

determination of the Thai people and the enlightened leadership of their

government. You have proved that human resources matter the most if

people are free to invent, to trade, and to dream. Today's signing

reminds us that governments do not create wealth but governments can

create the climate in which our workers, our entrepreneurs, our

investors and business people can have a free and unfettered opportunity

to thrive. That is our goal with this treaty, our goal with the civil

aviation agreement recently signed, with the Thai Parliament's decision

to set up an intellectual property rights court, with the ongoing

consideration of a strong patent protection law.

 

 

� Let me say to the members of the American business community who are

here today and here in Thailand every day, the growth of our economy and

the quality of our jobs is strengthened by your leadership. By trading

and doing business beyond our borders, you keep our Nation engaged in

the frontlines of the global economy and global opportunity. To you, to

our Thai partners, to the members of both governments whose hard work

has brought us to this day, I thank you for your dedication and for your

vision. The 21st century can be a time of remarkable possibility if we

give people an opportunity to make the most of their potential. Today

the doors of opportunity have been opened a little wider, and all of you

who played a part in that effort can justly be proud.

 

 

� Thank you very much.

 

 

� NOTE: The President spoke at 11:26 a.m. in the garden at the Grand

Palace. In his remarks, he referred to Prime Minister Banhan

Sinlapa-acha and Deputy Prime Minister Amnuai Wirawan of Thailand and

U.S. Ambassador William H. Itoh. Following the President's remarks,

Ambassador Itoh and Deputy Prime Minister Amnuai signed the treaty. A

tape was not available for verification of the content of these remarks.