Remarks Upon Departure for Asian/Pacific Nations

Today I leave on a 12-day journey to a region of critical importance to the interests of this Nation. We'll be visiting four Asian/Pacific nations, home to some of the world's most dynamic economies. On my visits to Australia and Singapore, to Korea and Japan, I will get a firsthand glimpse of America's economic future, a world in which we will conduct more and more business and trade with partners in Asia, Europe, and Latin America.

In this new world, old notions no longer apply. The sharp lines that once separated foreign and domestic policy have been overtaken by a new reality. If we want to put people to work here at home, we've got to expand trade and to open markets. These new economic realities have not eclipsed the security concerns that continue to demand our attention throughout East Asia. I'll make very clear to each country I visit that America remains committed to the cause of freedom and democracy, that America will remain engaged in the Pacific area economically, politically, and militarily. After all, we are a Pacific nation, and we should care about what our allies in that region have to say. Our Asian/Pacific friends will play a crucial role in helping us build a post-cold-war world defined by prosperity and trade, not poverty and isolationism.

But let me make very clear the focus of this trip. My highest priority is jobs, and I want us to build a foundation for sustained economic growth and an ever-increasing supply of good jobs for American workers. Here at home, all of us are concerned about our sluggish economy. One way to get this economy growing again is to open up markets abroad for American goods and services. The goods we make here in America, the services we provide, are second to none. More exports mean new jobs. Each billion dollars in new manufactured exports supports 20,000 new American jobs.

The markets of East Asia offer great opportunity. Last year we conducted more than $300 billion worth of two-way trade with the nations of the Pacific Rim. That is more than with the nations of Europe. And yet we know that for many industries and sectors of our economy, the potential of our Pacific markets remain largely untapped.

My message in each country I visit will be this: Free trade is a two-way street. Certainly American companies ought to show greater commitment to these markets. And while nations such as Singapore have taken great strides to build a tradition of free and open trade, there are still too many countries where markets are closed to quality American goods and services. There are still too many countries whose consumers want but cannot buy American products. We seek no special benefits, no rules stacked in our favor, just open markets, trade that is free and fair.

I'll have help driving this message home. Executives from 21 of America's leading companies and business organizations will travel with me. Some of them now do business in Asia. All of them are ready to work hard in these markets to blaze a trail other American companies, large and small, can follow.

They are also realistic about what we cannot expect from this trip. We cannot expect to achieve complete accord. This trip won't solve all the trade issues that now concern us or produce a new export boom overnight. But we will do all we can to make progress, to drive down the barriers abroad that inhibit the creation of jobs and opportunity at home. Actions such as that taken yesterday by the Central Bank of Japan to lower the discount rate one-half percent certainly do help.

America can meet the challenges of the new world taking shape around us. Some nations fear the future. They see chaos in change. But America is a Nation drawn forward by what is new. I am certain, I am absolutely confident that America can continue to lead and that in the new world Americans will prosper.

Thank you, and may God bless our great country. And now we'll head off to Australia. Thank you very much.