Page:United States Statutes at Large Volume 97.djvu/1295

 PUBLIC LAW 98-181—NOV. 30, 1983 97 STAT. 1263 TECHNICAL AMENDMENT SEC. 633. (a) Section 1912(b) of the Export-Import Bank Act Amendments of 1978 is amended by strking out "he" and inserting in lieu thereof "the Secretary". (b) Section 1912(a)(2) of the Export-Import Bank Act Amendments of 1978 is amended by striking out "he" and inserting in heu thereof "the Secretary". PART C—TIED AID CREDIT EXPORT SUBSIDIES SHORT TITLE SEC. 641. This part may be referred to as the "Trade and Develop- ment Enhancement Act of 1983". 12 USC 635a-3. Trade and Development Enhancement Act of 1983. 12 USC 635o note. STATEMENT OF PURPOSE SEC. 642. The purpose of this part is— (1) to expand employment and economic growth in the United States by expanding United States exports to the markets of the developing world; (2) to stimulate the economic development of countries in the developing world by improving their access to credit for the importation of United States products and services for develop- mental purposes; (3) to neutralize the predatory financing engaged in by many nations whose exports compete with United States exports, and thereby restore export competition to a market basis; and (4) to encourage foreign governments to enter into effective and comprehensive agreements with the United States to end the use of tied aid credits for exports, and to limit and govern the use of export credit subsidies generally. 12 USC 635o. NEGOTIATING MANDATE SEC. 643. The President shall vigorously pursue negotiations to limit and set rules for the use of tied aid for exports. The negotiating objectives of the United States should include reaching agreements— (1) to define the various forms of tied aid credit, particularly mixed credits under the Arrangement on Guidelines for Offi- cially Supported Export Credits established through the Organi- zation for Economic Cooperation and Development (hereinafter in this part referred to as the "Arrangement'); (2) to phase out the use of government-mixed credits by a date certain; (3) to set rules governing the use of public-private cofinancing, or other forms of mixed financing, which may have the same result as government-mixed credits of drawing on concessional development assistance to produce subsidized export financing; (4) to raise the threshold for notification of the use of tied aid credit to a 50 per centum level of concessionality; (5) to improve notification procedures so that advance notifi- cation must be given on all uses of tied aid credit; and (6) to prohibit the use of tied aid credit for production facili- ties for goods which are in structural oversupply in the world. Presidential action. 12 USC 635p.

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