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The White House

Office of the Press Secretary

For Immediate Release March 11, 1993
             Text of Statement for President Clinton
        on Introduction of Production Joint Venture Bill

I want to commend Chairman Jack Brooks, Senator Patrick Leahy, Chairman Joe Biden and the bi-partisan leadership of the House and Senate Judiciary Committees on the introduction today of an important new bill to help create jobs and build a more competitive, hi-tech American economy. This bill -- the National Cooperative Production Amendments of 1993 -- will pave the way for companies large and small to pool their resources and talents in new joint production ventures. It is just the kind of forward thinking initiative we need to drive our economy toward a decade of creative change.

We live in a world in which our competitive advantage flows more and more from our command of high technology, but in which the development and production of hi-tech products has become enormously expensive. It is altogether appropriate to lift the legal barriers that prevent good companies from playing to win in the global market -- provided, of course, that our antitrust laws continue to prevent improper collusion. Now is the time -- as we work together to turn this nation in a new direction -- to strip away outdated impediments to our growth and potential.

I look forward to working with Chairman Brooks, Chairman Biden, Senator Leahy and their colleagues on this important legislation.