Page:United States Statutes at Large Volume 110 Part 2.djvu/747

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PUBLIC LAW 104-171—AUG. 3, 1996 110 STAT. 1539 Public Law 104-171 104th Congress An Act To authorize the extension of nondiscriminatory treatment (most-favored-nation Aug. 3, 1996 treatment) to the products of Romania. [H.R. 3161] Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, Exports and imports. SECTION 1. FINDINGS. 19 USC 2434 The Congress finds that— (1) Romania emerged from years of brutal Communist dictatorship in 1989 and approved a new Constitution and elected a Parliament by 1991, laying the foundation for a modern pariiamentary democracy charged with guaranteeing fundamental human rights, freedom of expression, and respect for private property; (2) local elections, parliamentary elections, and presidential elections have been held in Romania, and 1996 will mark the second nationwide presidential elections under the new Constitution; (3) Romania has undertaken significant economic reforms, including the establishment of a two-tier banking system, the introduction of a modern tax system, the freeing of most prices and elimination of most subsidies, the adoption of a tariff- based trade regime, and the rapid privatization of industry and nearly all agriculture; (4) Romania concluded a bilateral investment treaty with the United States in 1993, and both United States investment in Romania and bilateral trade are increasing rapidly; (5) Romania has received most-favored-nation treatment since 1993, and has been found by the President to be in full compliance with the freedom of emigration requirements under title IV of the Trade Act of 1974; (6) Romania is a member of the World Trade Organization and extension of unconditional most-favored-nation treatment to the products of Romania would enable the United States to avail itself of all rights under the World Trade Organization with respect to Romania; and (7) Romania has demonstrated a strong desire to build friendly relationships and to cooperate fully with the United States on trade matters. SEC. 2. TERMINATION OF APPLICATION OF TITLE IV OF THE TRADE 19 USC 2434 ACT OF 1974 TO ROMANIA. note. (a) PRESIDENTIAL DETERMINATIONS AND EXTENSION OF NON- DISCRIMINATORY TREATMENT.— Notwithstanding any provision of