Good Friday Trade and Investment Act

Summary

Good Friday Trade and Investment Act - Directs the President to report biannually to the Congress on how the United States can assist in the establishment of an acceptable policing force in Northern Ireland. (Sec. 3) Directs the Overseas Private Investment Corporation (OPIC) to establish equity funds with total assets of at least $300 million for the purpose of providing insurance, financing, and other assistance to individuals or entities in Northern Ireland and the border counties of the Irish Republic whose businesses employ practices consistent with the principles of fair employment (such as freedom from religious discrimination). Grants priority of equity funds to projects involving businesses owned and managed by women, and projects involving the development of new technologies. (Sec. 4) Authorizes appropriations for U.S. contributions to the International Fund for Ireland for: (1) projects in the areas of greatest need based upon levels of unemployment, particularly in Northern Ireland and the border counties of the Irish Republic; (2) projects of individuals or entities in Northern Ireland and the Republic of Ireland which employ practices consistent with the principles of fair employment; and (3) certain other priority projects relating to business development in the fields of scientific research, technology, and management. (Sec. 5) Directs the Secretary of Commerce to consolidate activities with respect to promotion of business opportunities in Northern Ireland and the border counties of the Irish Republic to focus on promoting awareness of business opportunities in those counties, including encouraging joint ventures with businesses in those counties, and promoting the development of businesses owned by women. (Sec. 6) Amends the Trade Act of 1974 to authorize the President to designate Northern Ireland and the border counties of the Irish Republic as a beneficiary developing country eligible to receive duty- free treatment under the Generalized System of Preferences for a ten- year period provided certain waivers under the World Trade Organization (WTO) Agreement or the General Agreement on Tariffs and Trade (GATT) are granted. Requires the United States Trade Representative (USTR) to report annually to the Congress on the status of: (1) efforts to acquire such waivers; and (2) trade relations between the United States and Northern Ireland and the border counties of the Irish Republic, and recommendations on how to expand trade between them.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 9 October 1998

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• Introduced in House (PDF)

  Introduced in House · EN · 9 October 1998

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• Introduced in House

  summary · EN · 9 October 1998

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