As a Californian, I've long recognized the importance of the Pacific region. And I am pleased that during this administration we've been able to expand and deepen our ties with the countries of the Pacific Basin. And I look forward to hearing your views on the issues that we face.

The market-oriented economies of the Pacific have achieved a sustained and impressive economic growth. We in the administration value highly our relationship with the countries of the Pacific. We look forward to working with them to develop policies which will sustain the impressive record of economic growth for the benefit of our citizens, of our Pacific partners, and our global, free-market system.

President Theodore Roosevelt said almost at the turn of the 20th century, years ago, that the Atlantic was the ocean of the present and the Pacific is the ocean of the future. Well, I think his vision was a clear one. And today I think we've seen proof of that.

I congratulate all of you on your foresight and commitment to recognizing the importance of the Pacific to our nation's future and acting upon it. Your advice and counsel will be important to our continued effort. Your group includes four Senators, four Members of the House, seven members of the executive, in their unofficial capacity, and I think this demonstrates a bipartisan commitment of both branches. And all of us are in your debt for what you're doing and wish you well. Thank you very much.

Note: The President spoke at 9:44 a.m. in the Rose Garden at the White House.