Expressing the sense of the Congress that the United States should pursue the establishment of a Pacific Basin forum for the discussion of economic, diplomatic, and other issues unique to the region, and for other purposes.

Expresses the sense of the Congress that: (1) the United States should pursue the establishment of a Pacific Basin forum for the discussion of economic, diplomatic, and other issues unique to the Pacific Basin region; (2) the United States should encourage an exchange of proposals to promote free trade and economic development and reduce military tensions in the region; and (3) the President should call for an annual summit meeting with the leaders of key Pacific Rim nations.