A bill to amend the Arms Export Control Act to require that, in considering proposed military co-production arrangements with foreign countries, there be greater interagency coordination within the executive branch, increased consideration of the economic and trade implications of these arrangements, and consultation with the Members of Congress representing areas which may be adversely affected by the co-production abroad.

Amends the Arms Export Control Act to direct the President to: (1) provide for the coordination among relevant Government agencies when a proposed military coproduction arrangement involving high-technology items is being considered; (2) develop criteria for conducting economic assessments before the United States enters into military coproduction arrangements with foreign countries; and (3) consult with the Members of Congress who represent areas which produce the defense articles that might be produced abroad under a coproduction arrangment.