I agree with MarkerInbound. This regulatory ammendment provides the groundwork for the FAA to be able to negotiate Bilateral Aviation Safety Agreements (BASA) and Implementing Procedures for Licensing (IPL) with other countries. A step in the right direction and inline with the spirit of ICAO Annex 1. It is hard to see though how many countries will jump on to this one. I doubt the Europeans will be keen to roll over that easily (remember, this is a reciprocal agreement).