Obama launches trade deal in Asia push
18.05.12
“Together we can boost exports and create more goods available for our consumers, create new jobs, compete, win in the markets of the future,” Obama said, framing the Asia-Pacific as the key to restoring global economic growth.
Leaders from nearly 20 nations, including China and Japan, gathered for weekend meetings in Hawaii, where sunbathers and surfers had to skirt beach barricades and traffic snarls frustrated the famously laid-back locals.
Obama said nine countries had reached a “broad outline” on a free trade pact called the Trans-Pacific Partnership, or TPP. “Our goal is by next year to get the legal text for a full agreement.”
Japanese Prime Minister Yoshihiko Noda gave a major boost ahead of the summit as his nation became the 10th member of the TPP, meaning that it will cover more than one-third of the global economy.
“I have been extremely impressed already with the boldness of his vision,” Obama said after meeting the newly installed leader in Hawaii ahead of Sunday’s formal opening of the Asia-Pacific Economic Cooperation (APEC) forum.
Source: Inquirer.net