Sunday, November 13, 2011

DTN News - APEC SUMMIT IN HONOLULU: Asia-Pacific Region Critical To US Economic Recovery Says Obama

DTN News - APEC SUMMIT IN HONOLULU: Asia-Pacific Region Critical To US Economic Recovery Says Obama
(NSI News Source Info) TORONTO, Canada - November 13, 2011: In the Pacific state of Hawaii, U.S. President Barack Obama on Sunday told leaders of the 21 Asia Pacific Economic Cooperation economies that the region will be key to U.S. economic recovery.

With much of the formal summit activity, including a working lunch, concentrated over a few hours, Mr. Obama underscored the importance of APEC's trade liberalization priorities for the global economy and the United States.

Addressing the opening session, the president said the nearly three billion people in 21 APEC countries are looking to the three-decade-old organization to create opportunities through expanded trade that will boost economic growth and create jobs.

APEC's goals of slashing tariffs and removing trade barriers, Mr. Obama said, are critical for the U.S. economic recovery. "The Asia-Pacific region is absolutely critical to America's economic growth. We consider it a top priority. And we consider it a top priority because we are not going to be able to put our folks back to work and grow our economy and expand opportunity, unless the Asia-Pacific region is also successful," he said.

Mr. Obama said the region is key to his objective of doubling U.S. exports, adding that APEC economies need to work together to spur "quicker, sturdy and sustainable" economic growth.

A final APEC statement is expected to point to progress toward creating what Mr. Obama referred to as a "seamless regional economy," with agreements aimed at boosting trade and investment by promoting "green" jobs, innovation, and streamlining and coordinating regulations.

The United States and eight other APEC nations already have announced agreement on "broad outlines" to create a new Trans-Pacific Partnership trade group, or TPP, that Mr. Obama says would be a model for broader open regional trade.

In addition to the United States, other TPP participants include Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam. China has been critical of the grouping, saying it reflects protectionist tendencies in APEC.

U.S. officials say Mr. Obama was expected to hold additional talks on the sidelines of the summit with Chinese President Hu Jintao. In their main meeting on Saturday, the two men discussed trade and differences over China's currency policies.

The issue of Iran's nuclear program and a recent International Atomic Energy Agency report that provided evidence of secret Iranian weapons development efforts have also been a focus of Mr. Obama's meetings with the leaders of China and Russia.

U.S. officials say China and Russia remain supportive of continuing diplomatic steps aimed at preventing Iran from obtaining a nuclear weapons capability.

Mr. Obama says that he and Russian President Dmitry Medvedev agreed to work to "shape a common response" on Iran against the backdrop of the nuclear report. U.S. officials say consultations will continue about the next steps to increase pressure on Tehran.

APEC Related Images;












APEC Related News;

JAPAN PM PLEDGES FISCAL REFORM AT APEC, SAYS TO JOIN TPP TALKS

Wall Street Journal - ‎14 minutes ago‎
HONOLULU (Dow Jones)--Japanese Prime Minister Yoshihiko Noda on Sunday pledged at an Asia-Pacific Economic Cooperation summit to pursue fiscal reforms to prevent the spread of global credit concerns to Asia in the wake of Europe's debt crisis. ...

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Straits Times - ‎1 hour ago‎
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AFP - ‎1 hour ago‎
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TRANS-PACIFIC PARTNERSHIP

동아일보 - ‎1 hour ago‎
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Times of India - ‎1 hour ago‎
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Wall Street Journal - ‎2 hours ago‎
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TODAYonline - ‎2 hours ago‎
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Business Times (subscription) - ‎3 hours ago‎
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Business Times (subscription) - ‎3 hours ago‎
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CanadianBusiness.com - ‎5 hours ago‎
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THE ASIAN OPENING KNOWN AS TPP

Forbes - ‎6 hours ago‎
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MARRY THE TPP TO THE WTO

Wall Street Journal - ‎6 hours ago‎
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OBAMA CALLS FOR FINALISATION OF TRADE DEAL BEFORE US ELECTION

New Zealand Herald - ‎7 hours ago‎
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CALLS FOR TRADE DEAL TRUTH BEFORE POLLING DAY

Stuff.co.nz - ‎7 hours ago‎
The Government is facing calls to front up before the election on what is at stake in free trade negotiations stretching across the Asia-Pacific area. United States President Barack Obama said at the weekend that negotiators were hoping to wrap up ...

JAPAN'S FREE-TRADE MOVE CRITICIZED

Wall Street Journal - ‎8 hours ago‎
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OBAMA WILL USE WIN IN ELECTION PITCH

The Australian - ‎10 hours ago‎
SELF-interest is always a powerful motivator, so it should come as no surprise that the Obama administration is giving ardent US support to a free trade pact in the Pacific. For Barack Obama, embracing trade liberalisation is all about jobs: American...

JAPAN, U.S. AT ODDS WITH PM NODA'S FREE TRADE COMMENT

Reuters - ‎12 hours ago‎
HONOLULU Nov 13 (Reuters) - Japan has denied a White House statement that Japanese Prime Minister Yoshihiko Noda told US President Barack Obama he would put all goods and services on the negotiating table for trade liberalisation. ...

OBAMA PUSHES TRADE DEAL IN BID TO BOLSTER US FOOTHOLD IN ASIA

BusinessWeek - ‎13 hours ago‎
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NEW ASIA-PACIFIC CLUB SHUNS CANADA

The Province - ‎14 hours ago‎
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BREAKTHROUGH IN MULTILATERAL TRADE NEGOTIATIONS

Channel News Asia - ‎16 hours ago‎
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US BACK FOR MORE: GREENS

Ninemsn - ‎19 hours ago‎
The Australian Greens say the United States is using a new trade deal to get what it missed out on in a bilateral free trade agreement. The party wants Prime Minister Julia Gillard to release the negotiating text for the Trans Pacific Partnership (TPP)...

TPP LEADERS AGREE TO BROAD PACT BY JULY 2012

Bernama - ‎21 hours ago‎
HONOLULU, Nov 13 (Bernama) -- The nine leaders of the Trans-Pacific Partnership (TPP) have agreed to the completion of a broad agreement of the text for a free trade deal by July 2012. US President Barack Obama, who made the announcement after hosting ...

BUSINESS ROUNDTABLE COMMENDS PROGRESS ON TRANS-PACIFIC PARTNERSHIP AND URGES A ...

MarketWatch (press release) - ‎21 hours ago‎
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CANADA WON'T PRE-NEGOTIATE TO GET INTO ASIA-PACIFIC TRADE GROUP, MINISTER SAYS

Globe and Mail - ‎21 hours ago‎
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TPP LEADERS ADVANCE FREE TRADE TALKS

TVNZ - ‎22 hours ago‎
Leaders of the nine countries in the Trans-Pacific Partnership have agreed on broad free trade outlines. The agreement is an important step towards a deal that will benefit New Zealand exporters, Bill English and Tim Groser say. ...

LEADERS EYE FINAL TRANS-PACIFIC DEAL IN 2012

Reuters Canada - ‎Nov 12, 2011‎
HONOLULU (Reuters) - President Barack Obama and eight other leaders said on Saturday they have made good progress on a groundbreaking pan-Pacific trade deal and expected to finish in 2012. ...

LEADERS EYE FINAL TRANS-PACIFIC DEAL IN 2012

Baltimore Sun - ‎Nov 12, 2011‎
HONOLULU (Reuters) - President Barack Obama and eight other leaders said on Saturday they have made good progress on a groundbreaking pan-Pacific trade deal and expected to finish in 2012. "Our nine nations have reached the broad outlines of an ...

LEADERS EYE FINAL TRANS-PACIFIC DEAL IN 2012

Reuters - ‎Nov 12, 2011‎
US President Barack Obama pauses next to Japanese Prime Minister Yoshihiko Noda during the APEC Summit in Honolulu, Hawaii, November 12, 2011. By Laura MacInnis and Emily Kaiser HONOLULU (Reuters) - President Barack Obama and eight other leaders said ...

MEXICO AND CANADA SHOW INTEREST IN TRANS-PACIFIC TRADE PACT

Malaysia Star - ‎Nov 12, 2011‎
HONOLULU: The Trans-Pacific Partnership (TPP) gained momentum when Mexico and Canada expressed their interest to join the pact. Their interest to join the new free trade deal was made known after Japan officially announced its decision yesterday of its ...


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