Obama says U.S. to double exports in 5 years

17:23, January 28, 2010      

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U.S. President Barack Obama said Wednesday that the United States will double exports over the next five years as a way to create more jobs.

"The more products we make and sell to other countries, the more jobs we support right here in America," Obama said in his first State of the Union address at the Congress.

Obama noted that the increase of export will support two million jobs in America.

To help meet this goal, Obama said that his administration is launching a National Export Initiative that will help farmers and small businesses increase their exports, and reform export controls consistent with national security.

"We have to seek new market aggressively, just as our competitors are," Obama said.

He said that "we will continue to shape a Doha trade agreement that opens global markets, and why we will strengthen our trade relations in Asia and with key partners like South Korea, Panama, and Colombia."

The Obama administration has been pushing South Korea to give further concessions to U.S. automakers, who have been ailing at home and have struggled to penetrate Asia's fourth largest economy.

The deal with South Korea would be the largest trade pact for the United States since the 1994 North American Free Trade Agreement (NAFTA) with Mexico and Canada.

As Washington is promoting exports, it is also restricting imports, which has aroused concerns around the world of protectionism.

Source: Xinhua
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