APEC leaders meet in Yokohama to ponder free trade, growth strategy (2)

12:37, November 14, 2010      

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U.S. President Barack Obama (L) talks with Russian President Dmitry Medvedev during the 18th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) in Yokohama, Japan, Nov. 13, 2010. (Xinhua/Lan Hongguang)

"We don't want to lose the opportunity to sell our goods and services in fast-growing markets. We don't want to lose the opportunity to create new jobs back home," Obama said. "The United States is here to stay."

Obama, who is making a 10-day Asia tour that has already taken him to India, Indonesia and South Korea, said progress has been made toward the U.S. export goals on his trip. And he stressed anew his goal of doubling U.S. exports over the next five years.

"In this region, the United States sees a huge opportunity to increase our exports in some of the fastest-growing markets in the world," he said.

Since its inception 21 years ago, APEC has worked actively in promoting regional economic integration, with a long-term vision of creating a Free Trade Area of the Asia-Pacific (FTAAP).

The leaders are expected to discussed possible pathways to achieving the FTAAP, including existing frameworks like the ASEAN+ 3 and the Trans-Pacific Partnership.

The leaders will also discuss an assessment of the achievement of the Bogor Goals of free and open trade and investment, adopted at a 1994 APEC summit in Indonesia.

The five developed economies -- the United States, Canada, Japan, Australia and New Zealand -- are subject to assessment at the Yokohama APEC summit. Eight developing economies, including South Korea, Singapore and China's Hong Kong, volunteered to participate in the assessment this year.

Source: Xinhua


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(Editor:王千原雪)

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