Yesterday, President Obama kicked off the yearly Asia-Pacific Economic Cooperation (APEC) Ministers and Economic Leaders’ Meeting in Honolulu, Hawaii. In the morning, the President met with Trans-Pacific Partnership (TPP) leaders, Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam.President Obama announced in November 2009 the United States’ meaning to participate in the Trans-Pacific Partnership (TPP) negotiations to finish an ambitious, next-generation, Asia-Pacific trade agreement that reflects U.S. priorities and standards.
This agreement will boost U.S. economic growth and support the formation and retention of high-quality jobs at home by increasing American exports to a region that includes some of the world’s most robust economies and that represents more than 40 percent of global trade.
As the President noted yesterday:We just had an excellent meeting, and I’m very satisfied to announce that our nine nations have reached the broad outlines of an agreement. There are still abundance of details to work out, but we are confident that we can do so. So we've bound for our teams to finalize this agreement in the coming year. It is an determined goal, but we are optimistic that we can get it done.
The TPP will boost our economies, lowering barriers to trade and investment, increasing exports, and creating more jobs for our people, which is my number-one priority. Along with our trade agreements with South Korea, Panama and Colombia, the TPP will also help attain my goal of doubling U.S. exports, which support millions of American jobs.Later in the day, President Obama participated in an APEC CEO Business summit, including a question and answer session with Boeing CEO, Jim McNerney.