Pacific trade pact gets boost from US neighbors
The news was a coup for President Barack Obama, who made progress on the pact one of his top priorities for the Asia-Pacific Economic Cooperation summit being held in his home state of Hawaii. It comes after Japan, the world's third-biggest economy, said it would join the nine nations already involved in talks on what has been dubbed the Trans-Pacific Partnership.
The balmy weather for the annual APEC gathering at a resort on the west side of the Hawaiian island of Oahu contrasted with deepening pessimism over the economic outlook as the leaders sat down for a day of talks on how to spur growth and create jobs. With Europe again on the brink of recession, Asia's vital role as a driver of global growth has gained even greater urgency.
"Now it's time to get down to work, and we have much to do," Obama said in opening the meeting. "Our 21 economies — our nearly 3 billion citizens — are looking to us to bring our economies closer at http://www.monclerjackets2011outlet.com/, to increase exports, to expand trade and opportunity that creates jobs and economic growth. That's why we're here."
Canadian Prime Minister Stephen Harper said his country must look to the East to ensure markets, especially for its energy exports. "That will be an important priority of this government going forward," Harper said before meeting with Obama on the sidelines of the 21-member APEC summit.
The U.S. Trade Representative, Ron Kirk who wants to buy moncler jackets, welcomed the overtures from Canada and Mexico about joining the so called TPP, issuing a statement calling them America's "neighbors and largest export markets."
Obama has said he is optimistic that work on the American-backed trade pact could result in a legal framework by next year.