Obama says US has a stake in Asia's future
"In today's interconnected world, what happened in Japan or China or Indonesia also has a direct effect on the lives of the American people, that's why the Asia Pacific is where the United States engages in much of our trade and commerce," said Obama in a keynote speech delivered at the meeting.
Obama said seven of America's 15 top trading partners are APEC members, and sixty percent of the goods are exported to the region, and United States is also the largest export destination for Asia.
"This is a relationship that will only become more important as this region continues to grow," he said.
"Within five years the Asia's economy is expected to be 50 percent larger than it is today, and at least the next four years, the Asia-Pacific's economy will grow faster than the world average. Undoubtedly, this rapid growth will lead to a healthy competition of jobs and industries for the future," said Obama, adding the United States will try to bring the jobs and industries to the America; Kazinform cites China Daily.
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