November 14, 2011

HE MIGHT FINALLY BE FIGURING OUT STIMULUS:

Obama: Hoping for Pacific free trade plan by 2012 (ELAINE KURTENBACH, 11/14/11, BusinessWeek)

Pacific Rim leaders gathered for an annual summit in Hawaii pledged Saturday to work together to keep world growth on track, as President Barack Obama announced the broad outlines of a plan he said could serve as a model for a trans-Pacific free trade zone.

"There are still plenty of details to work out, but we are confident that we can do so. So we've directed our teams to finalize this agreement in the coming year," Obama said while seated beside leaders of eight other nations involved in the negotiations toward setting up what has been dubbed the Trans-Pacific Partnership.

"It is an ambitious goal, but we are optimistic that we can get it done," he said.

The trade zone can serve as a model for the region and for other trade pacts, increasing U.S. exports and helping to create jobs, a top priority, in the fastest growing region in the world, said Obama, who made promoting the so-called TPP a priority in hosting this week's summit in his hometown, Honolulu.

Posted by at November 14, 2011 3:58 PM
  

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