The Final State of the Union
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Summary:
The 21 member countries of the Asia-Pacific Economic Cooperation, or APEC, purchased $774 billion of U.S. exports in 2010.
Over the weekend, the United States hosted the 19th annual leaders meeting of the Asia-Pacific Economic Cooperation, or APEC in Honolulu. APEC promotes trade and economic cooperation among 21 countries in the Asia-Pacific region. In 2010, APEC economies purchased $774 billion worth of U.S. exports, accounting for 61 percent of total U.S. exports.
Trade with these APEC nations supports 5 million American jobs, and strengthening our relationship with other economies in the Pacific region—and their 2.7 billion consumers—will help create new business opportunities, jobs, and buying power for Americans.
Leaders at this year’s summit agreed to adopt innovative market policies, reduce tariffs and barriers to trade in environmental goods and services, and improve regulations that create burdens on businesses.
President Obama knows that we can’t wait to create jobs like the ones fostered by cooperation in the Asia Pacific region. In addition to working hard with world leaders to create economic opportunity and jobs through trade, he introduced the American Jobs act to put our millions of unemployed workers back on the job while helping businesses invest and grow. And, he’s signed a series of Executive Actions to ensure our workers don’t have to wait for Congress to act. These orders range from challenges to establish innovative and job-creating health and education programs, to initiatives that connect unemployed veterans with jobs, to steps that help developers bring their projects to market more quickly.
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