Obama says U.S. has stake in Asia's future

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U.S. President Barack Obama said Saturday at the APEC CEO summit in Yokohama,Japan  that the United States 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 top 15 trading partners are APEC members, and sixty percent of the country's export goes 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.

"If we work together and act together, strengthening our economic ties can be a win-win situation for all of our nations."

Obama said the United States wanted to "get back to doing what America has been known for" -- discovering and creating and building the products that are sold all over the world.

"That's why we set the goal of doubling our exports in the next five years. This is a big part of what brought me to Asia this week."

He said he sees a huge opportunity to increase U.S. exports in some of the fast growing markets in the region.

"The United States is also looking to expand export and commerce toward the Asia Pacific," Obama said. "Our overall share of trade in the region has declined in favor of our competitors and we want to change that."

He said the Americans want to continue to work with fellow APEC members to reduce trade barriers, facilitate trade and open market throughout the Asia Pacific.

"When it comes to this sprawling region of the world, the United States is here to stay. We are invested in your success because it is connected to our own. We have a stake in your future because our destiny is shared," he said.

Obama is here to attend the annual APEC leaders' meeting on Saturday and Sunday.

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