Obama announces outline of deal on trade zone

Obama announces outline of deal on trade zone

November 12th, 2011 by Associated Press in Local Regional News

President Barack Obama waves as he walks on the South Lawn of the White House in Washington.

Photo by Associated Press/Times Free Press.

HONOLULU - President Barack Obama has announced the broad outlines of an agreement to create a transpacific trade zone. He says details must still be worked out, but expresses confidence the new free trade zone encompassing the United States and eight nations would get done.

The president, in Hawaii for the Asia-Pacific economic summit, on Saturday called the agreement a model for the Asia-Pacific region and for other trade pacts. Seated with the leaders of the eight other nations, Obama said the trade zone would increase U.S. exports and help create jobs, a top priority.

Obama called the region the fastest growing in the world.