Singapore, Nov.15 – A massive Asia-Pacific free-trade zone covering 2.6 billion people is a pact on which United States wants to transform. Obama noted to everyone the stake in the future of this region—Asia, because what happens here has a direct affect on our lives at home. This is where we engage in much of our commerce and buy many of our goods. And this is where we can export more of our own products and create jobs back home in the process he said. During his speech in Tokyo, United President Barack Obama announced Washington’s intention to engage in the expansion of the Trans-Pacific Partnership (TPP). He said that “ The United States will also be engaging with the Trans-Pacific Partnership countries with the goal of shaping a regional agreement that will have broad-based membership and the high standards worthy of a 21st century trade agreement. And the Asia Pacific Economic Cooperation forum will continue to promote regional commerce and prosperity, and I look forward to participating in that forum”. A trade deal involving Brunei, Chile, New Zealand and Singapore. More countries have also expressed their interest in joining the trade—Australia, Peru, Vietnam and the United States. But Obama’s remarks about Washington’s plans are the clearest so far. In addition to it US Trade Representative Ron Kirk also highlighted its ambitions for the Trans-Pacific Partnership in his speech in the Asia Pacific Economic Cooperation (APEC) summit in Singapore. They encourage and seek with the current and future TPP participants, to shape a platform with the scope and coverage and the high standards to successfully integrate the Asia-Pacific economies. “Our engagement in the Trans-Pacific Partnership gives us the opportunity to address gaps in our current agreements “the representative said, adding that a future pact would help bring jobs and prosperity to the American people.

Singapore summit host hopes Washington’s accession to the deal would galvanize other economies to participate, allowing the TPP to form the seed for a free-trade zone covering all of APEC’s 21 members.

President Nguyen Minh Triet of Vietnam said on the APEC business forum that their country is working with other partners to study the possibility to join the TPP and that they are working hard on that matter. Singapore Prime Minister Lee Hsien Loong said that if the United States and the other countries join, there will be a significant advance towards the ideal of a free-trade area which encompasses the whole Asia Pacific.” This Massive free trade zone in Asia Pacific is a promising pact that would help more countries out in economic recession, it will provide more jobs and business opportunities that will reform the financial system of the world economy and that the growth of multilateral organizations can advance the security and prosperity of this region.