Obama’s Weekly Address: Asia Pacific Region Vital to US Economic Growth

Following his nine-day trip through the Asia-Pacific, President Obama argued the region is vital to creating jobs back home and “building an economy that lasts.”

Speaking from Indonesia the president said “the progress we’ve made in opening markets and boosting exports here will help create more jobs and more growth in the United States.”

Obama argued that over the last decade the U.S. relied too much “on what we bought and consumed” and now “we have to restore America’s manufacturing might” and open new global markets.

The president, who visited Hawaii, Australia and Indonesia on his trip, said that “no market is more important to our economic future than the Asia Pacific – a region where our exports already support five million American jobs.”

As an example of the potential growth in the region, the president touted trade deals between U.S. and Asian companies, which he said will support nearly 130,000 American jobs and increase exports by a potential $39 billion.

“These agreements will help us reach my goal of doubling American exports by 2014 – a goal we’re on pace to meet. And they’re powerful examples of how we can rebuild an economy that’s focused on what our country has always done best – making and selling products all over the world that are stamped with three proud words: ‘Made In America,’” Obama said.