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28. asia pacific leaders on track to sign trade deal

Tue Oct 8, 2013, 08:08 AM

Oct 2013

http://hosted.ap.org/dynamic/stories/A/APEC_FREE_TRADE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-10-08-06-37-11

BALI, Indonesia (AP) -- The U.S. and 11 other nations negotiating an Asia-Pacific free trade pact said Tuesday they are on track to agree a comprehensive deal before the year's end.

A statement by the 12 leaders after an Asia-Pacific Economic Cooperation summit in Bali said they made "significant progress" in setting standards for trade in goods and services, and for investment and public procurement.

It said they agreed "to resolve all outstanding issues with the objective of completing this year a comprehensive and balanced, regional agreement."

The initiative, known as the Trans-Pacific Partnership, was launched at the 2011 APEC in Honolulu as part of President Barack Obama's shift to a closer focus on Asia. One aim is to significantly boost U.S. exports to the region and create jobs. The nations involved are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam.

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