SINGAPORE — President Barack Obama raised hopes for creating an Asia-Pacific free-trade region by announcing Saturday that the U.S. would seek to join a smaller group seen as a precursor to a broader Pacific Rim agreement.
News that the U.S. would participate in the Trans-Pacific Partnership, joining Chile, New Zealand, Singapore and Brunei, was announced in Tokyo and Singapore, drawing applause at the Asia-Pacific Economic Cooperation forum.
“Significant steps like the TPP are important to help keep up the momentum in our efforts to realize the . . . vision” to create a region-wide free-trade area, Singapore Prime Minister Lee Hsien Loong told other leaders at their weekend summit here.
There have been concerns that the U.S. might turn inward as it grapples with the global financial crisis.
