US President Barack Obama on Thursday said his administration is upping effort to remove trade barriers and create new market for American businesses, especially their presence in "some of the most dynamic markets in Asia".
"We're upping our efforts to remove barriers to trade and open new markets and new opportunities for American business," Obama said in his address to the US corporate leadership, when he also announced the President's Export Council.
"On a global level, this begins with pushing hard in the Doha Round to improve those negotiations so that they have a higher level of ambition in the way that will translate directly into more opportunities for American exporters," he said.
"Regionally, we're working on the Trans-Pacific Partnership FTA to expand our commercial presence in some of the most dynamic markets in Asia where our businesses run up against barriers in individual markets, we are acting," he said.
Obama said America reached an agreement with China in March and Russia last month to reopen their market to American pork products and US poultry. "These steps are worth more than $1 billion to American business," he said.
The US is also reforming its own restrictions on exports, consistent with its national security interests.
"I've instructed US Trade Representative Ron Kirk to begin discussions to help resolve outstanding issues with the pending Korean FTA before my visit to Korea in November. It's an agreement that will create new jobs and opportunity for people in both of our countries," Obama said.
"US offers some of the world's lowest barriers to trade and when we give other countries the privilege of that free and fair access, we expect it in return," he said.
"Where American producers face unfair trade practices, we'll use every tool at our disposal to enforce trade agreements," Obama said.
He said US exports grew almost 17 per cent over the first four months this year as compared to the same last year. Already this year, the Commerce Department has coordinated 18 trade missions with over 160 companies that compete in 24 countries.
"And we've got eight more planned over the next three months. Their Advocacy Center has assisted American companies competing for export opportunities, supporting $11.4 billion in exports and an estimated 70,000 jobs," Obama said.
