Obama touts progress made by APEC leaders

U.S. President Barack Obama said?in Honolulu on?Sunday that leaders from the Asia-Pacific Economic Cooperation (APEC) forum have made progress in facilitating trade, promoting green growth and streamlining regulations.

Obama made the statement after concluding the annual consultations of the APEC leaders earlier in the day, which he chaired this year.

The leaders focused their discussions on strengthening economic integration and expanding trade, promoting green growth and advancing regulatory convergence and cooperation.

Besides the three prioritized areas in the discussions, Obama also said leaders have made progress in helping small businesses and formulating new initiatives for business people to travel easier and faster.

With a combined share of about half of the world's economy and trade, Obama said, the Asia-Pacific region is key to realizing his goal of doubling U.S. exports and creating more local jobs.

"No region will do more to shape our economic future than Asia-Pacific," Obama said.

According to the White House, leaders have agreed on "a comprehensive set of measures to increase economic growth and job creation by expanding trade and investment in the Asia-Pacific region."

The leaders agreed to adopt "market-driven innovation policies, reduce tariffs and eliminate other barriers to trade in environmental goods and services, and improve regulatory environments to reduce unnecessary burdens on businesses." ' As the world economy faces headwinds and spillovers from the eurozone crisis and slow recovery in developed economies, Obama said leaders were also focusing on restoring world economic growth.

"We are here for business. We are here to promote exports," Obama said.