U.S. President Barack Obama said that the United States will refocus its attention on the Asia Pacific region.

U.S. President Barack Obama waves to the public inside Parliament House as Australian Prime Minister Julia Gillard looks on in Canberra on November 16, 2011.[Xinhua]

Obama laid out a vision of the U.S. role in the Asia Pacific region while addressing Australia's Parliament in Canberra on Thursday.

The United States is going to play a larger role and a long-term role in shaping the future of the region, the President said.

"Let there be no doubt: in the Asia-Pacific in the 21st century, the United States of America is all in," he said.

Obama said that Asia Pacific region is "a growing region" and "a vital region" and is becoming increasingly important.

"I am making it clear that the United States is stepping up its commitment to the entire Asia Pacific," Obama said.

Obama said that deepening alliance between Australia and the U.S. sends a clear message of U.S. commitment to this region, "a commitment that is enduring and unwavering." He said he will reaffirm the commitment in Bali as the United States joins the East Asia Summit.

"The United States is going to be a huge participant in both economic and security issues in the Asia Pacific region."

"The economy in this area is going to be the engine for world economic growth for some time to come, Obama said. "The lines of commerce and trade are constantly expanding."

"And it’s appropriate then for us to make sure that not only our alliance but the security architecture of the region is updated for the 21st century," Obama said.

He also dismissed the idea that the U.S. fears China's rise, saying that he welcomes "a rising, peaceful China."