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Trade protectionism "short-sighted" approach: U.S. official

01-05-2012 09:05 BJT

WASHINGTON, Jan. 4 (Xinhua) -- Trade protectionism was a "short- sighted" approach, while deeper trade and economic integration in the Asia and Pacific region could help the United States create more jobs and improve its competitiveness, Michael Froman, U.S. Deputy National Security Adviser for International Economic Affairs, said here on Wednesday.

Asia has emerged as the most dynamic region in the world, and tapping new trade and investment opportunities in this region was of great importance to U.S. job creation, Froman said at an event under the theme of "Recovery Through Growth in Asia and the Next Generation of Regional Trade Agreements" held by the Center for Strategic and International Studies (CSIS), a Washington-based think tank.

The Trans-Pacific Partnership (TPP) was one of the most important developments in global trade system, and represented one key step of U.S. reengagement with Asia, said the top White House adviser of international economic issues.

Closer economic ties with Asian countries were conducive to U.S. exports of goods and service, the recovery of U.S. manufacturing sector, big and small businesses, Froman stressed.

The United States was pushing to achieve as much progress as possible on TPP negotiations in 2012, a presidential election year in the United States, with partners including Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam.

As U.S. President Barack Obama geared up his reelection bid, the administration has stepped up efforts to re-invigorate the economy by expanding exports and strengthening the manufacturing sector.

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Editor:Zhang Hao |Source: Xinhua

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