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Leaders: Asia-Pacific free trade vital to recovery

November 14, 2011 12:00:00 AM PST
The Asia Pacific Economic Summit in Hawaii has wrapped up. The 21-nation meeting was held to discuss trade and how to jump-start the international economy.

A U.S.-backed plan to open markets to freer trade got a big boost on Sunday when the leaders from Canada and Mexico joined Japan in expressing support for the deal, dubbed the Trans-Pacific Partnership.

Leaders also agreed on measures to promote green-based economic growth to ensure energy security.

"We continued our efforts to try to get the global economy to grow faster, the strong and balanced growth that we need," President Barack Obama said in a closing speech.

Obama also talked about sanctions aimed at stopping Iran from making nuclear weapons.

"We now have a situation where the world is united and Iran is isolated," said Obama. "And because of our diplomacy and our efforts, we have by far the strongest sanctions on Iran that we've ever seen."

On Monday the president will attend a campaign event in Hawaii before heading off to Australia and Indonesia. The goal of the trip is to boost U.S. business.

The Associated Press contributed to this story.

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