Millennium Post

US, China spar over rival FTAs at APEC meet

The differences between the US and China over rival free trade agreements being floated by them threatened to derail the APEC Summit which got off to a colourful start on Monday.

Addressing the Asia-Pacific Economic Cooperation (APEC) CEO meet after his arrival here to take part in the APEC leaders summit, US President Barack Obama asserted that Trans Pacific Partnership (TPP) being floated by Washington is the best for the region.

If completed it will bring 40 per cent of global economy under an agreement for increasing trade, jobs, high standards for workers and intellectual protection, he said. 'If China and the United States can work together, the world benefits,' he pointed out. Obama noted that enhancing China's integration to the world economy is in America's best interest as well as the world's best interest.
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