By MacKenzie C. Babb
IIP Staff Writer
17 November 2011
As President Obama wraps up the last leg of his nine-day Asia-Pacific tour, the White House highlights a series of “high-value, historic” private trade deals in the region exceeding $25 billion in value and supporting an estimated 127,000 jobs in the United States alone.
“These cross-border collaborations, both public and private, underpin the expanding strategic partnership between the U.S. and the Asia-Pacific, contributing to economic growth and development,” the White House said in a statement November 17.
Obama has highlighted the Asia-Pacific region as a key market for U.S. exports due to the region’s “tremendous economic growth and its large and growing middle class,” the statement said. The recent deals, the statement added, will contribute significantly to Obama’s goal of doubling U.S. exports by the end of 2014.
A deal by Boeing to sell 230 aircraft to Indonesia’s Lion Air for $21.7 billion will support an estimated 110,000 U.S. jobs, according to the White House. It said the deal is the largest commercial airplane agreement ever for the U.S.-based aircraft manufacturer, as well as one of the largest deals ever between the United States and Indonesia.
Obama is scheduled to join a signing ceremony for the agreement in Bali November 18. The announcement came as Obama arrived in Indonesia for the annual Association of Southeast Asian Nations (ASEAN) meetings and the East Asia Summit.
Ahead of his stop in Bali, Obama met with senior Australian leaders to commemorate the 60th anniversary of the U.S.-Australia alliance and hosted the Asia Pacific Economic Cooperation (APEC) leaders’ meeting in Hawaii November 12–13. The president is scheduled to return to Washington November 20.
Boeing also agreed to sell eight aircraft to Singapore Airlines for $2.4 billion, a deal the White House says will support an estimated 11,000 U.S. jobs.
General Electric has announced a deal to sell 50 engines to Garuda Airlines of Indonesia for $1.3 billion, accounting for an estimated 5,000 jobs across the United States.
Sikorsky Helicopters, a subsidiary of United Technologies, has said it will supply 12 helicopters to the Brunei Ministry of Defense, a deal valued at $325 million and estimated to support more than 1,000 U.S. jobs. The White House said the agreement represents one of the largest defense procurements in Brunei’s history.
The White House said the deals will generate jobs in every corner of the United States and across all major sectors, adding that the agreements involve some of the largest U.S. companies, but also a significant number of small and medium-sized businesses.