Bush Urges Pacific Rim Unity on Trade, Terrorism (1/2)

President Bush says the Pacific rim can be an agent for change around the world.

He says when it comes to trade, the stakes are high. He says the nations of the Pacific rim - a region which accounts for nearly half of all international trade - have the clout to move the stalled world trade talks forward. "The United States has both the will and the flexibility to help conclude a successful Doha Round, and we urge all our APEC partners to joint us in this vital effort."

Mr. Bush acknowledges that the notion of free trade has many critics who charge it costs jobs in industrialized nations and takes advantage of the poorest of the poor in developing countries. He says the business community - one of the greatest proponents of free trade - has an obligation to educate the public.

"I hope you understand this: the surest road to stagnation and instability is the path of isolation and protectionism. The only road to enduringprosperity and stability is though open markets and open trade."

Trade is a top item on the agenda for the APEC summit in Sydney, along with climate change.