PRESIDENT CALDERÓN: (As interpreted.) Good morning, Mr. President, President Barack Obama, President of the United States; distinguished members of the delegations, and distinguished members of media. Thank you for being with us today.
First I would like to say that it is very important for me to be able to share great news with you. But before doing that, I would like to thank personally, and on behalf of the Mexican nation, President Barack Obama for his valuable decision by executive order to give an opportunity for young people who were not born in the United States but who arrived in that great nation before they were 16 years of age, or who are studying in university, or who have served in the United States armed forces, for them not to be deported for at least a period of two years, so this is a clear and certain situation for them.
We believe that this is very just. It's a humanitarian action. And it's an unprecedented action in our opinion. And in this sense, Mr. President, we would like to thank you for the valor and courage that you had in implementing this action. I am sure that many, many families in the United States of America are thankful to you as well.
I'd also like to inform you that President Barack Obama and I have had a very fruitful meeting. We have touched upon issues of great relevance for the success of the G20 summit. But there's one topic of the greatest importance that we'd like to share with you, and that is that the United States, together with the other eight countries that make up the TPP -- the Trans-Pacific Partnership -- have welcomed Mexico for it to join the negotiations of this initiative.
The Trans-Pacific Partnership is an expansion of the trade agreement that was known initially as P-4, and that began in 2006 by Brunei, Chile, New Zealand and Singapore. And this commercial trade initiative was added into by Australia, the United States, Malaysia, Peru, and Vietnam afterwards. So this is one of the free trade initiatives that's most ambitious in the world and would foster integration of the Asia Pacific region, one of the regions with the greatest dynamism in the world. And this region negotiating the TPP represents 26 -- of the world's GDP, 15 percent of exports and 12 of imports.
But most importantly, at this time of recession in some areas of the world, of a slowdown in others, the TPP, or Trans-Pacific Partnership, perhaps represents the greatest potential area of growth in an entire decade. So this is a great piece of news for Mexicans because it implies jobs and economic growth for at least the next two decades.
So the invitation that is made to Mexico by these nine nations to join the negotiations of the TPP also recognizes Mexico's efforts in trade and reaffirms Mexico's weight within the new economic and international financial context.
The fact that President Barack Obama has communicated to me that Mexico is being invited to join this negotiation is a sample of the solidarity of our relationships, and the joint, or shared, responsibility that President Obama has taken on in our bilateral agenda, as well as issues of competitiveness and greater trade. Better and more trade is more jobs and growth for Mexicans, more growth and jobs for the United States as well.
So it's very important for Mexico to join this process. I know that other nations want to join the TPP, and I hope that they'll be able to do that soon. Clearly, current members of the TPP have recognized the possibilities of what this means and the contribution to the Mexican economy ibeing part of this process.
Our business sector has welcomed this initiative, and I'd like to thank that sector for supporting the Mexican government in entering into this. And I'm sure that this will imply a great deal of jobs for us. In short, I believe that the TPP and the United States' support for Mexico's joining the initiative opens a door to Mexico in the 21st century in terms of trade integration. And I'm sure that the negotiations that we will be undertaking in the next months will be beneficial for Mexico, beneficial for the United States, and beneficial in general for all of the countries who have a coast on the Pacific. And this will be enable us to have further economic growth and prosperity as a result.
Thank you very much, Mr. President, for both things -- for the humanitarian action that you undertook this week, as well as for the support to Mexico in this matter.
PRESIDENT OBAMA: Well, thank you very much. Let me begin by thanking President Calderón and the Mexican people for their extraordinarily gracious hospitality in this beautiful setting. We are confident that this will be a very productive summit thanks to all the organization and efforts that have been made by you.
On the bilateral relationship, I think that because of the work that we've done together, Mr. President, the bonds that were already so strong between our two countries have become stronger. And the Trans-Pacific Partnership negotiations that you just referred to are a good example.
We are obviously two of our most important trading partners to each other, but we both recognize that growth is going to take place in the Asia Pacific region. We are part of that network of nations that are growing and dynamic. And for us now to be able to create a high standard trade agreement that further increases job opportunities, commercial opportunities, investment opportunities, I think will benefit citizens in both our countries that are eager to compete and to be able to prosper in a global market.
And you have personally shown significant courage and hard work in being able to join these negotiations. We appreciate your negotiations efforts. We think it will be good for Mexico; we think it will be good for the United States; and we think it will be good for the region as well.
With respect to the summit, obviously we are going to be very busy over the next day and a half. The world is concerned about the slowing of growth that has taken place. A lot of attention has been centered on Europe. Now is the time, as we've discussed, to make sure that all of us join to do what's necessary to stabilize the world financial system, to avoid protectionism, to ensure that we are working hand-in-hand to both grow the economy and create jobs while taking a responsible approach long term and medium term towards our fiscal structures.
I think the election in Greece yesterday indicates a positive prospect for not only them forming a government, but also them working constructively with their international partners in order that they can continue on the path of reform, and do so in a way that also offers the prospects for the Greek people to succeed and prosper.
And we are going to be working under your leadership with our European partners and with all countries to make sure that we're contributing so that the economy grows, the situation stabilizes, confidence returns to the markets, and most importantly, we're giving our people the chance if they work hard to succeed and do well.
And from everything that we've seen your leadership on this summit I think will help us take one important step in a series of steps that are going to be required to continue to improve global economic prospects.
So I just want to thank you for all your leadership and your friendship. I want to thank all the members of your administration. I remember hosting one of these G20s and I know that as much work as it is for us, it's even more work for them. So we appreciate that very much.
PRESIDENT CALDERÓN: Thank you.
PRESIDENT OBAMA: Thank you, Mr. President.