Obama arrives in Beijing for APEC summit

BEIJING, Nov. 10 (UPI) -- U.S. President Barack Obama arrived Monday in Beijing for the Asia-Pacific Economic Cooperation summit, where he reiterated that "America remains entirely committed when it comes to Asia."

In his address to the APEC summit on Monday, Obama said "The United States welcomes the rise of a prosperous, peaceful and stable China."

"China is our fastest growing export market. Chinese direct investment in the United States has risen six-fold over the past five years. Chinese firms directly employ a rapidly growing number of Americans. And all these things mean jobs for the American people; and deepening these ties will mean more jobs and opportunity for both of our peoples."

In order to further promote tourism and business between the two countries, Obama announced an agreement made with China to extend the length of student, tourist and business visas. Student and exchange visas will be extended from one year to five years, and business and tourist visas to 10 years.

Obama advocated further cooperation between the U.S. and Asian countries, asserting "We can always do more to reduce barriers to trade and economic growth." He hailed the proposed Trans-Pacific Partnership, a partnership that would join the the U.S. with 11 other nations, as "the model for trade in the 21st century."

"And as long as I'm America's President, I'm going to be invested in your success because I believe it is essential to our success as well," the president concluded.

Obama's appearance at the APEC conference is part of a larger Asia outreach trip that will include the East Asia Summit and the G-20 in Australia.