Obama claims lion's share of Boeing deal credit

President Barack Obama Friday seized on Boeing's biggest-ever deal for commercial jets as a multi-billion dollar vindication of his bid to mine booming Asia for American jobs. Obama officiated as the US aviation giant signed a deal to build at least 230 medium-range 737s worth $21.7 billion for Lion Air, a regional carrier based in Indonesia, where he is attending an East Asia summit. "This is an example of a win-win situation where the people of the region are going to be able to benefit from an outstanding airline," Obama said, cementing a new link to a country that was once his boyhood home. "And our workers back home are going to be able to have job security and be able to produce an outstanding product made in America."  The deal, which will unfold over many years, will support 110,000 jobs in 43 US states, the White House said. But it was unclear whether it would actually produce any of the new jobs desperately needed by the struggling US economy. Obama's current Pacific tour has made headlines in Asia for the way he has challenged China over its currency and trade practices and demanded that Beijing lives up to the international "rules of the road". But Boeing's coup provided Obama with powerful political ammunition to bolster the case his administration is making back home, that he is on a mission to claw jobs from a low-wage region that has decimated US manufacturing. Obama said his administration, which has been pummelled by Republicans over its meagre record of creating jobs amid 9.0 percent unemployment, and the US Export-Import bank, were "critical to facilitating this deal." "This is an example of how we are going to achieve the long-term goal that I set of doubling US exports over the next several years," he said. Though Obama hailed Lion Air as an outstanding airline, Indonesia's largest private carrier remains banned by the European Union over safety violations, unlike the country's flag carrier Garuda which escaped the blacklist in 2009. The Boeing announcement does however reflect the soaring potential of the industry in Asia, where growth rates far outpace the anaemic attempts by debt-laden economies in Europe and the United States to escape crisis. Boeing spokesman Wilson Chow said the regional aviation market was booming. "According to our outlook, Asia-Pacific is one of our fastest growing markets .... We're expecting a seven percent growth of traffic per year for the next 20 years," he told AFP. He declined to give a timeframe for delivery of the aircraft, but noted that the 737 MAX, one of the models including in the sale along with 737-900ER planes, will only be ready for delivery in 2017. With the US economy needing to create around 260,000 jobs a month to substantially bring down the unemployment rate, it was unlikely the Boeing deal will dent jobless lines that are clouding Obama's 2012 reelection hopes. Obama pressed ahead with his regional engagement Friday ahead of the East Asia summit, meeting Philippine President Benigno Aquino and Indian Prime Minister Manmohan Singh. A meeting was planned Saturday with new Thai Prime Minister Yingluck Shinawatra. While Washington has multiple security concerns in such talks, including territorial spats in the South China Sea, aides say Obama also uses the talks to push for economic and trade tie-ups. At the Asia Pacific Economic Cooperation (APEC) summit last week, Obama highlighted the push towards a new Trans-Pacific Partnership trade pact, which would lower tariffs and better integrate regional economies. "I want to emphasise that the Asia-Pacific region is absolutely critical to America's economic growth," Obama said in Hawaii. US officials also highlighted some other deals by US firms with Asia, some already announced, including the sale of eight Boeing 777-300ER jets to Singapore Airlines worth $2.4 billion. Indonesia's Garuda Airlines meanwhile has signed a contract to buy 50 CFM56 General Electric engines worth $1.3 billion, the White House said. And Sikorsky will sell Brunei 12 Blackhawk S-70i helicopters worth $325 million, the White House said, adding that the total value of all the deals was $25 billion.