HispanicBusiness

U.S. President Barack Obama on Thursday spoke over phone with his Chilean counterpart Sebastian Pinera on the free trade agreement called the Trans-Pacific Partnership, said the White House.

The two leaders discussed ways to strengthen the global economy through job creation and expanded trade, including by "moving together expeditiously on the Trans-Pacific Partnership," the White House said in a statement.

In addition, Obama reaffirmed the importance of the two countries' partnership and said he looked forward to working with Pinera to enhance bilateral cooperation, the statement said.

The Tans-Pacific Partnership (TPP), a comprehensive but controversial free trade agreement with stringent standards, is aimed at further liberalizing the economies in the Asia-Pacific region. The United States sees TPP as the standards for the new century and acts as a main advocate.

The ongoing TPP negotiations involve countries including Singapore, Brunei, Chile, New Zealand, the United States, Australia, Peru, Vietnam, Malaysia, Mexico and Canada.