A pact is being drawn up between leaders of nations in the Asia-Pacific region that is expected to generate new jobs.

Steps towards the agreement were forged during two days of meetings in Japan held by officials, according to the Wall Street Journal.

The regional liberalization pact is intended to boost employment generation and economic growth in the region by enabling free trade movement and a strategy has now been outlined by politicians.

During the Asia-Pacific Economic Cooperation forum summit, a consensus was reached by delegates representing 21 nations regarding economic co-operation and a statement called Yokohama Vision was unveiled at the end of the event.

Naoto Kan, Japan's prime minister, stated: "To achieve liberalization in trade and investment, we will strive to pursue a more advanced form of economic integration and create a closely knit community in the region."

In the statement issued at the end of the summit, the Asia-Pacific leaders said the human resource and entrepreneurship development agenda will include plans to "create more and better jobs", as well as boosting equal opportunities, education and training provision and social security.

Posted by Sarah Dixon