APEC Leaders Conclude Summit in Gyeongju, Emphasize Economic Cooperation Amid Global Challenges

Leaders from 21 Asia-Pacific economies concluded the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, emphasizing the need for enhanced regional cooperation to address global economic challenges. The summit's joint statement acknowledged the significant challenges facing the global trading system and reaffirmed the leaders' shared recognition that robust trade and investment are vital to the growth and prosperity of the Asia-Pacific region.

The meeting followed a bilateral discussion between U.S. President Donald Trump and Chinese President Xi Jinping, where both leaders agreed to de-escalate trade tensions. President Xi, addressing the summit, pledged China's support for global free trade and supply chain stability, positioning the country as a proponent of multilateral cooperation.

South Korean President Lee Jae Myung highlighted the critical juncture of the global trade order, stressing the importance of collaboration among APEC members to combat rising economic uncertainty and declining trade momentum.

The summit also addressed the impacts of artificial intelligence, demographic shifts, and the importance of cultural industries. APEC's commitment to long-term economic goals under the Putrajaya Vision 2040 was reiterated, even as the region grapples with U.S.-China rivalry and shifting global dynamics.