Seoul: World leaders convened at the Asia-Pacific Economic Cooperation (APEC) summit to explore strategies to enhance resilience and stimulate growth in the face of global trade uncertainties. President Lee Jae Myung emphasized the necessity for "cooperation and solidarity" among APEC member economies during the gathering.
According to Yonhap News Agency, the two-day summit has united leaders from 21 APEC member economies, guest nations, and representatives from international organizations. The discussions are primarily focused on sustaining free trade and advancing regional economic integration.
In the first session themed "Towards a More Connected Resilient Region and Beyond," Lee highlighted the significance of the APEC meeting amid a changing free trade landscape and growing global economic instability. He underscored that "cooperation and solidarity is the surest path for a better future," noting the pivotal moment as the international order undergoes rapid changes.
Chinese President Xi Jinping addressed the meeting, presenting five proposals for "building an inclusive open Asia-Pacific economy for all," as stated by the Chinese foreign ministry. He advocated for collaborative efforts to protect the multilateral trading system centered around the World Trade Organization (WTO), foster an open economic environment in the region, and ensure the stability and efficiency of industrial and supply chains.
The meeting proceeded without U.S. President Donald Trump, who had left the previous day after participating in a business forum and engaging in talks with Lee and Xi. The summit also included leaders from the 21 member economies, such as Japanese Prime Minister Sanae Takaichi, and representatives from various international organizations.