The 2025 summit of the Asia-Pacific Economic Cooperation (APEC) Forum adopted a Joint Leaders’ Declaration as it concluded in South Korea on Saturday.
The leaders gathered in Gyeongju also agreed on an APEC framework for cooperation on artificial intelligence initiatives and population structure change.
China to host the next APEC summit
Speaking at the summit’s closing ceremony, Chinese President Xi Jinping announced that China will host the annual APEC summit in the technological hub of Shenzhen in November next year.
This will be the third time that China has hosted the meeting. Xi said Shenzhen, often described as China’s Silicon Valley, is “a miracle in the history of world development created by the Chinese people.”
He also proposed the establishment of a global organization for cooperation on artificial intelligence.
In his speech, Xi said that APEC is the most important forum for Asia-Pacific economic cooperation.
The APEC region accounts for 50% of global trade and 61% of world GDP.
Speaking at the summit on Friday, Xi called for the security of the multilateral trading system and deeper economic cooperation.
more to come…
Edited by: Dmytro Lyubenko