The 2025 APEC Economic Leaders' Meeting officially opened on October 31 in Gyeongju, South Korea, providing momentum to drive economic growth amid unilateral actions and trade barriers. Leaders from 21 member economies convened to discuss free trade and regional integration. US President Donald Trump chose not to attend, despite participating in the APEC business forum earlier.
The 2025 APEC Summit runs from October 31 to November 1 in Gyeongju, bringing together leaders from 21 APEC member economies, guest countries, and international organization representatives. The opening featured a welcome address by South Korean President Lee Jae-myung, followed by the first session titled "Towards a More Connected and Resilient Region".
According to the South Korean presidential office, leaders will discuss efforts to make the Asia-Pacific region more open, dynamic, and resilient. "President Lee will bridge leaders to achieve consensus on the need for closer cooperation. We aim to restore the region's commitment to collaboration and explore concrete steps so APEC remains a key economic forum in the region," the office stated.
As host, South Korea proposed the "Gyeongju Declaration" along with initiatives on artificial intelligence (AI) and demographic changes. The agenda covers enhancing supply chain cooperation and digital transition to create a more prosperous region.
Attending leaders include Chinese President Xi Jinping and Japanese Prime Minister Sanae Takaichi. Meanwhile, US President Trump met President Lee and Xi Jinping at the business forum but decided not to join the summit.
South Korean Foreign Minister Cho Hyun said agreement on a joint declaration is nearing after the ministerial meeting on October 30. "We hope the document can be endorsed on Saturday during the leaders' retreat session," he said. Trade Minister Yeo Han-koo added that basic agreements have been reached on supply chains, digital, and environment aspects. "We will continue to uphold WTO-based multilateralism. However, when the WTO system is at stake, we also support plurilateral cooperation," he stated.
In recent years, APEC declarations from 2021 to 2024 have supported a rules-based multilateral trading system with the WTO at its core, requiring unanimous agreement from all members.