APEC leaders meet in S. Korea to deepen cooperation for sustainable future

GYEONGJU, South Korea, Oct. 31 (Xinhua) -- The 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting kicked off in Gyeongju, South Korea, on Friday, with leaders gathering to seek stronger economic cooperation and chart a shared path toward a sustainable future.

Chairing the meeting, South Korean President Lee Jae-myung called for greater cooperation and solidarity among the region to overcome new challenges as the world is at a major turning point.

As the free trade order undergoes dramatic changes, global economic uncertainty is deepening, and trade and investment are losing momentum, Lee noted.

The technological revolution represented by artificial intelligence presents an unprecedented crisis and at the same time an unprecedented opportunity, he said.

"We can join together for the ultimate goal of shared prosperity," Lee stressed.

The meeting came as rising uncertainty in the international economic environment, coupled with the resurgence of protectionism and unilateralism, is reshaping the traditional free-trade order.

Intensifying strategic competition among major economies and the restructuring of global supply chains have further complicated regional cooperation.

At the same time, APEC members face multiple structural challenges, from accelerating population aging and widening development gaps to uneven digital transformation and the rising costs of green transition.

Guided by the theme "Building a Sustainable Tomorrow," this year's APEC agenda aimed to advance regional connectivity, spur innovation-driven growth, and create a more resilient future for the Asia-Pacific.

In 2025, APEC members collectively account for over 60 percent of the world's total GDP. Economic growth in the APEC region is projected at 3.1 percent in 2025, slightly higher than earlier estimates, according to the latest APEC Regional Trends Analysis.

The upgraded forecast was supported by resilient trade and strong demand for high-tech goods. However, the report warned that growth could ease to 2.9 percent in 2026 as public debt rises and temporary drivers fade.

Established in 1989, APEC has become a dynamic engine of economic growth and one of the Asia Pacific's most important regional forums.