Anchor: The two-day Asia-Pacific Economic Cooperation(APEC) summit in Gyeongju has concluded with the adoption of the Gyeongju Declaration, which covers key agenda items ranging from trade and investment to digital innovation and inclusive growth. While the APEC leaders reaffirmed their commitment to the original aims of APEC, they downplayed the issue of free trade at a time of heightened trade protectionism and intensifying rivalry between the U.S. and China. After the multilateral gathering in the ancient Silla capital, President Lee Jae Myung held a news conference to introduce the joint vision.
Kim Bum-soo has more on the outcome of this year’s APEC summit.

Report: The leaders of 21 Asia-Pacific economies have adopted the APEC Artificial Intelligence Initiative, pledging to work together to adopt the emerging technology.

Wrapping up this year’s APEC summit in South Korea’s southeastern city of Gyeongju on Saturday, President Lee Jae Myung introduced the joint vision at a news conference.

[Sound bite: President Lee Jae Myung (Korean-English)]
“[The APEC AI Initiative] contains various policy directions to ensure that all members in the region participate in the AI ​​transition and share in its benefits. In particular, it emphasizes economic growth through innovation, fostering collaboration among stakeholders — the private sector, government, academia and others — and investing in AI infrastructure. This is the first joint vision for AI in APEC history.” 

The APEC leaders also reaffirmed their commitment to the original aims of APEC, with the Gyeongju Declaration encapsulating their discussions on areas such as trade and investment, digital innovation, and inclusive growth. 

Amid the protectionist trade policies being pushed by the Trump administration, however, the Gyeongju Declaration omitted any direct expression of support for the WTO regime and multilateralism, unlike previous summit declarations.

[Sound bite: President Lee Jae Myung (Korean-English)]
“[The Gyeongju Declaration] includes APEC’s mid- to long-term future blueprint for an open, dynamic and peaceful Asia-Pacific community. It also embodies the members’ commitment to realizing Putrajaya Vision 2040. It also includes a commitment to cooperation among members for the recovery and growth of the Asia-Pacific region.”

Wearing turquoise scarves inspired by Korea’s traditional attire, hanbok, the leaders stood side by side for the annual photo session to close this year’s APEC gathering. 

Next year’s APEC summit will take place in the southern Chinese tech hub of Shenzhen. 

During the last APEC session, Chinese President Xi Jinping said economic globalization has encountered a setback and APEC’s function has become more prominent.

[Sound bite: Chinese President Xi Jinping (Mandarin-English)]
“In recent years, as economic globalization has moved backward, the role of APEC has become increasingly prominent. Building an Asia-Pacific community is the only way to achieve long-term development and prosperity in the region, and it is also our shared vision. China is willing to seize the opportunity of hosting next year’s event to work with all parties in building an Asia-Pacific community.”

Founded in 1989 to promote open exchange and regional economic integration, the 21-member APEC bloc accounts for approximately 60 percent of the world’s trade.
Kim Bum-soo, KBS World Radio News.