ANKARA

The Asia-Pacific Economic Cooperation (APEC) leaders’ summit began Friday in South Korea’s coastal city of Gyeongju, with the primary goal of promoting economic cooperation and growth amid ongoing global trade challenges.

The two-day summit, chaired by South Korean President Lee Jae Myung, is being attended by Chinese President Xi Jinping, Japanese Prime Minister Sanae Takaichi, Australian Prime Minister Anthony Albanese, Malaysian Prime Minister Anwar Ibrahim, Indonesian President Prabowo Subianto, and Philippine President Ferdinand Marcos Jr.

Other leaders from APEC member economies, including New Zealand Prime Minister Christopher Luxon, Vietnamese President Luong Cuong, and Canadian Prime Minister Mark Carney, are also attending the gathering.

President Lee also met for the first time with his Chinese counterpart Xi since assuming office in June this year.

US President Donald Trump is skipping the summit, as he departed South Korea on Thursday after attending a business forum and holding talks with Lee and Xi.

Marking South Korea’s first time hosting the APEC leaders’ meeting in two decades, President Lee said while addressing the opening session that Seoul aims to strengthen cooperation among member economies to achieve shared prosperity and sustainable development.

"Cooperation and solidarity is the surest path for a better future," Yonhap News Agency quoted him as saying

"We all stand at a critical turning point as the international order undergoes rapid transformation," he added.

This year’s agenda includes discussions on regional economic integration and trade cooperation.

South Korea aims to secure a consensus-based outcome through the proposed “Gyeongju Declaration,” highlighting its key priorities, including artificial intelligence (AI) and demographic challenges.

During the two summit sessions, leaders will review recommendations from APEC foreign and trade ministers on enhancing regional prosperity by strengthening supply chain cooperation, advancing digital transformation, and promoting inclusive growth across the Asia-Pacific region.

The South Korean government has deployed thousands of police officers as well as 3,900 military personnel to ensure tight security throughout the high-profile event.

China will not close its door for world

Speaking at the summit, President Xi reaffirmed China’s commitment to further opening up its economy for the wider world and urged member economies to jointly safeguard the multilateral trading system, practicing true multilateralism, according to Xinhua News Agency.

"China will not close the door to the outside world but will only open it still wider," he said.

He outlined a five-point proposal to advance a universally beneficial and inclusive economic globalization and build an Asia-Pacific community with a shared future.

He also called on APEC to jointly keep industrial and supply chains stable and smooth.