Gyeongju: The Asia-Pacific Economic Cooperation (APEC) leaders' summit began in South Korea's coastal city of Gyeongju, aiming to bolster economic cooperation amid ongoing global trade challenges. The two-day summit, chaired by South Korean President Lee Jae Myung, sees participation from key figures such as Chinese President Xi Jinping, Japanese Prime Minister Sanae Takaichi, Australian Prime Minister Anthony Albanese, and other prominent leaders from APEC member economies.

According to Philippines News Agency, President Lee, addressing the opening session, emphasized Seoul's goal to enhance cooperation among member economies for shared prosperity and sustainable development. He highlighted the importance of cooperation and solidarity as essential paths toward a better future amidst rapid transformations in the international order.

The summit marks South Korea's first time hosting the APEC leaders' meeting in two decades. This year's agenda includes discussions on regional economic integration and trade cooperation, with South Korea pushing for a consensus-based 'Gyeongju Declaration' focused on priorities like artificial intelligence (AI) and demographic challenges.

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. To ensure security throughout the event, the South Korean government has deployed thousands of police officers and 3,900 military personnel.

President Xi, speaking at the summit, reaffirmed China's commitment to opening its economy further and urged member economies to safeguard the multilateral trading system. He emphasized that China will keep its doors open to the world and outlined a five-point proposal for advancing inclusive economic globalization and maintaining stable supply chains.