APEC leaders adopt joint declaration on deepening cooperation

GYEONGJU, South Korea -?Leaders of the Asia-Pacific Economic Cooperation (APEC) on Saturday adopted a joint declaration on deepening cooperation for a sustainable future as they concluded a two-day meeting.

As the world stands at a pivotal juncture, the global trading system continues to face significant challenges, while the rapid advancement of transformative technologies and demographic shifts carry profound and long-term implications for APEC member economies, the Gyeongju Declaration noted.

The declaration called for strengthened cooperation and concrete actions to enable economic growth that benefits all.

Reaffirming the shared recognition that robust trade and investment are vital, the document pledged to remain committed to deepening economic cooperation to navigate the evolving global environment.

They vowed to support efforts to ensure resilient supply chains, as an integral part of global value chains, across the Asia-Pacific region, including through greater engagement of the private sector in APEC's relevant discussions.

The leaders also adopted the APEC AI Initiative as a joint step toward advancing successful AI transformation within APEC, building AI capacities at all levels, including through regional cooperation, and cultivating an investment ecosystem for resilient AI infrastructure.

As part of efforts to jointly respond to the long-term impacts of declining birth rates, aging populations, and rapid urbanization, the leaders adopted a new framework -- the APEC Collaborative Framework for Demographic Changes -- aimed at tackling the region's mounting demographic challenges.

The leaders said the framework reflects their shared commitment to developing holistic and intergenerational policies that can unlock new opportunities for growth and prosperity across the Asia-Pacific.

Acknowledging that the region's future prosperity depends on empowering the next generation, the statement emphasized the importance of providing young people with the tools and opportunities to shape their own futures.

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.

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