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APEC Ministers Issue Joint Statement
APEC Ministerial MeetingAPEC ministers issued a joint statement following the conclusion of their meeting in Gyeongju, co-chaired by Cho Hyun, Minister of Foreign Affairs, and Yeo Han-Koo, Minister for Trade of the Republic of Korea.
Ministers reaffirmed their commitment to the Putrajaya Vision 2040 and underscored efforts to strengthen regional connectivity through promoting trade and investment, supply chain resilience, structural reform and people-to-people ties.
They recognized the importance of comprehensive reform of the World Trade Organization to improve its functions to be more relevant and responsive in light of today’s realities.
Ministers noted the benefits of digitalization to enhance and facilitate trade and welcome the establishment of the APEC Center of Excellence for Paper Less (ACCEPT) which aims to strengthen collaboration between the public and private sectors.
They also acknowledged the impact of demographic changes on younger generations and emphasize the importance of empowering and equipping them with the necessary tools to build a resilient and prosperous future.
Read the 2025 APEC Ministerial Meeting Joint Statement
Also read the Chair’s Statement on the 2025 APEC Ministerial Meeting
APEC Leaders Issue Gyeongju Declaration
APEC Economic Leaders’ Meeting
The leaders of the 21 APEC member economies issued the Gyeongju Declaration following the concluding of the 2025 APEC Economic Leaders’ Meeting, chaired by President Lee Jae Myung of the Republic of Korea.
The declaration reaffirmed leaders’ long-standing commitment to strengthened cooperation and concrete actions to enable economic growth than benefits all, recognizing the rapid advancement of artificial intelligence (AI) and demographic shifts that are reshaping labor markets and carrying profound and long-term implications for APEC member economies.
Acknowledging that the Asia-Pacific stands at a pivotal juncture and that the global trading system continues to face significant challenges, APEC Leaders are committed to take actions guided by the following:
- Building the world’s most dynamic and interconnected regional economy
- Preparing the region for the digital and AI transformation
- Addressing challenges together and sharing the benefits of growth for all
Leaders also endorsed the APEC AI Initiative to advance successful AI transformation within APEC and build AI capacities at all levels, as well as the APEC Collaborative Framework for Demographic Changes, to maximize economic growth and prosperity for all in the Asia-Pacific region.
Leaders will meet again in 2026 when the People’s Republic of China chairs APEC and hosts the APEC Economic Leaders’ Meeting. Leaders also look forward to upcoming APEC host years of Viet Nam (2027), Mexico (2028), Singapore (2030), Japan (2031), Chile (2032), Papua New Guinea (2033) and Peru (2034).
View the 2025 APEC Leaders’ Gyeongju Declaration
Also view the APEC AI Initiative and the APEC Collaborative Framework for Demographic Changes
President Lee Calls for Unity and Innovation as APEC Leaders Meet in Gyeongju
Issued by the APEC Economic Leaders’ Meeting
Amid profound shifts in the global economy and geopolitical landscape, economic leaders from the 21 APEC member economies convene on Friday in Gyeongju, to chart a collective path toward a more connected, innovative and prosperous Asia-Pacific.
Chaired by the President of the Republic of Korea, Lee Jae Myung, the 2025 APEC Economic Leaders’ Meeting marks a pivotal moment as economies navigate rapid technological transformation and mounting global uncertainty.
“The free trade system is experiencing strong turbulence, global economic uncertainty is deepening, and momentum for trade and investment is weakening,” President Lee said. “The technological revolution represented by artificial intelligence brings both unprecedented challenges and unprecedented opportunities.”
In his opening remarks, President Lee highlighted Korea’s long-standing contribution to APEC’s journey. He noted that throughout APEC’s history, the Republic of Korea has played an active role in advancing multilateral cooperation and regional growth.
“Whenever APEC has achieved major milestones and set an example for multilateral cooperation, the Republic of Korea has been at the forefront of that journey,” he said, citing Korea’s contributions to the 1991 Seoul Declaration and the 2005 Busan Roadmap.
President Lee emphasized that APEC’s success story is a testament to the power of openness and cooperation across the Asia-Pacific. “Since APEC’s founding, the combined GDP of its members has grown fivefold, and trade volume has increased tenfold,” he said. “The more we connected and opened to one another, the further APEC members advanced on the path to shared prosperity.”
President Lee underscored that despite current global headwinds, APEC remains a vital platform for dialogue, trust and collective progress.
“The path ahead is not simple, but I believe that within APEC’s history we can find the answers to overcome today’s difficulties,” President Lee said. “Cooperation and solidarity are the surest way forward toward a better future.”
The 2025 APEC Economic Leaders’ Meeting is being held under the theme “Building a Sustainable Tomorrow : Connect, Innovate, Prosper” reflecting the forum’s commitment to realizing the Putrajaya Vision 2040 and ensuring that technological and demographic transitions translate into inclusive growth.
President Lee also invoked the Hwabaek spirit, a centuries-old Silla tradition of consensus and dialogue as a model for APEC’s ongoing deliberations.
“The Hwabaek spirit does not demand uniform thinking. It seeks harmony and progress by bringing together diverse voices to create a symphony of ideas,” he said. “Here in Gyeongju, an ancient city that prospered through harmony and unity, I hope we will find the inspiration and courage to leap together into the future.”
The two-day meeting continues through Saturday, with discussions expected to center on trade and investment, AI and digital cooperation, demographic changes and strategies for building a future-ready Asia-Pacific.
Bio-Circular-Green Economy Prize Honors Climate Trailblazers
Issued by the APEC SecretariatReaffirming Asia-Pacific’s commitment to sustainability under the Bangkok Goals, APEC named three climate trailblazers for the Bio-Circular-Green Economy (BCG) Award.
Announced at the Annual Ministerial Meeting in Gyeongju, the recognition reflects the region’s shared goal to embed sustainability at the core of future growth and prosperity.
From coastal communities to factory floors, this year’s awardees are redefining what growth can mean, proving that environmental responsibility and economic progress can move hand in hand.
From China, Wang Jianli, co-founder of Blue Circle Technology, leads one of the region’s most impactful marine waste management enterprises, transforming ocean waste into valuable resources through technology.
“My love for the ocean inspired me to co-founded Blue Circle Technology. We focus on transforming marine waste into valuable resources through technology. What I’m most proud of is how our work has changed lives, especially for women and elderly people who once picked up trash out of poverty. Now, they’re picking up hope,” Wang said.
Representing Viet Nam, Trần Nhân Kiệt, founder of BINKS – Botanical Inks, applies artificial intelligence and biotechnology to transform discarded fruits and vegetables into safe, high-performance inks and paints.
“Viet Nam discards more than seven million tons of vegetables every year. Instead of letting that become waste, we upcycle it into inks that dry faster, last longer and are completely safe for children and educators,” said Trần. “We want every child, every school and every creative community in the Asia-Pacific to have access to safe, sustainable and inspiring art materials.”
From Singapore, Emmanual Tay, CEO and co-founder of Circular Unite, builds on his family’s three generations of recycling to integrate artificial intelligence, IoT and data analytics into waste management systems.
“Like many MSMEs driving sustainability transitions, Circular Unite faces challenges, but they also drive our innovation and collaboration. By tackling them head-on, we aim to accelerate industry transformation and create long-term cultural change in waste and recycling across the Asia-Pacific,” said Tay.
The 2025 BCG Award winners illustrate how sustainability is moving from principle to practice across APEC economies, creating industries, jobs, and investment that anchor a more sustainable future.
“The BCG Award underscores member economies’ shared commitment to translating the Bangkok Goals into tangible progress. Under Korea’s host leadership, the recognition reflects how economies are integrating sustainability into growth models and fostering innovation that delivers both environmental and social value.” said Eduardo Pedrosa, Executive Director of the APEC Secretariat
Meet the winners of the 2025 APEC BCG Award
Rebuilding Trust and Confidence: Strengthening Resilience, Revitalizing Growth in APEC By Rhea Crisologo Hernando, Glacer Niño A. Vasquez and Carlos Kuriyama The latest APEC Regional Trends Analysis (ARTA) reveals that growth is expected to remain strong through 2025, buoyed by frontloaded trade and high-tech goods demand. However, momentum is set to moderate in 2026 as fiscal conditions tighten and policy uncertainty lingers. Resilient Growth, New Trade Realities APEC’s economy has shown continued resilience in 2025. Growth forecasts have been revised upward, with GDP now expected to expand by 3.1 percent in 2025, slightly higher than the 3.0 percent projection in the August’s edition of ARTA. However, this momentum may be short-lived. The latest analysis points to a softer 2.9 percent growth in 2026, as temporary drivers such as frontloaded trade and inventory buildup subside. Robust demand for metals and high-tech components has helped sustain APEC’s growth through the year, offsetting the drag from policy frictions and external headwinds. Supply chains are still in flux, with economies racing to diversify production and reduce exposure to geopolitical risk. But these shifts come at a cost of slower productivity growth, elevated debt levels and weaker external demand – all of which threaten to slow the region’s medium-term momentum. Easing Inflation, Room for Policy Support With price pressures subsiding, many central banks have opted to maintain a cautiously accommodative monetary stance, keeping rates low enough to support growth while preserving enough room to maneuver should inflationary risks resurface. The slower pace of disinflation underscores a delicate balancing act in which policymakers help sustain demand without reigniting price pressures in a still-fragile recovery. However, much of this expansion in trade stems from precautionary activity as firms accelerated shipment and built up inventories in anticipation of possible new trade restrictions. As these temporary drivers fade, trade growth in APEC is expected to moderate significantly in 2026, with the volume of goods exports projected to slow to around 1.1 percent. While economies continue to promote trade facilitation and deepen regional economic integration, rising trade-restrictive measures and trade remedies point to a more sensitive, cautious and fragmented global trade environment. These developments present both opportunity and exposure. Strong demand from high-tech industries is supporting near-term growth, but the region remains vulnerable to supply bottlenecks, trade policy uncertainty, price swings and intensifying global competition. The challenge for policymakers lies in turning this cyclical momentum into sustainable, innovation-driven growth amid evolving global dynamics. Rising public debt remains a pressing concern across the APEC region. General government gross debt is projected to exceed 110 percent of GDP by 2026, reflecting lingering fiscal costs from pandemic-era support measures and slower revenue recovery. These debt projections mark an upward revision from the previous ARTA estimates. Governments now face the difficult task of sustaining growth and prioritizing social initiatives while rebuilding fiscal buffers to respond to future shocks. Elevated debt burdens are limiting resources for long-term investments in infrastructure, human capital and climate adaptation. At the same time, aging population and a shrinking labor force are squeezing revenues while driving up spending in health, pensions and social services. These compounding pressures highlight the need for fiscal reforms, particularly credible fiscal frameworks, and more efficient spending that could adequately support growth and counter shocks.
With uncertainty still high, APEC economies must navigate a delicate path toward preserving near-term stability and advancing long-term reforms that rebuild confidence and strengthen resilience. Three key policy priorities can steer this process forward: Sound Economic Policies: Strengthen macroeconomic fundamentals and policy credibility through transparent, well-communicated monetary frameworks. Improving public spending efficiency, adopting smarter budgeting and gradually rebuilding fiscal buffers will help restore confidence and policy space. Transformative Structural Reforms: Enhance productivity through innovation, labor and digital reforms that harness artificial intelligence and accelerate technology adoption. Strengthening human capital, promoting business innovation and closing digital divides will ensure technological progress translates into sustainable growth that benefits all. Adaptive Regional Cooperation: Leverage APEC’s platform to deepen policy coordination, promote predictable trade and investment frameworks, and solidify multilateral cooperation. Consistent dialogue and shared goals can help mitigate trade policy uncertainty and reinforce long-term stability. In a world of shifting trade dynamics and evolving technologies, cooperation and predictability are vital anchors. This is where APEC proves its value as an important platform that fosters trust through transparency, evidence-based policymaking and collective action, transforming dialogue into concrete outcomes that enhance resilience and sustain growth across the region. Looking ahead to 2026, implementing smart fiscal policy, harnessing technologies and bolstering cooperation will be critical to restoring confidence and revitalizing growth in an increasingly complex global environment. Through continuous engagement and shared commitment, policy dialogues that rebuild trust can help shape a more predictable future for the region.
Rhea Crisologo Hernando is analyst, Glacer Niño A. Vasquez is researcher, and Carlos Kuriyama is director at the APEC Policy Support Unit.
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This news release can also be viewed on the APEC website: https://www.apec.org/press/
