APEC Summit 2025: Asia-Pacific Leaders Gather in South Korea Amid Global Trade Tensions

The APEC forum has been responsible for generating 70% of global economic growth during its initial decade of operation.

Seoul:

This week, leaders representing 21 Pacific Rim economies will convene in Gyeongju, South Korea, for the Asia-Pacific Economic Cooperation (APEC) forum.

The meetings commenced on Monday and will continue through Saturday, though discussions are anticipated to be dominated by US President Donald Trump's comprehensive global tariffs and critical trade confrontations with China and other nations.

Trump is scheduled to arrive Wednesday but plans to depart before the actual APEC leaders' summit begins. He is expected to meet with Chinese President Xi Jinping for their first face-to-face encounter since Trump began his second term, as both countries attempt to reduce trade tensions.

Key facts about the APEC meeting include:

- Founded in 1989, APEC consists of 21 members representing over 50% of global GDP and encompassing approximately 2.7 billion people, equivalent to 40% of the world's population. Among its largest members are China, Russia, and the United States. The APEC region contributed 70% of the world's economic growth during its first decade of existence.

- The leaders of member countries meet annually, with the previous gathering taking place in November 2024 in Peru. That meeting was primarily focused on concerns regarding the incoming Trump administration's promises to implement tariffs and reverse positions on issues such as climate change.

- This economic association aims to foster cooperation and reduce barriers to trade and investment, although decisions made during meetings are non-binding, and reaching consensus has become increasingly challenging. South Korea intends to utilize this year's forum to address supply chains, the World Trade Organization's role in promoting a free and fair trading environment, and advancing the Free Trade Area of the Asia-Pacific, an agreement designed to eventually include all APEC members.

- Additional agenda items include adapting to digital transformation, leveraging artificial intelligence, sustainable energy solutions, food security, responding to demographic changes, and enhancing opportunities for women and individuals with disabilities.

- South Korea is hosting state visits for both Trump and Xi and hopes to make progress on a trade agreement with the United States. President Lee Jae Myung has suggested that Trump use the visit to engage with North Korean leader Kim Jong Un, though it remains uncertain whether such a meeting will occur.