APEC seals ‘Gyeongju Declaration’

GYEONGJU, SOUTH KOREA — Leaders of the 21 Asia-Pacific Economic Cooperation (APEC) economies wrapped up the two-day summit here with the adoption of the Gyeongju Declaration, a sweeping agreement that reaffirms the region’s commitment to inclusive growth, digital transformation, and sustainable cooperation amid rising global uncertainty.

The declaration, anchored on the theme “Building a Sustainable Tomorrow: Connect, Innovate, Prosper,” outlines a blueprint for how APEC economies intend to navigate the shifting trade dynamics, demographic changes, and the disruptive rise of artificial intelligence (AI).

After prolonged negotiations over the wording on trade and investment, an agreement was reached, with the final declaration affirming that all 21 members view strong trade and investment ties as essential to growth and prosperity while highlighting the need for an inclusive trade and investment environment.

In the declaration’s opening, leaders acknowledged that the region “stands at a pivotal juncture,” citing trade challenges and rapid technological shifts as forces reshaping economies. They emphasized that APEC remains the premier platform for regional economic cooperation and vowed to work toward realizing the Putrajaya Vision 2040 of a free, open, and resilient Asia-Pacific community.

“We acknowledge the importance of a trade and investment environment that promotes resilience and benefits for all. We note the various discussions on the current state and future of global trade and recognize the need for cooperation among economies in this regard,” the statement read.

“We will advance economic integration in the Asia-Pacific region in a manner that is market-driven, including through work on the Free Trade Area of the Asia-Pacific agenda,” the document said.

Connected, resilient Asia-Pacific

Under the “Connect” pillar, members pledged to deepen trade and investment cooperation through continued work on the Free Trade Area of the Asia-Pacific (FTAAP) agenda. The statement reaffirmed support for transparent trade practices, supply chain resilience, and initiatives that enable small and medium enterprises (MSMEs) to participate in cross-border trade.

The leaders also recognized the need for quality infrastructure, improved business mobility through digital systems such as the APEC Business Travel Card, and stronger anti-corruption measures to promote investor confidence.

A key highlight of the Gyeongju Declaration is the formal endorsement of the APEC Artificial Intelligence (AI) Initiative, marking a major step toward a coordinated regional approach to AI governance, ethics, and economic adoption.

The initiative calls on members to build “human-centered” AI ecosystems to ensure that digital transformation benefits all citizens, protects data integrity, and strengthens workforce readiness.

The leaders encouraged collaboration on AI-driven innovation while maintaining “trustworthiness and reliability” in emerging technologies.

The document also emphasized closing the digital divide by improving infrastructure and literacy across developing economies.

“We underscore the importance of bridging digital divides... and making the benefits of digital transformation accessible to all,” the declaration stated.

Sustainable prosperity

The APEC leaders reaffirmed their goal of ensuring that the benefits of growth reach all sectors of society. They endorsed the APEC Collaborative Framework for Demographic Changes, which aims to address the challenges of aging populations, declining birth rates, and labor market shifts across the region.

The declaration also focused on shared responses to climate change, the energy transition, and food security, calling for the diversification of power sources, modernization of electricity grids, and reductions in food waste and marine debris.

Health resilience was also prioritized, with leaders committing to strengthen digital health systems and to harness AI for improved diagnostics and access to care.

The declaration expressed appreciation to South Korea for hosting this year’s APEC meetings. It confirmed the People’s Republic of China as the next chair for 2026, followed by Vietnam in 2027, and Mexico in 2028.

The Gyeongju Declaration, according to the statement, symbolizes not only a consensus among member economies but also a renewed commitment to build an “open, dynamic, resilient, and peaceful Asia-Pacific community by 2040.”

Marcos woos Latin America

Meanwhile, President Ferdinand Marcos Jr. capped the final day of the APEC summit with a series of bilateral meetings and investment pitches aimed at strengthening trade, defense, and energy partnerships, as well as securing the Philippines’ first free trade pact in Latin America.

During a meeting with Chilean President Gabriel Boric, Marcos called for the swift conclusion of the Philippines-Chile Comprehensive Economic Partnership Agreement (CEPA), describing it as a “milestone” that would expand Philippine trade beyond the Asia-Pacific. Both sides agreed to finalize the deal before the yearend.

The CEPA would mark Manila’s first free trade agreement in Latin America.

The two leaders also reaffirmed their support for multilateralism through forums such as APEC and ASEAN amid increasing geopolitical tensions, ahead of the 80th anniversary of Philippines-Chile relations in 2026.

In separate sideline meetings, Marcos met with major South Korean conglomerates to boost economic and defense cooperation.

Shipbuilder Hanwha Ocean proposed supporting the Philippine Navy’s submarine program through the construction of a local base, maintenance hub, and advanced operator training systems. The firm also pledged technology transfers and partnerships with local industries.

The President also discussed energy development with DL Group, whose subsidiary DL E&C is partnering with Meralco on small modular reactor projects — compact nuclear plants that can generate clean power using less land and shorter construction times.

Electronics giant Samsung Electro-Mechanics Co. (SEMCO) presented a ₱50.7-billion expansion plan for its Calamba, Laguna operations — an investment expected to generate over 3,000 new high-tech jobs.

The deal was reinforced through a supplemental agreement between SEMCO and the Philippine Economic Zone Authority witnessed by Marcos.

The expansion, SEMCO executives said, aligns with the President’s push to transform the Philippines into a manufacturing and innovation hub for the global electronics and electric vehicle supply chain.

Korean President Lee Jae Myung formally handed over the APEC chairmanship to Chinese President Xi Jinping, who will host next year’s summit.