"Urgent Call to Action for Economic Growth from APEC"

APEC Summit: Economic Cooperation and Urgent Action Required

At the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Summit held in the historic city of Gyeongju, South Korea, APEC members made a joint call for strong economic growth. The published joint statement emphasized that trade and investments should progress for the benefit of everyone.

Transformative Technologies and Demographic Changes

The statement highlighted that transformative technologies, such as artificial intelligence, are reshaping international labor markets. APEC leaders expressed that collaboration and concrete actions are necessary for long-term economic growth. "We call for strengthened cooperation and concrete actions to enable economic growth that benefits everyone," it stated.

Inter-Economic Cooperation and Strengthening Trade

APEC leaders underscored the importance of strong trade and investments for the growth of the Asia-Pacific region. "The global trading system currently faces serious challenges; in this situation, we must deepen economic cooperation," they remarked. APEC will continue to adopt a market-based approach within the framework of the Asia-Pacific Free Trade Area (FTAAP).

Artificial Intelligence and Digital Transformation

The published statement mentioned that APEC members believe in the potential of artificial intelligence to transform the global economy. The APEC Artificial Intelligence Initiative was approved, emphasizing that this initiative will support a successful artificial intelligence transformation within APEC. "Digital transformation can increase productivity in the Asia-Pacific region," it stated.

Regulatory Barriers Need to Be Removed

The statement pointed out the importance of removing regulatory barriers for micro, small, and medium-sized enterprises (SMEs). "Steps must be taken to support entrepreneurship and strengthen supply chain networks, and opportunities that will enhance productivity should be provided," it said.

Unity to Tackle Global Challenges

It was noted that collaboration needs to be increased in areas such as energy, food security, and the environment. The statement emphasized that, considering the role of natural gas and liquefied natural gas (LNG) sources in sustainable energy supply, steps such as the modernization of electricity infrastructure are vital. It was stated that disruptions in food supply chains should be minimized.