Senior APEC Officials Work to Bridge Trade Differences Ahead of Leaders’ Summit

Gyeongju — Senior officials from Asia-Pacific Economic Cooperation (APEC) member economies are striving to reach consensus on trade liberalisation, digital cooperation, and regional growth initiatives as they move toward finalising a road map ahead of this week’s leaders’ summit.

The Concluding Senior Officials’ Meeting (CSOM) concluded its two-day session on Tuesday, focusing on advancing APEC’s agenda for sustainable growth and regional collaboration, according to the organising committee.

The meeting’s recommendations will be submitted to the ministerial meeting on Wednesday, before being finalised during the leaders’ summit, scheduled for Friday and Saturday, Yonhap News Agency reported.

As this year’s APEC chair, South Korea aims to foster consensus among member economies on a joint declaration addressing trade, digital transformation, and inclusive growth, under the theme “Building a Sustainable Tomorrow: Connect, Innovate, Prosper.”

Seoul is also prioritising artificial intelligence (AI) cooperation and responses to demographic shifts as part of broader efforts to strengthen regional ties and economic resilience.

A major challenge, however, lies in achieving agreement on the language related to free trade, as member economies hold differing positions amid the rising global protectionist trend.

Traditionally, APEC leaders’ declarations have reaffirmed support for free and open trade rooted in the World Trade Organization (WTO) framework and a rules-based multilateral trading system. Between 2021 and 2024, all summit declarations reiterated this commitment, a phrase first introduced in 2021 after the end of former U.S. President Donald Trump’s first term.

Because APEC operates by consensus, a leaders’ declaration can only be adopted with unanimous support from all member economies.

“The CSOM officials reaffirmed their collective commitment to concluding discussions on the wording of the final summit document to achieve meaningful results,” the South Korean Foreign Ministry said in a statement.

Beyond trade, delegates are also discussing a new APEC road map designed to enhance regulatory preparedness and institutional capacity across finance, digital platforms, and the creative economy.

Other key topics include food and energy security, as well as social protection policies aimed at ensuring long-term stability amid growing climate and geopolitical risks.

With inputs from IANS