APEC Summit Concludes with AI and Demographic Agreements; China to Host 2025 Meeting

The Asia-Pacific Economic Cooperation summit agreed on declarations regarding AI and changing democraphics as it wrapped up on Saturday. The 2025 summit of theAsia-Pacific Economic Cooperation(APEC) forum adopted a joint leaders' declaration as it concluded inSouth Koreaon Saturday. Leaders assembled in Gyeongju also agreed on anArtificial IntelligenceInitiative and the APEC Framework for Cooperation on Population Structure Changes. Speaking at the summit's closing ceremony,Chinese President Xi Jinpingannounced thatChinawill host the annual APEC summit at the tech hub of Shenzhen next year in November. It will be the third time China has hosted the meeting. Xi said Shenzhen, often described as China's Silicon Valley, is "a miracle in the history of world development created by the Chinese people." He also proposed the establishment of a global organization to cooperation on artificial intelligence. In his speech, Xi noted that APEC is the most important platform for Asia-Pacific economic cooperation. The APEC region accounts for 50% of global trade and 61% of the world's gross domestic product. Speaking at the summit on Friday,Xi had called for protection of the multilateral trading system and deeper economic cooperation. More to come... Edited by: Dmytro Hubenko