The 2025 summit of the Asia-Pacific Economic Cooperation (APEC) forum adopted a joint leaders' declaration as it concluded in South Korea on Saturday.

Leaders assembled in Gyeongju also agreed on an Artificial Intelligence Initiative and the APEC Framework for Cooperation on Population Structure Changes.

APEC member countries adopted a statement acknowledging the importance of a trade environment that promotes resilience and benefits for all.

The host, South Korea, said the United States has the most important role in Seoul's relations with neighboring North Korea.

South Korean President Lee Jae Myung said he hoped to help US President Donald Trump play "peacemaker" on the Korean Peninsula, but he also urged China and Russia to play a part.

China to host next APEC summit

Speaking at the summit's closing ceremony, Chinese President Xi Jinping announced that China will 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 cooperate on artificial intelligence.

In his speech, Xi noted that APEC is the most important platform for economic cooperation in the Asia-Pacific region.

The APEC region accounts for 50% of global trade and 61% of the world's total economic output.

Speaking at the summit on Friday, Xi had called for protection of the multilateral trading system and deeper economic cooperation.

Edited by: Dmytro Hubenko