President Lee Jae Myung on Oct. 31 speaks at the first session of the Asia-Pacific Economic Cooperation Economic Leaders' Meeting at Gyeongju Hwabaek International Convention Center in Gyeongju, Gyeongsangbuk-do Province. (Yonhap News)

By Koh Hyunjeong

The Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting on Oct. 31 kicked off at Gyeongju Hwabaek International Convention Center in Gyeongju, Gyeongsangbuk-do Province.

Anticipation is rising over whether the 21 APEC member states will produce the so-called Gyeongju Declaration, which supports free trade amid the worldwide expansion of protectionism.

Held under the theme "Building a Sustainable Tomorrow: Connect, Innovate, Prosper," the summit ends on Nov. 1.

President Lee that day visited the opening ceremony as the head of state of the APEC chair country, greeted the visiting leaders and delegates of each country, and chaired the first session under the theme "Towards a More Connected, Resilient Region and Beyond." They discussed trade cooperation and expansion of mutual investment.

Those attending included the heads of APEC economies like Chinese President Xi Jinping and Japanese Prime Minister Sanae Takaichi. United Arab Emirates leader Mohamed bin Zayed Al Nahyan and International Monetary Fund Managing Director Kristalina Georgieva also attended.

The second day on Nov. 1 will see discussions under the theme of "Asia-Pacific Vision Prepared for Future Changes" on finding new growth engines such as artificial intelligence and demographic shifts.

The summit will conclude with a joint declaration and the handoff of the APEC chairmanship to China, which hosts next year's summit.

On if the phrase "support for free trade" will be included in the Gyeongju Declaration as a summit result, Minister of Foreign Affairs Cho Hyun on Oct. 30 said, "Many members are still holding last-minute negotiations but the adoption of a summit declaration is very close."

hjkoh@korea.kr