[Gyeongju APEC] Foreign and Trade Ministers Recognize Importance of WTO... Not Mentioned in Summit Declaration

AMM Joint Statement Reached

The Asia-Pacific Economic Cooperation (APEC) Ministers of Foreign Affairs and Trade in Gyeongju adopted a joint statement on November 1, affirming the importance of the World Trade Organization (WTO). This reaffirmation of the WTO's value comes at a time when the global trade order has been under threat since the launch of the Trump administration in the United States. However, this content was not included in the so-called "Gyeongju Declaration," the summit statement.

Yeohangoo, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, is delivering the opening address at the Asia-Pacific Economic Cooperation (APEC) Joint Ministerial Meeting on Foreign Affairs and Trade held at Sono Calm Gyeongju on the 30th. 2025.10.30 Photo by Kang Jinhyung

According to the Ministry of Foreign Affairs, the foreign affairs and trade ministers of APEC's 21 member economies stated in the Joint Ministerial Statement of the APEC Ministerial Meeting (AMM), "We recognize the importance of the WTO in advancing trade issues," and added, "We acknowledge that the rules agreed upon at the WTO are fundamental to facilitating global trade."

However, the ministers also noted, "We recognize that the WTO faces multiple challenges and that meaningful, essential, and comprehensive reforms are needed to improve all of its functions so that it can respond more effectively and swiftly to today's realities." They further stated, "We welcome efforts to deepen discussions on current trade issues within the WTO." The statement also emphasized, "Building on APEC's role as an incubator of ideas, we will respond cooperatively and support members in working together to ensure the successful hosting of the 14th WTO Ministerial Conference (MC14) in 2026."

The AMM was held over two days, October 29 and 30, ahead of the summit. After failing to adopt a joint statement at the closing ceremony, negotiators initially aimed to reach an agreement by midnight on the 31st, but this deadline was also missed. According to the Ministry of Foreign Affairs, after several critical rounds of negotiations that continued into the early morning over the detailed wording, a working-level agreement was finally reached at around 7:30 a.m. on this day. As the adoption of the AMM Joint Statement and the Gyeongju Declaration is seen as a test of the host country's leadership, officials reportedly negotiated intensely until the very end.

The AMM Joint Statement finalized this time encompasses the major discussions and outcomes of the 14 sectoral ministerial meetings and high-level dialogues under APEC, in line with the 2025 APEC theme and priorities, "Towards a Sustainable Tomorrow: Connectivity, Innovation, Prosperity." In particular, it reflects concrete discussions aimed at implementing the vision and goals declared by the leaders.

In discussions on the global trade environment, the ministers recognized the importance of the WTO and agreed on the need for comprehensive reform. They also acknowledged that the WTO's moratorium on customs duties on electronic transmissions has played a positive role in the growth of the digital economy.

In the field of innovation, the ministers noted that rapid changes in digital technology present both opportunities for economic growth and potential risks. Accordingly, they emphasized the importance of capacity building and education to bridge the digital divide, agreeing that everyone should be able to benefit from digital transformation. They also expressed concern over the negative impact of increasing online scams in the region.

In the area of prosperity, the ministers confirmed cooperation in various sectors such as maritime affairs, food security, energy, small and medium-sized enterprises, and health, and highlighted the importance of inclusive growth. The members welcomed the "Sub-Fund on Prosperity of Future Generations," established under Korea's initiative, which will support APEC projects aimed at empowering the younger generation and expanding their economic participation.

The ministers concluded the statement by emphasizing, "We highly value APEC's continued cooperation under the spirit of consensus-based multilateralism." Next year, China will serve as the APEC chair, followed by Vietnam in 2027.