President Moon Jae-in started his three-day schedule of diplomacy with the APEC summit on Friday.
The members are determined to create a resilient future of shared prosperity.
Hong Yoo has the highlights from that session.
APEC laid out a blueprint for its future on Friday called the APEC Putrajaya Vision 2040.
The vision aims to establish free and fair trade and investment from which all member states can benefit.
It also aims to promote innovation through digitalization to adapt to the changing global economy.
Together, they plan to accomplish sustainable growth by cooperating in various fields such as fostering human resources, tackling environmental challenges, and recovering from the COVID-19 pandemic.
Speaking at the APEC Economic Leader's Meeting, which took place virtually on Friday due to the pandemic, President Moon Jae-in suggested facilitating the movement of essential personnel such as corporate personnel to promote economic cooperation and inclusiveness between member states.
"The future growth of the Asia Pacific region where there are many countries open to trade, depends on the expansionary balance in which free trade benefits everyone.
Strengthening the multilateral trading system will speed up economic recovery in the region."
The leaders also agreed to advance economic integration by working on the Free Trade Area of the Asia-Pacific agenda.
"There's no denying that trade and investment has led to economic growth and greater wealth in the Asia-Pacific region. However, there is also a collective concern that not all segments of our society have benefited from such wealth. The honor is on us as leaders to bring the distributive effects of trade and investment to all of our people."
They also agreed to promote the digital economy and the flow of data that can help Micro, Small, and Medium Enterprises and women by opening new opportunities.
The leaders tasked their senior officials to complete a comprehensive implementation plan by next year to review such goals.
Hong Yoo, Arirang News.