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The Asia-Pacific Economic Cooperation summit agreed on declarations regarding AI and changing democraphics as it wrapped up on Saturday.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. 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 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