Gyeongju, Oct 28 (NationPress) Senior officials from the Asia-Pacific Economic Cooperation (APEC) member economies are diligently striving to establish common ground on enhancing trade and minimizing barriers, among other initiatives, as they aim to finalize a comprehensive roadmap on Tuesday for the pivotal agenda items leading up to the leaders' summit.

The Concluding Senior Official's Meeting (CSOM) has wrapped up two days of discussions focused on advancing APEC initiatives for growth and cooperation on its final day, Tuesday, as reported by the organizing committee.

The recommendations from this meeting will be presented at the ministerial gathering scheduled for Wednesday, prior to being finalized at the leaders' summit set for Friday and Saturday, according to Yonhap News Agency.

As the chair of APEC this year, South Korea is intent on building consensus with its fellow members on adopting a joint declaration that encompasses trade, digital transformation, and other mutual concerns, under the theme of "Building a Sustainable Tomorrow: Connect, Innovate, Prosper."

South Korea is also advocating for the emphasis on artificial intelligence (AI) collaboration and strategies to address demographic changes as key initiatives for regional cooperation.

A critical aspect will be whether, and to what extent, member economies can reach an agreement on the terminology related to free trade, given their varying perspectives on the matter, especially amidst the growing trend of protectionism in the global economy.

Historically, most APEC leaders' declarations have underscored support for free trade based on the World Trade Organization (WTO) framework and their dedication to multilateralism.

From 2021 to 2024, every APEC summit declaration has reiterated the phrase: a rules-based multilateral trading system with the WTO "at its core," which first emerged in the 2021 declaration following the conclusion of U.S. President Donald Trump’s first term.

Adoption of a leader's declaration is contingent upon consensus, requiring the backing of every APEC member.

"The CSOM officials have reaffirmed their collective commitment to concluding discussions on the wording of the final summit document to achieve substantial results," the foreign ministry stated in a release.

During the CSOM, member economies are also considering a new APEC roadmap aimed at enhancing regulatory readiness and institutional capacity across finance, digital platforms, and the creative economy.

Additional topics under discussion include food and energy security, as well as social protection policies to ensure long-term well-being amidst climate and geopolitical challenges.