London Daily

Focus on the big picture.
Thursday, Feb 26, 2026

APEC pledges to boost trade as geopolitical rifts hijack regional summits

APEC pledges to boost trade as geopolitical rifts hijack regional summits

Leaders of the 21-member APEC bloc pledged on Saturday to boost trade and do more to tackle other economic challenges, wrapping up the last of three summits in the region in a week that have been overshadowed by intense geopolitical rivalry.

The summits have been attended by global leaders, and the talks have often been disrupted by friction spilling over from the war in Ukraine as well as flashpoints such as the Taiwan strait and the Korean peninsula.

A Southeast Asian summit that included China, Japan and the United States was held in Cambodia, while the Group of 20 (G20) major economies met on the Indonesian island of Bali.

The opening of the Asia-Pacific Economic Cooperation (APEC) meeting was interrupted on Friday when Vice President Kamala Harris, who is heading the US delegation, called an emergency gathering of allies on the sidelines to condemn North Korea after it test-fired an intercontinental ballistic missile capable of reaching the United States.

On Saturday, Thai Prime Minister and APEC chair Prayuth Chan-ocha sought to bring the focus back to economic issues and said APEC made “significant progress” by agreeing a multi-year work plan for a Free Trade Area of the Asia-Pacific (FTAAP).

An APEC leaders’ declaration said the group would uphold and further strengthen a rules-based multilateral trading system, but also recognized more intensive efforts were needed to address challenges like rising inflation, food security, climate change and natural disasters.

“This year, we have also witnessed the war in Ukraine further adversely impact the global economy,” said the declaration, which said most members strongly condemned the war.

At the G20 meeting in Indonesia, members unanimously adopted a declaration that said most members condemned the Ukraine war but also acknowledged some countries saw the conflict differently.

The APEC leaders echoed the G20 declaration as they referred to UN resolutions that deplore Russia’s aggression and demand its complete and unconditional withdrawal from Ukraine, but also noted a variety of opinions.

“There were other views and different assessments of the situation and sanctions. Recognizing that APEC is not the forum to resolve security issues, we acknowledge that security issues can have significant consequences for the global economy,” the bloc said.

Russia is a member of both G20 and APEC but President Vladimir Putin has stayed away from the summits. First Deputy Prime Minister Andrei Belousov is representing him at APEC.


‘Brazen violation’


The US city of San Francisco will host the next APEC summit and Prime Minister Prayuth handed over the chair to Vice President Harris at a ceremony.

“We are ready to conduct a seamless cooperation with them,” he said, while presenting Harris with a “chalom,” a woven bamboo basket used to carry goods and gifts in Thailand.

A day earlier, North Korea’s missile test just an hour before the APEC forum was inaugurated prompted Harris to call an emergency meeting with leaders from Australia, Japan, South Korea, Canada and New Zealand.

“This conduct by North Korea most recently is a brazen violation of multiple UN Security Council resolutions,” Harris said.

Friday’s launch came after US President Joe Biden met his Chinese counterpart Xi Jinping on Monday in Bali and said Beijing has an obligation to try to talk North Korea out of resuming nuclear testing, while adding that it was unclear whether China would be able to sway Pyongyang.

Harris briefly met Xi on Saturday, a White House official said, adding that she had emphasized the importance to “maintain open lines of communication to responsibly manage the competition between our countries.”

Ties between the superpowers have been strained in recent years over issues like tariffs, Taiwan, intellectual property, the erosion of Hong Kong’s autonomy and disputes over the South China Sea.

Xi attended both the G20 and APEC summits and held a flurry of bilateral meetings, marking a return of the leader to the main stage of global diplomacy after China’s long spell of COVID isolation.

Warning against Cold War tensions in a region that is a focus for competition between Beijing and Washington, Xi said on Thursday that the Asia-Pacific was no one’s backyard and should not become an arena of big-power rivalry.

“No attempt to wage a new Cold War will ever be allowed by the people or by our times,” he told a business event linked to the APEC summit.

Set up to promote economic integration, APEC’s members account for 38 percent of the global population, and 62 percent of gross domestic product and 48 percent of trade.

Campaigners are keen to see leaders address issues such as food insecurity, surging inflation, climate change and human rights.

A reminder of grassroots demands came as Thai pro-democracy protesters clashed with police on Friday who responded by firing rubber bullets about 10 km (6 miles) from the central Bangkok summit venue.

Newsletter

Related Articles

0:00
0:00
Close
So, what's happened is, I think, government policy, not just under Labour, but under the Conservatives as well, has driven a lot of small landlords out of business.
Larry Summers, the former U.S. Treasury Secretary, is resigning from Harvard University as fallout continues over his ties to Jeffrey Epstein.
U.S. stocks ended higher on Wednesday, with the Dow gaining about six-tenths of a percent, the S&P 500 adding eight-tenths of a percent, and the tech-heavy Nasdaq climbing roughly one-and-a-quarter percent.
From fears of AI-fuelled unemployment to Big Tech's record investment, this is AI Weekly.
Apple just dropped iOS 26.4.
US Lawmakers Seek Briefing from UK Over Reported Encryption Order Directed at Apple
UK Business Secretary Calls on EU to Remove Trade Barriers Hindering Growth
Legal Pathways for Removing Prince Andrew from Britain’s Line of Succession Examined
PM Netanyahu welcome India PM Narendra Modi to Israel
Shadow Diplomacy: How Harry and Meghan’s Jordan Trip Undermines the Monarchy
Sir Jim Ratcliffe, co-owner of Manchester United, comments on immigration in the UK.
Bill Gates, the UN and the WEF are attempting to construct "a giant digital gulag for all of humanity" via digital ID, CBDCs and vaccine passport infrastructure.
Britain’s Channel Crisis: Paying Billions While the Boats Keep Coming
Downing Street’s Veteran Deception Scandal
UK HealthCare Expands ‘Food as Health’ Initiative Statewide to Tackle Chronic Illness in Kentucky
Leonardo Chief Says UK Set to Decide on New Medium Helicopter Programme
UK Slows Chagos Islands Agreement After Concerns Raised in Washington
European and UK Stock Markets Reach Fresh Highs as Banks and Miners Lead Rally
UK Government Insists Chagos Islands Negotiations Continue After Minister’s ‘Pause’ Remark
No Confirmed Deal for Engie to Acquire UK Power Networks Amid Market Speculation
UK Reaffirms Updated Entry Requirements for Travellers as of February 25, 2026
General Atlantic to sell equity stake in ByteDance, valuing the company at $550 billion
German Chancellor Friedrich Merz Secures Pledge from China for Greater Imports of Quality Goods
Lord Mandelson Condemns Arrest as Driven by ‘Baseless Suggestion’ He Would Flee Abroad
Former UK Ambassador Released on Bail Following Arrest in Epstein-Linked Investigation
UK Parliament Orders Release of Former Prince Andrew’s Government Vetting Files
Reddit Fined £14 Million by UK Regulator Over Failures in Age Verification Controls
UK Moves to Tighten Regulation of Netflix, Disney+ and Prime Video Under New Media Rules
British Woman Who Reported Rape in Hong Kong Faces Possible Prosecution
'Christianity is the religion that has made this country great.'
Man Receives Parking Ticket 38 Years After Offense: ‘City Officials Said It’s Legitimate’
Woman Receives Gift Card for Christmas – Discovers It Is ‘Worth’ 63,000,000,000,000,000 Pounds
UK Sanctions New Zealand Insurer Maritime Mutual Following Allegations Over Russian Oil Cover
Reform MP Danny Kruger Condemns UK’s ‘Unregulated Sexual Economy’ in Call for Tougher Controls
The Show Must Go On: Prince William and Kate Middleton Shine at the BAFTAs Amid Andrew’s Arrest
UK Sanctions Russian ‘Illicit Oil Traders’ After Email Blunder Exposes Sanctions Evasion Network
Russia Amplifies Baseless Claims That UK and France Plan to Arm Ukraine with Nuclear Weapons
UK Imposes Sanctions on Two Georgian Television Channels Over Alleged Russian Disinformation
United States National Parks See Noticeable Drop in Visitors from Canada, U.K. and Australia
UK, Australia, Canada and New Zealand Escalate Sanctions on Russia as Ukraine War Marks Four Years
I Gave Andrew a Nude Massage Inside Buckingham Palace
UK Economy Faces Acute Strain as Trump’s Global Tariff Reshapes Trade Landscape
UK Signals Retaliation Is Possible as New US Tariff Policy Threatens Trade Stability
British Police Arrest Former Ambassador Peter Mandelson in Epstein-Related Misconduct Probe
Australia Officially Supports Proposal to Remove Andrew Mountbatten-Windsor from Royal Succession
Victorian Premier Jacinta Allan remains silent on ISIS brides' resettlement plans in Melbourne
Former UK Ambassador Peter Mandelson Arrested in Connection with Jeffrey Epstein
Jacob Rees Mogg afraid to talk about Peter Mandelson arrest on “suspicion of misconduct in a public office” (Pedophilia, corruption, etc.)
United Nations Calls for Global Action Against Disinformation and Hate Speech Online
Tucker Carlson warns of an inevitable clash in Western societies over mass migration
×