The first meeting in eight years in South America will be attended by most of the leaders of member states, including President Yoon Suk Yeol, US President Joe Biden, Chinese President Xi Jinping and Japanese Prime Minister Shigeru Ishiba.
However, President Vladimir Putin of Russia at war and President Claudia Sheinbaum of Mexico, who had diplomatic friction with Peru over the political situation in Peru, are absent.
The APEC meeting is the first major multilateral meeting to be held since President-elect Donald Trump's presidential victory, and attention is being paid to whether member states will be able to speak out on the possibility of a resurgence of protectionism by the second Trump administration.
Earlier, a joint declaration was adopted at the APEC summit held shortly after the 2016 U.S. presidential election, when former President Trump was first elected president.
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