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Prime Minister Lawrence Wong also called on other APEC leaders to be pragmatic and stay forward-looking.
Singapore Prime Minister Lawrence Wong attends the first session of the 2025 APEC Economic Leaders' Meeting in Gyeongju, South Korea, on Oct 31, 2025. (Photo: Ministry of Digital Development and Information)
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GYEONGJU, South Korea: Leaders of Asia-Pacific Economic Cooperation (APEC) economies are attending the summit in uncertain times, but the group can make a difference by embracing the spirit of cooperation, Prime Minister Lawrence Wong said on Friday (Oct 31).
Speaking during a session at the APEC Economic Leaders' Meeting, Mr Wong called on the other leaders to be pragmatic and stay forward-looking.
"Doing so will deliver tangible outcomes for our economies, while reinforcing the rules-based global order," he said.
The prime minister said there is rising pressure toward fragmentation, and multilateralism is under threat, so it is important to remember the founding beliefs and values of APEC.
He urged APEC leaders to work towards reforming the World Trade Organization (WTO) so that it remains "effective and relevant".
The WTO's principle of making decisions on consensus has become a "recipe for paralysis", he said, adding that new mechanisms are needed so that meaningful outcomes can be delivered.
"As many have already noted, the WTO is not perfect, and our response should not be to abandon it but to improve it."
Mr Wong also spoke about stepping up cooperation across different trade groupings to make progress toward the long-term goal of a Free Trade Area of the Asia-Pacific.
Existing agreements are important building blocks, and bridges should be built between them, he said.
He also noted that sectoral agreements – like one on the green economy that Singapore, Chile and New Zealand are working toward – can bring gradual alignment in specific areas.
APEC leaders attend the 2025 APEC Economic Leaders' Meeting in Gyeongju, South Korea, on Oct 31, 2025. (Photo: Ministry of Digital Development and Information)
The mission to champion free and open trade and investments in the region is now "more important than ever", he said.
"Singapore looks forward to working with all APEC economies to build a global system that benefits everyone."
During a dialogue session with the APEC Business Advisory Council (ABAC), the prime minister met with three Singapore representatives: Mr Kok Ping Soon, chief executive of the Singapore Business Federation; Mr Wong Wai Meng, chairman of SG Tech' and Ms Elaine Lam, group managing director at OCBC.
The prime minister said in a post on X, formerly known as Twitter, that he was grateful for their work in ABAC, which includes launching the APEC Centre for Paperless Trade in Singapore, advancing digital trust and green skills, and helping businesses trade more efficiently.
On the sidelines of official sessions and dialogues, Mr Wong also had bilateral meetings with officials from the United States, Hong Kong and the United Arab Emirates.
He met with US Treasury Secretary Scott Bessent, Hong Kong Chief Executive John Lee and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, who represented the UAE.
The Singapore and United States delegations at the 2025 APEC summit meet in Gyeongju, South Korea, on Oct 31, 2025. (Photo: Ministry of Digital Development and Information)
Singapore Prime Minister Lawrence Wong and Hong Kong Chief Executive John Lee meet on the sidelines of the 2025 APEC summit in Gyeongju, South Korea, on Oct 31, 2025. (Photo: Ministry of Digital Development and Information)
Singapore Prime Minister Lawrence Wong meets Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan on the sidelines of the 2025 APEC summit in Gyeongju, South Korea, on Oct 31, 2025. (Photo: Ministry of Digital Development and Information)
In a separate post on X Mr Wong said it was good to reconnect with the crown prince.
"As Singapore and the UAE mark 40 years of friendship, we spoke about deepening our partnership, including in energy, (artificial intelligence) and digital governance," he said.
Mr Wong has also attended dinners hosted by South Korean President Lee Jae Myung on Wednesday and New Zealand Prime Minister Christopher Luxon on Thursday in Gyeongju.
US President Donald Trump was the guest of honour at the dinner on Wednesday, before his meeting with Chinese President Xi Jinping on Thursday morning in Busan.
