Leaders from the Asia-Pacific Economic Cooperation forum are meeting for two days of talks in the Peruvian capital, Lima. They are expected to discuss trade, investment and sustainable growth.

Japanese Prime Minister Ishiba Shigeru, US President Joe Biden and Chinese President Xi Jinping are among those attending the summit on Friday and Saturday.

Biden will likely want to advance discussions on issues including famine, climate change and the situation in Ukraine before handing power to US President-elect Donald Trump in January.

Xi participated in the opening ceremony of a port in Peru on Thursday by video link together with Peruvian President Dina Boluarte. The facility is a key project of Beijing's Belt and Road Initiative.

Xi's participation is a sign of China's increasing presence in Latin America.

A series of meetings are set to take place on the sidelines of the APEC summit. They include bilateral talks between the United States and China, Japan and China, and Japan and the United States.

Observers are watching the leaders closely in light of Trump's upcoming return to the White House. He is known for his protectionist stance, such as hiking tariffs.