Leaders from 21 Pacific Rim economies have agreed on the need to pursue free and open trade to spur economic recovery from the coronavirus pandemic, as they issued their first joint declaration in three years.

"We recognize the importance of a free, open, fair, non-discriminatory, transparent and predictable trade and investment environment to drive economic recovery," the leaders of the Asia-Pacific Economic Cooperation, including U.S. President Donald Trump, said in the statement issued Friday after their virtual summit.

The meeting took place for the first time since 2018 after last year's gathering was canceled due to political unrest in Chile, the expected host. In 2018, APEC leaders failed to agree on a joint declaration because of a deepening divide between the United States and China over trade and other issues.