South Korean authorities on Thursday said Chinese and US officials have met on the sidelines of the annual Asia-Pacific Economic Cooperation (Apec) session of trade representatives.

Korea's Industry and Trade Ministry said Chinese trade envoy Li Chenggang met US Trade Representative Jamieson Greer, in a sign of potential further progress to address trade frictions between the world's biggest economies.

The two sides held high-stakes talks earlier this month in Geneva, in which they agreed to slash steep tariffs.

It comes as Apec warned that exports from a region that accounts for around half of world trade will slow sharply this year, and barely grow at all, in the wake of US tariff announcements.

The 21-member bloc projected exports in the region would rise only 0.4 percent this year, compared with 5.7 percent last year, in an analysis report released at its 2025 meeting of ministers responsible for trade in South Korea's resort island of Jeju.

It also cut its regional economic growth forecast for this year to 2.6 percent from the previous 3.3 percent.

"Trade growth is set to decline sharply across Apec due to lower external demand, particularly in manufacturing and consumer goods, while rising uncertainty over goods-related measures weighs on services trade," the bloc said in a statement.

The trade ministers' meeting is being held as part of a second round of senior officials' meetings ahead of an Apec leaders' summit this year in Gyeongju, South Korea. (Reuters)