GCC Participates in ASEAN Summit Consultation on Partnerships with Southeast Asian Countries and China
작성자HIMEA
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2025-09-11 14:50:45
GCC, ASEAN, and China Hold Trilateral Meeting
The Gulf Cooperation Council (GCC) participated in its first trilateral meeting with China and the Association of Southeast Asian Nations (ASEAN) last Tuesday. The meeting included the six GCC member states, such as Saudi Arabia and the United Arab Emirates, along with the ten ASEAN member states, including Malaysia, Indonesia, and Singapore. They released a joint statement committing to enhanced economic cooperation and agreed to "explore a common path towards a peaceful and just future".
Economic Impact and Expanded Partnership
The collaboration between the three parties is expected to have significant economic effects. Malaysia's Prime Minister Anwar Ibrahim, who also serves as the ASEAN chairman, noted that the combined population of the GCC, China, and ASEAN is approximately 2.15 billion, with a total GDP of $24.87 trillion. He added that this economic scale "will create synergies in our regional markets and provide an opportunity to boost inter-regional investment". The countries also reaffirmed their shared commitment to expanding their partnership and providing tangible benefits to their people.
Promoting free trade was highlighted as a key area of cooperation. They expressed an interest in expediting the completion of a free trade agreement (FTA) between the GCC and China and improving the free trade area between ASEAN and China. Anwar also dismissed claims that ASEAN countries are overly biased toward China, emphasizing efforts to maintain a balanced relationship with major powers, including the United States.
Increased Trade Between GCC and ASEAN
As of 2024, the total trade volume between ASEAN and the GCC is approximately $63 billion, making the GCC the fifth-largest foreign trade partner for ASEAN. This represents a 60% increase since 2019. According to Jaideep Singh, an analyst at the Institute of Strategic and International Studies in Malaysia, foreign direct investment (FDI) from GCC countries to the ASEAN region was approximately $5 billion in 2023, with $1.5 billion of that flowing into Malaysia.
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