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- 작성자 HIMEA
- 조회수 40
Participation in the GCC–ASEAN Summit
Consultations on Partnerships with Southeast Asian Nations and China
On Tuesday, the 27th, the Gulf Cooperation Council (GCC) participated in the first trilateral meeting with China and the Association of Southeast Asian Nations (ASEAN). The meeting brought together the six GCC member states, including Saudi Arabia and the United Arab Emirates, the ten ASEAN countries, such as Malaysia, Indonesia, and Singapore, as well as China.
During the summit, the participants issued a joint statement expressing their commitment to strengthening economic cooperation and agreed to “pursue a shared path toward a peaceful and just future.”
Expected Economic Benefits from Trilateral Cooperation
At a press conference, Malaysian Prime Minister Anwar Ibrahim, who served as the ASEAN chair and host of the summit, emphasized that the United States remains an important market. He noted that the combined population of the GCC, China, and ASEAN amounts to approximately 2.15 billion people, with a total GDP of 24.87 trillion USD, adding that “such an economic scale provides opportunities to create synergy within our regional markets and promote cross-regional investment.”
Promoting trade expansion through partnership development
The countries participating in the economic joint declaration reaffirmed their collective commitment through the statement, expressing their determination to expand partnerships and fully realize their potential in order to deliver tangible benefits to their people and societies.
They further emphasized that among these cooperative efforts, the promotion of free trade is the most crucial, expressing hopes for the early conclusion of a Free Trade Agreement (FTA) between the GCC and China, as well as enhancements to the free trade zone between ASEAN and China.
Malaysian Prime Minister Anwar Ibrahim dismissed claims that ASEAN nations are excessively aligned with China, stressing that they are striving to maintain a balanced relationship with major powers, including the United States.
Enhancing trade relations between the GCC and ASEAN
As of 2024, the total trade volume between ASEAN and the GCC reached approximately 63 billion USD, making the GCC ASEAN’s fifth-largest external trading partner, a 60 percent increase compared to 2019.
Jaideep Singh, an analyst at the Institute of Strategic and International Studies (ISIS) Malaysia, noted the rapid growth of trade between ASEAN and the GCC, explaining that as of 2023, GCC countries’ foreign direct investment (FDI) in the ASEAN region amounted to about 5 billion USD, of which 1.5 billion USD flowed into Malaysia.
Former Malaysian Ambassador to the United States Mohamed Nazri bin Abdul Aziz remarked that China has been quick to learn from the leadership vacuum created by President Trump’s tariff threats, adding that the future of the three parties participating in this summit looks bright, with strong prospects for growth.
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