Growing ties, investment between ASEAN and GCC pivotal for long-term prospects
KUALA LUMPUR: Growing investment and ties between Southeast Asia's 10-member bloc and the oil-rich Gulf Cooperation Council (GCC) countries reflect increasing confidence in the long-term prospects of the partnership between both groupings, Prime Minister Datuk Seri Anwar Ibrahim said today.
In his opening remarks, the Prime Minister said the ASEAN-GCC Framework of Cooperation 2024–2028, adopted at the inaugural Summit in 2023, provides a blueprint to deepen collaboration across all three pillars of cooperation and that the momentum is encouraging.
'In 2023, the GCC was ASEAN's seventh largest trading partner, with total trade reaching US$130.7 billion. Investment is also growing, reflecting increasing confidence in the long-term prospects of our partnership,' he said at the Second ASEAN-GCC Summit here today.
Anwar believes that the ASEAN-GCC partnership has never been more important than it is today, 'as we navigate an increasingly complex global landscape marked by economic uncertainty and geopolitical challenges.'
A stronger ASEAN-GCC relationship will be key to enhancing interregional collaboration, building resilience, and securing sustainable prosperity for the peoples.
'Today's deliberations will be crucial in ensuring that our partnership remains dynamic, responsive, and impactful. Let us use today's summit to reaffirm our collective ambition and translate our shared vision into concrete and impactful cooperation,' he said.
Among the ASEAN leaders at the events are the Sultan of Brunei, Sultan Hassanal Bolkiah; Indonesia's President Prabowo Subianto; Cambodia's Prime Minister Hun Manet; Laos' Prime Minister Sonexay Siphandone; Vietnam's Prime Minister Pham Minh Chinh; Philippine President Ferdinand Marcos Jr.; Singapore's Prime Minister Lawrence Wong; and Thailand's Prime Minister Paetongtarn Shinawatra.
Also present at the summit are Timor-Leste's Prime Minister Kay Rala Xanana Gusmao as Observer, and ASEAN secretary-general Dr Kao Kim Hourn.
GCC delegates at the summit include the Emir of Qatar Sheikh Tamim bin Hamad Al Thani, Bahrain's Crown Prince and Prime Minister Salman Hamad Al Khalifa, and Kuwaiti Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah.
Oman's Deputy Prime Minister Sayyid Asaad bin Tarik al Said, Saudi Arabia's Foreign Minister Prince Faisal Farhan Al Saud and UAE Supreme Council Member and Ruler of Ras Al Khaimah Sheikh Saud bin Saqr Al Qasimi are also in attendance.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
15 minutes ago
- The Star
Pakistan hopes to advance Asean partnership status: Envoy
A tourist vehicle drives through a deserted road in Pahalgam in Indian controlled Kashmir, Thursday, May 15, 2025. Malaysia has offered to mediate in the wake of the April 22 attack in Pahalgam, Indian-administered Kashmir, which left 26 people dead and sharply raised tensions between the two neighbours. - AP KUALA LUMPUR: Pakistan is hoping to elevate its standing with Asean from a sectoral dialogue partner to a full dialogue partner, said its High Commissioner to Malaysia, Syed Ahsan Raza Shah. Syed Ahsan said Pakistan, Asean's sectoral dialogue partner since 1993, has long valued its engagement with the regional bloc and looks forward to deepening cooperation. "The matter has been discussed between the Prime Minister of Pakistan and the Prime Minister of Malaysia,' he said at a media briefing here, Friday (June 6). He added that Pakistan views Asean as a key platform for promoting regional peace and stability, fostering economic cooperation, and advancing shared development. In October last year, media reports quoted Prime Minister Datuk Seri Anwar Ibrahim as saying that Pakistan has Malaysia's full support in its bid to become a full dialogue partner of Asean. Meanwhile, Pakistan also Anwar's offer to mediate in the Kashmir conflict, citing his respected standing and close ties with both India and Pakistan as key to easing tensions in the region. Syed Ahsan said Anwar's good relations with the leadership of both countries could play a constructive role in easing tensions between the South Asian neighbours. "Anwar expressed his willingness to engage in dialogue between the two countries after being informed of the postponement of the Pakistani Prime Minister's visit on May 9,' he said. Syed Ahsan highlighted that the call between Anwar and Pakistani Prime Minister Shehbaz Sharif had taken place in the first week of May, just days before fighting broke out in Kashmir. On May 5, Malaysia's offer to mediate comes in the wake of the April 22 attack in Pahalgam, Indian-administered Kashmir, which left 26 people dead and sharply raised tensions between the two neighbours. Following the incident, Anwar expressed Malaysia's willingness to assist in de-escalating the situation, citing its good relations with both parties. - Bernama
![[UPDATED] Malaysia to continue diplomatic efforts for Palestinian cause](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2Fwtanwar76_NSTfield_image_socialmedia.var_1749270124.jpg&w=3840&q=100)
![[UPDATED] Malaysia to continue diplomatic efforts for Palestinian cause](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
15 minutes ago
- New Straits Times
[UPDATED] Malaysia to continue diplomatic efforts for Palestinian cause
PUTRAJAYA: Malaysian Prime Minister Datuk Seri Anwar Ibrahim said regional leaders have agreed to continue consultations and explore urgent solutions to the Gaza crisis, reaffirming a united front against Israeli aggression. Speaking after attending Aidiladha prayers at Masjid Putra, Anwar said his recent conversations with foreign counterparts — including Turkish President Recep Tayyip Erdogan, Iranian President Dr Masoud Pezeshkian, and Pakistani Prime Minister Shehbaz Sharif — had focused on the worsening situation in Gaza. "In all these discussions, we expressed a clear and united stance on Gaza — to stop the violence, reject all efforts to obstruct humanitarian aid, and to strongly condemn Israel's brutal and aggressive actions," he said. Anwar said the leaders had agreed to continue consultations and find alternative ways to resolve the crisis as soon as possible. Malaysia does not have diplomatic relations with Israel and has consistently voiced strong support for the Palestinian cause. The country has long advocated for Palestinian statehood and regularly condemns Israeli actions in the occupied territories. The United States recently vetoed a resolution calling for a ceasefire and unrestricted humanitarian access in Gaza, arguing that it would undermine ongoing diplomatic efforts. The move was heavily criticised by other members of the United Nations Security Council. It marked the 15-member body's first vote on the situation since November, when the United States — a key Israeli ally — also blocked a resolution calling for an end to the fighting. Asked whether Malaysia would raise the matter directly with the United States following its latest veto, Anwar said the government had already conveyed its position. "We have expressed our views, and they are already known to the international community. But this is not something one country can resolve on its own. "As we did with the Gulf states recently through Asean-GCC cooperation, we are rallying other nations to issue firm statements and pressure the world to stop the violence," he said. Anwar also criticised countries that publicly condemned Israel while continuing to supply it with weapons. "To condemn while selling arms to Israel is an act that clearly violates international and humanitarian law," he said. The conflict began after Hamas launched a surprise attack on Israel on October 7, prompting a large-scale Israeli military offensive in Gaza. The war has left Gaza's population facing severe shortages of food, water and medicine, as humanitarian conditions continue to deteriorate.
New Straits Times
an hour ago
- New Straits Times
US-China renewed dialogue seen lifting Malaysia's trade outlook
KUALA LUMPUR: Renewed trade talks between the United States and China are expected to boost investor confidence and strengthen Malaysia's trade momentum, an economist said. Putra Business School economist Professor Dr Ahmed Razman Abdul Latiff said any move to reduce tariffs between the two economic giants could steady the sails for Malaysia by boosting confidence and trade visibility. "If the US and China agree to resume talks and reach a deal to reduce tariffs on each other, Malaysia's trade environment and investor sentiment will become less volatile and uncertain," he told Business Times. "This would boost investor confidence and encourage continued investment in Malaysia," Razman added, noting that while tensions persist, Malaysia is taking steps to shield its economy. Razman also expects Malaysia's export markets and supply chains to remain competitive, although growth may moderate slightly. This, he said, is supported by ongoing efforts to diversify export destinations, grow the country's trading partnerships and enhance intra-Asean trade. Should US-China negotiations break down again, he said the impact on Malaysia would likely remain limited. "There will be some negative impact but it will be minimum as majority of Malaysia's products such as semiconductor will not be subjected to higher tariffs by the US," he said. Trump and Xi held a 90-minute phone conversation on Thursday, marking their first direct dialogue since Trump resumed office. The call, widely viewed as a positive step towards easing the prolonged trade tensions between the world's two largest economies, laid the groundwork for renewed bilateral cooperation and the resumption of high-level trade negotiations. Both leaders agreed to restart trade talks, with senior US officials, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, expected to meet their Chinese counterparts. The timing and venue for these negotiations have yet to be finalised but are anticipated to be announced in the coming weeks. Although the call sparked market optimism, US stocks closed lower as a sharp decline in Tesla shares outweighed the positive momentum from progress in US-China tariff negotiations. Tesla shares plunged over 14 per cent in heavy trading as the escalating public feud between Trump and businessman Elon Musk rattled investors, wiping out about US$150 billion in market value. Razman downplayed concerns over the spat saying, "The impact on Malaysia will be minimal, as the fallout primarily affects the SpaceX program and Tesla production."
