Latest news with #ASEAN-GCC-ChinaEconomicForum
Qatar Tribune
2 days ago
- Business
- Qatar Tribune
Qatar's trade with Malaysia grows 80% to QR5.2 billion: QC
Tribune News Network Doha Trade relations between Qatar and Malaysia have witnessed remarkable growth, with bilateral trade increasing by 80 percent in 2024 to reach QR5.2 billion, up from QR2.9 billion in 2023, according to Rashid bin Hamad Al Athba, second vice chairman of Qatar Chamber. Al Athba made the announcement during the ASEAN-GCC-China Economic Forum held in the Malaysian capital on Wednesday. The event brought together senior government officials, business leaders, and investors from ASEAN, GCC countries, and China to explore economic cooperation and strategic investments across key sectors. Qatar Chamber participated in the forum with a delegation headed by Al Athba and included board members Eng Ali bin Abdul Latif Al Misnad and Nasser bin Suleiman Al Haidar. The forum featured high-level sessions on boosting investment between ASEAN, GCC, and China, the role of artificial intelligence in transforming industries, and accelerating growth in energy and logistics sectors across the ASEAN region. On the sidelines of the forum, Al Athba held bilateral meetings with regional leaders to strengthen economic ties. He met with Minister of Finance and Economy of Brunei Dato Amin Abdullah where both sides discussed opportunities for collaboration and the signing of new cooperation agreements with the Brunei Chamber of Commerce and Industry. Al Athba also met with Malaysia's Deputy Minister of Investment, Trade and Industry Liew Chin Tong. The two discussed ways to deepen trade and economic cooperation between Qatar and Malaysia, as well as enhancing mutual investments in diverse sectors. Speaking to the media, Al Athba emphasised the readiness of Qatar's private sector to expand cooperation with ASEAN countries. 'ASEAN is one of the world's fastest-growing economic regions, strategically located on global trade routes and home to a population of approximately 690 million. These attributes make it highly attractive to Gulf investors looking to scale their global footprint,' he said. He called on business leaders in ASEAN countries and China to explore Qatar's dynamic business environment, benefit from the investment incentives on offer, and form commercial alliances with Qatari companies. The forum reaffirmed Qatar Chamber's commitment to advancing economic collaboration between Qatar, ASEAN countries, and China, while also promoting Qatar as a leading hub for trade and investment in the region.
The Sun
3 days ago
- Business
- The Sun
Li Qiang highlights vast potential for ASEAN-GCC-China economic collaboration
KUALA LUMPUR: Amid a new wave of technological revolution and industrial transformation, Chinese Premier Li Qiang has called on ASEAN and Gulf Cooperation Council (GCC) countries to jointly pioneer core sectors of trilateral development, including cooperation in high-tech industries, while safeguarding industrial and supply chains. Speaking at the ASEAN-GCC-China Economic Forum on Tuesday evening, Li highlighted the rising challenges of protectionism and unilateralism, stressing that the three regions must steadfastly promote openness and eliminate hostility to unlock broader market opportunities. He emphasised that while the combined economic scale of the three regions accounts for about one-quarter of the global economy, their current total trade volume only accounts for approximately 5.4 per cent of global trade, indicating vast room and potential for cooperation. 'This indicates a critical entry point for us to strengthen cooperation and accelerate development,' Li said. Reflecting on public cooperation, he expressed optimism after witnessing vibrant growth during his visit to Malaysia, as well as during his previous trips to the Middle East and Gulf countries last year. Li noted that each country possesses unique strengths, and deeper collaboration can create powerful synergies. 'This collaboration will deliver higher-quality research and development (R&D) support for innovation platforms, a broader range of applied products, and foster the growth of emerging industries and new business models, thereby boosting the trilateral nations' influence and standing in the global innovation landscape,' he said. Using the new energy vehicle (NEV) sector as an example, Li revealed that China's NEV production and sales surpassed four million units between January and April this year. He added that over 80 per cent of China's manufacturing sector now operates under the 'Smart Factory' framework. 'NEVs are not only a triumph of the energy revolution but also an integration of intelligent technologies, serving as a major smart hub that accelerates the development of multiple emerging technologies,' he said. Li further highlighted China's commitment to proactive fiscal policies and moderately accommodative monetary policies, along with accelerating industrial upgrades toward high-end, intelligent, and green development to cultivate emerging industries. 'No matter what challenges lie ahead, the Chinese government and people have the capacity and confidence to keep China's economic 'giant ship' steady and on course. 'We will firmly commit to enhancing our high-level openness and will implement more autonomous and stable measures to promote openness,' he added. Li also underscored that Asia's rapid development over recent decades has confirmed that unity, rejuvenation, peace, and stability are the foundations for sustainable growth and prosperity. 'The countries share a common destiny. Without mutual trust, conflicts will arise and escalate, making cooperation impossible. 'Conversely, enhancing unity and rejuvenation enables strategic mutual support, fostering wider, more sustainable, and high-level economic cooperation, and ensuring long-term stable development,' he said.
The Sun
3 days ago
- Business
- The Sun
China's premier calls for ASEAN-GCC high-tech ties
KUALA LUMPUR: Amid a new wave of technological revolution and industrial transformation, Chinese Premier Li Qiang has called on ASEAN and Gulf Cooperation Council (GCC) countries to jointly pioneer core sectors of trilateral development, including cooperation in high-tech industries, while safeguarding industrial and supply chains. Speaking at the ASEAN-GCC-China Economic Forum on Tuesday evening, Li highlighted the rising challenges of protectionism and unilateralism, stressing that the three regions must steadfastly promote openness and eliminate hostility to unlock broader market opportunities. He emphasised that while the combined economic scale of the three regions accounts for about one-quarter of the global economy, their current total trade volume only accounts for approximately 5.4 per cent of global trade, indicating vast room and potential for cooperation. 'This indicates a critical entry point for us to strengthen cooperation and accelerate development,' Li said. Reflecting on public cooperation, he expressed optimism after witnessing vibrant growth during his visit to Malaysia, as well as during his previous trips to the Middle East and Gulf countries last year. Li noted that each country possesses unique strengths, and deeper collaboration can create powerful synergies. 'This collaboration will deliver higher-quality research and development (R&D) support for innovation platforms, a broader range of applied products, and foster the growth of emerging industries and new business models, thereby boosting the trilateral nations' influence and standing in the global innovation landscape,' he said. Using the new energy vehicle (NEV) sector as an example, Li revealed that China's NEV production and sales surpassed four million units between January and April this year. He added that over 80 per cent of China's manufacturing sector now operates under the 'Smart Factory' framework. 'NEVs are not only a triumph of the energy revolution but also an integration of intelligent technologies, serving as a major smart hub that accelerates the development of multiple emerging technologies,' he said. Li further highlighted China's commitment to proactive fiscal policies and moderately accommodative monetary policies, along with accelerating industrial upgrades toward high-end, intelligent, and green development to cultivate emerging industries. 'No matter what challenges lie ahead, the Chinese government and people have the capacity and confidence to keep China's economic 'giant ship' steady and on course. 'We will firmly commit to enhancing our high-level openness and will implement more autonomous and stable measures to promote openness,' he added. Li also underscored that Asia's rapid development over recent decades has confirmed that unity, rejuvenation, peace, and stability are the foundations for sustainable growth and prosperity. 'The countries share a common destiny. Without mutual trust, conflicts will arise and escalate, making cooperation impossible. 'Conversely, enhancing unity and rejuvenation enables strategic mutual support, fostering wider, more sustainable, and high-level economic cooperation, and ensuring long-term stable development,' he said.
Malaysia Sun
3 days ago
- Business
- Malaysia Sun
Thani Al Zeyoudi participates in inaugural ASEAN-GCC-China Economic Forum in Kuala Lumpur, Malaysia
KUALA LUMPUR, Malaysia, 27th May, 2025 (WAM) -- The UAE, represented by Dr Thani Al Zeyoudi, Minister for Foreign Trade, participated in the inaugural ASEAN-GCC-China Economic Forum in Kuala Lumpur, Malaysia. Al Zeyoudi underscored how greater collaboration across Asia can accelerate growth, drive innovation and consolidate the region's rise a global economic power. He also reaffirmed the UAE's commitment to building strong trade and investment partnerships across the world and that the future-focused nations of Asia were natural partners in these efforts. Leaders and business representatives from 17 nations gathered in the Malaysian capital to exchange views on how they work together to navigate today's complex economic and geopolitical landscape. Al Zeyoudi said the Forum offered the chance for attending nations to align their economic visions to achieve strong growth: "By deepening our connections and exploring avenues of mutual interest, the GCC, China and ASEAN bloc can not only maintain our own upward growth trajectories but become the driving force of the global economy. Our foreign trade policy has been designed to bring our economy closer to the markets of Asia and together we can increase the flow of goods and services between us, support vital infrastructure projects, share knowledge, and accelerate innovation. This forum has underlined the depth of this potential - and created the platform to help the nations of our high-growth regions realize it." The UAE enjoys positive trade and investment ties with nations across Asia, including the ASEAN bloc. The UAE has concluded Comprehensive Economic Partnership Agreements (CEPAs) with Indonesia, Cambodia, Vietnam and Malaysia, helping to propel the UAE's non-oil foreign trade with ASEAN countries to US$37.7 billion in 2024, a growth of 4.2% compared to 2023 and 16.8% more than in 2022. ASEAN countries accounted for 4.6% of the UAE's total non-oil trade with the world in 2024, and 11.3% of the UAE's trade with non-Arab Asian countries. The UAE also enjoys has strong trade and investment links with China. The total value of UAE-China non-oil trade reached US$90.1 billion in 2024, reflecting a growth of 4% compared to 2023, and increases of 16.5% and 48% compared to 2022 and 2021, respectively. China remained the UAE's top trading partner in 2024, accounting for 11% of the UAE's total non-oil trade with the world. The Forum, held in conjunction with the inaugural ASEAN-GCC-China Summit, 2nd ASEAN-GCC Summit and 46th ASEAN Summit, brought together leaders and representatives from China, the ten Association of South East Asian Nation nations - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam - and the six Gulf Cooperation Council nations - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE. Together, these countries are home to more than two billion consumers, and account for over 20% of the world's GDP.
The Sun
3 days ago
- Business
- The Sun
Businesses should seize opportunities created by successful conclusion of ASEAN-GCC-China Summit
KUALA LUMPUR: Business communities, corporate leaders and industry captains across ASEAN, the Gulf Cooperation Council (GCC) countries, and China should seize the momentum created by the successful conclusion of high-level deliberations at the ASEAN-GCC-China Summit, Prime Minister Datuk Seri Anwar Ibrahim said today. Speaking at the inauguration of ASEAN-GCC-China Economic Forum here tonight, Anwar said that political leaders of the trio had done their part by ensuring policy clarity and regional stability, and it was now up to the private sector to act decisively. 'Because we have given our support, policies, there is clarity of policies. Now, you need to ensure that we benefit from this clear sounding position of the political leadership and clarity of economic policies. 'So, I look forward to this Fortune ASEAN-GCC-China Summit. Because we want to see results and it is your duty now to act and ensure that our countries benefit from one another. 'So much synergy, so much collaboration required and so much hope to fulfil the aspirations of our countries,' Anwar said. Also present to officiate the opening ceremony was China's Premier Li Qiang. Others in attendance were Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi, Foreign Minister Datuk Seri Mohamad Hasan, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Transport Minister Anthony Loke, Home Minister Datuk Seri Saifuddin Nasution Ismail, Health Minister Datuk Seri Dr Dzulkefly Ahmad and Perak Menteri Besar Datuk Seri Saarani Mohamad. Among others present here were Minister of State for Foreign Trade of the United Arab Emirates Dr Thani Ahmed Al Zeyoudi; Saudi Minister of Investment, Khalid Abdulaziz Al-Falih; Vietnam Prime Minister Pham Minh Chinh and Timor-Leste's Minister of Commerce and Industry, Filipus Nino Pereira. Meanwhile, Anwar, who is also the Finance Minister described the ASEAN-GCC-China Summit outcomes as a 'testimony' to Malaysia's and ASEAN's position of centrality, effective engagement and strong commitment to economic fundamentals. He noted that ASEAN leaders had shown vision and resolve in addressing and overcoming even the most sensitive issues during the summit, reaffirming ASEAN's independence, unity and strategic relevance. The Prime Minister highlighted ASEAN's growing partnership with the GCC, which he described as a 'dynamo' of the Middle East, citing its resilience, energy strengths, and leadership in digitalisation and artificial intelligence (AI). Anwar also thanked those from GCC who have decided to join in this venture and work together as a new formidable team. 'Plus the fact that China has proved without doubt the capacity to effect change in the economy, in technology, in its attempt to showcase to the world that united we stand and we focus on what is important to humanity at large. That is justice, fairness to one and to all,' he added. The ASEAN-GCC-China Economic Forum 2025 was held in conjunction with the 46th ASEAN Summit, the 2nd ASEAN-GCC Summit, and the inaugural ASEAN-GCC-China Summit. Themed 'Inclusivity and Sustainability', the meetings mark Malaysia's fifth time as ASEAN Chair.
