Latest news with #ASEAN-GCCFrameworkofCooperation2024-2028
Muscat Daily
27-05-2025
- Business
- Muscat Daily
GCC, ASEAN to boost economic ties
Kuala Lumpur, Malaysia – Association of Southeast Asian Nations (ASEAN) and Gulf Cooperation Council (GCC) agreed on Tuesday to boost bilateral ties at their second summit hosted in the Malaysian capital. GCC leaders agreed to continue furthering partnerships with ASEAN nations in the face of global challenges and attain common economic opportunities. 'We want to raise this figure to US$180bn by 2032 because there is huge potential that has yet to be explored in bilateral trade and investment,' said Sheikh Sabah Khaled al Hamad al Sabah, Crown Prince of Kuwait. The total trade volume between the two blocs amounted to US$130.7bn in 2024. Sheikh Sabah stressed the importance of accelerating negotiations for a GCC–ASEAN Free Trade Agreement, which is expected to unlock new investment opportunities and enhance regional supply chains. He also called for greater collaboration in energy security, climate action and technical fields. Key summit topics included economic cooperation, regional security, food and energy security, climate change and collaboration in education, technology and culture. In his opening remarks, Anwar Ibrahim, Prime Minister of Malaysia, expressed 'appreciation for the presence of all leaders, a strong signal of their shared resolve to strengthen ASEAN-GCC cooperation and to explore broader, forward-looking partnerships for the benefit of their peoples'. The ASEAN-GCC Framework of Cooperation 2024-2028, adopted at the inaugural summit in Riyadh in 2023, 'serves as our strategic roadmap to advance collaboration across political and security, economic and socio-cultural pillars', said Anwar. Oman's delegation was led by H H Sayyid Asaad bin Tarik al Said, Deputy Prime Minister for International Relations and Cooperation Affairs and Special Representative of His Majesty the Sultan. Addressing the summit, H H Sayyid Asaad said permanent peace in the Middle East cannot be achieved unless Israel halts its policy of genocide against the Palestinian people. 'The international community, and all nations represented at this summit, must take urgent political, diplomatic and economic measures to end Israeli aggression and ensure the unimpeded delivery of humanitarian aid to the Gaza Strip.'
Malaysia Sun
27-05-2025
- Business
- Malaysia Sun
On behalf of UAE President, RAK Ruler participates in ASEAN-GCC Summit in Malaysia
KUALA LUMPUR, 27th May, 2025 (WAM) -- On behalf of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, has led the UAE delegation to the second ASEAN-GCC Summit in Kuala Lumpur, Malaysia. Held under the theme "Inclusivity and Sustainability," the summit brought together leaders, heads of government, and representatives of member states. In his address, H.H. Sheikh Saud conveyed the greetings of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and his wishes for the success of the summit. He also thanked the government and people of Malaysia for hosting the high-level gathering. "We meet today not just as strategic partners, but as friends bound by shared values, mutual respect, and a common ambition to build a brighter future for our peoples," Sheikh Saud said. "This summit is more than a diplomatic gathering; it is a bridge of opportunity connecting hearts and minds across continents." He commended the efforts made in preparing for the summit and strengthening cooperation between the GCC and ASEAN countries, calling it a testament to what can be achieved through joint action. The UAE, he said, firmly believes that meaningful progress stems from cooperation, dialogue, and investment in partnerships that transcend cultures and regions. He highlighted ASEAN's rise as a beacon of progress, pragmatism, and peace, while noting the Gulf region's natural role as a gateway to Southeast Asia. Sheikh Saud reaffirmed the UAE's commitment to the ASEAN-GCC Framework of Cooperation 2024-2028, covering key sectors including trade, investment, energy, digital transformation, and sustainable development. He stressed that the partnership serves not only as a platform for economic alignment but also for cultural exchange, mutual understanding, and a future defined by trust, innovation, and shared humanity. "In remembering our past, honouring our partnerships, and deepening mutual understanding, we shape a future worth striving for," he said. "The UAE remains a steadfast partner, a reliable ally, and a proactive contributor to our shared progress. We hope this cooperation continues to shine as a model of what is possible when regions unite around common goals and a shared vision." The summit opened with remarks from Malaysian Prime Minister Anwar Ibrahim, who welcomed delegates and emphasised the importance of the summit in promoting economic cooperation, growth opportunities, and joint efforts toward sustainable development, peace, security, and stability in the face of regional and global challenges. The UAE delegation included Sheikh Khalid bin Saud bin Saqr Al Qasimi, Vice Chairman of Ras Al Khaimah's Investment and Development Office; Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Ahmed Al Sayegh, Minister of State; Khalifa Shaheen Al Marar, Minister of State; Khalil Mohammed Sharif Foulathi, board member of the Abu Dhabi Investment Authority; Dr. Mubarak Saeed Al Dhaheri, UAE Ambassador to Malaysia, and Abdullah Salem Al Dhaheri, UAE Ambassador to Indonesia and ASEAN.
