Latest news with #ASEAN–GulfCooperationCouncil
GMA Network
27-05-2025
- Business
- GMA Network
Marcos asks oil-rich Arab nations for contributions to Loss and Damage Fund
Security force members use an inflatable raft to bring residents to safety from a flooded area near the bank of the overflowing Bagmati River following heavy rains, in Kathmandu, Nepal, September 28, 2024. REUTERS/Navesh Chitrakar KUALA LUMPUR - Philippine President Ferdinand "Bongbong" Marcos Jr. asked oil-rich Arab countries for contributions to the Loss and Damage Fund. During the 2nd ASEAN – Gulf Cooperation Council (GCC) Summit, Marcos emphasized that climate change remains ''one of the most defining challenges of our time—not the most defining challenge of our time.'' ''Both our regions are climate vulnerable,'' Marcos said. ''Our populations face significant climate-related risks, such as sea level rise, rising temperatures, desertification, and loss of biodiversity, amongst others. As host of the Fund Corresponding to Loss and Damage, or FRLD, the Philippines would like to encourage contributions through that fund,'' he added. The member states of the GCC include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Marcos said the Philippines' hosting of the FRLD would accelerate the unhindered access of developing nations to climate finance. This shall help in the development and implementation of transformative and science-based strategies and initiatives for climate change adaptation, mitigation, and disaster risk management, Marcos said. Marcos has made a commitment to push for evidence-based solutions in addressing the impacts of climate change, adding that its unprecedented impact has the potential to disrupt communities and supply chains. The Philippines was elected to host the Loss and Damage Board in July 2024. The Loss and Damage Fund aims to provide financial assistance to vulnerable countries dealing with the devastating effects of climate change. — VBL, GMA Integrated News
The Sun
20-05-2025
- Business
- The Sun
Malaysia's ASEAN leadership aligns with growing demand for pragmatic alliances
KUALA LUMPUR: Malaysia, under the leadership of Prime Minister Datuk Seri Anwar Ibrahim and as ASEAN chair for 2025, is pushing for a neutral, trade-focused course, seeking economic cooperation with multiple nations while avoiding confrontation. While there are exceptions, the overarching policy remains intact. Malaysia's chairmanship comes at a strategically opportune moment, as the country hosts the first-ever ASEAN–Gulf Cooperation Council (GCC)–China Economic Summit, signalling growing demand for multilateralism. Taylor's University School of Law and Governance senior lecturer Julia Roknifard said ASEAN and the GCC are not seeking to replace one dominant power with another; rather, they are focused on establishing a new balance in which cooperation among regional powers reduces dependence on any single nation. 'China, aware of the risks of foreign entanglements, has intentionally avoided the aggressive tactics seen in other parts of the world, including economic coercion or military interventions,' she said in a statement. Rocknifard elaborated that aggressive tactics seen in other parts of the world, such as economic coercion and military interventions, have often proven ineffective, as demonstrated by situations like nuclear proliferation and ongoing control conflicts. An expert in Middle Eastern studies and international security, Roknifard has extensive academic and consultancy experience with international organisations. She noted that geopolitical tensions and destabilising actions by certain global powers have further fragmented the international order and disrupted global trade systems. 'In response to these shifts, regional blocs like ASEAN, the GCC, and China have distanced themselves from what is increasingly perceived as self-destructive behaviour by the United States. 'These organisations are not formal alliances, but pragmatic collaborations designed to enhance their collective leverage against larger powers,' she said. The combined population of ASEAN, GCC, and China exceeds two billion, forming a vast consumer market. Together, these regions also possess significant energy and commodity reserves, while China contributes global manufacturing strength and technological advances, particularly in renewable energy and electric vehicles. Roknifard opined that while the future of a multipolar world remains uncertain, the trend is clear: regional and intergovernmental organisations are rising as new power centres, focused on safeguarding their interests and resisting external pressure. 'In the short term, such cooperation is expected to help mitigate trade and supply chain disruptions, offering hope for greater stability and economic cooperation,' she added.
The Sun
20-05-2025
- Business
- The Sun
Malaysia's ASEAN Leadership: Forging pragmatic alliances
KUALA LUMPUR: Malaysia, under the leadership of Prime Minister Datuk Seri Anwar Ibrahim and as ASEAN chair for 2025, is pushing for a neutral, trade-focused course, seeking economic cooperation with multiple nations while avoiding confrontation. While there are exceptions, the overarching policy remains intact. Malaysia's chairmanship comes at a strategically opportune moment, as the country hosts the first-ever ASEAN–Gulf Cooperation Council (GCC)–China Economic Summit, signalling growing demand for multilateralism. Taylor's University School of Law and Governance senior lecturer Julia Roknifard said ASEAN and the GCC are not seeking to replace one dominant power with another; rather, they are focused on establishing a new balance in which cooperation among regional powers reduces dependence on any single nation. 'China, aware of the risks of foreign entanglements, has intentionally avoided the aggressive tactics seen in other parts of the world, including economic coercion or military interventions,' she said in a statement. Rocknifard elaborated that aggressive tactics seen in other parts of the world, such as economic coercion and military interventions, have often proven ineffective, as demonstrated by situations like nuclear proliferation and ongoing control conflicts. An expert in Middle Eastern studies and international security, Roknifard has extensive academic and consultancy experience with international organisations. She noted that geopolitical tensions and destabilising actions by certain global powers have further fragmented the international order and disrupted global trade systems. 'In response to these shifts, regional blocs like ASEAN, the GCC, and China have distanced themselves from what is increasingly perceived as self-destructive behaviour by the United States. 'These organisations are not formal alliances, but pragmatic collaborations designed to enhance their collective leverage against larger powers,' she said. The combined population of ASEAN, GCC, and China exceeds two billion, forming a vast consumer market. Together, these regions also possess significant energy and commodity reserves, while China contributes global manufacturing strength and technological advances, particularly in renewable energy and electric vehicles. Roknifard opined that while the future of a multipolar world remains uncertain, the trend is clear: regional and intergovernmental organisations are rising as new power centres, focused on safeguarding their interests and resisting external pressure. 'In the short term, such cooperation is expected to help mitigate trade and supply chain disruptions, offering hope for greater stability and economic cooperation,' she added.
