Latest news with #GCCLeaders
Zawya
28-05-2025
- Business
- Zawya
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.' © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Yahoo
27-05-2025
- Business
- Yahoo
ASEAN kicks off summits with China, Gulf states amid US tariff threat
Southeast Asian leaders are set to hold their first ever summit with China and the six-member Gulf Cooperation Council (GCC), as they seek to insulate their trade-dependent economies from the effect of steep tariffs from the United States. The meeting, in the Malaysian capital, Kuala Lumpur, is taking place on Tuesday, on the second day of the annual summit of the 10-member Association of Southeast Asian Nations (ASEAN). It follows separate talks between leaders of the ASEAN and the GCC, which comprises of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Malaysian Prime Minister Anwar Ibrahim, opening the ASEAN-GCC summit, said stronger ties between the two blocs would be key to enhancing interregional collaboration, building resilience and securing sustainable prosperity. 'I believe 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,' Anwar said. Malaysia is the current chair of ASEAN, which also includes Brunei, Cambodia, Laos, Myanmar, the Philippines, Singapore, Thailand and Vietnam. In written remarks before the meetings, Anwar said 'a transition in the geopolitical order is underway' and that 'the global trading system is under further strain, with the recent imposition of US unilateral tariffs.' With protectionism surging, the world is also bearing witness to 'multilateralism breaking apart at the seams', he Premier Li Qiang, who arrived in Kuala Lumpur on Monday, will join ASEAN and the GCC in their first such meeting on Tuesday. He met with Anwar on Monday and called for expanded trade and investment ties between Beijing, ASEAN and the GCC. 'At a time when unilateralism and protectionism are on the rise and world economic growth is sluggish,' Li said, China, ASEAN and GCC countries 'should strengthen coordination and cooperation and jointly uphold open regionalism and true multilateralism'. China is willing to work with Malaysia to 'promote closer economic cooperation among the three parties' and respond to global challenges, Li told Anwar. ASEAN has maintained a policy of neutrality, engaging both Beijing and Washington, but US President Donald Trump's threats of sweeping tariffs came as a blow. Six of the bloc's members were among the worst hit, with tariffs between 32 percent and 49 percent. Trump announced a 90-day pause on tariffs in April for most of the world, and this month struck a similar deal with key rival China, easing trade war tensions. Al Jazeera's Rob McBride, reporting from Kuala Lumpur, said ASEAN members are 'very much looking at building ties with other parts of the world, in particular China, but also the Middle East' to strengthen their economic resilience. 'A measure of the importance that the GCC is also placing on this meeting is the delegation that has been sent here and the seniority of its members,' he added. 'The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, is here, and we have crown princes from Kuwait and also Bahrain. We also have a deputy prime minister from Oman.' Anwar said Monday he had also written to Trump to request an ASEAN-US summit this year, showing 'we observe seriously the spirit of centrality.' However, his Foreign Minister Mohamad Hasan said Washington had not yet has traditionally served as 'a middleman of sorts' between developed economies like the US and China, said Chong Ja Ian from the National University of Singapore (NUS). 'Given the uncertainty and unpredictability associated with economic relations with the United States, ASEAN member states are looking to diversify,' he told the AFP news agency. 'Facilitating exchanges between the Gulf and People's Republic of China is one aspect of this diversification.' Malaysia, which opened the bloc's 46th summit on Monday, is the main force behind the initiative, he said. China, which has suffered the brunt of Trump's tariffs, is also looking to shore up its other markets. Premier Li's participation is 'both timely and calculated', Khoo Ying Hooi from the University of Malaya told AFP. 'China sees an opportunity here to reinforce its image as a reliable economic partner, especially in the face of Western decoupling efforts.' Beijing and Washington engaged in an escalating flurry of tit-for-tat levies until a meeting in Switzerland saw an agreement to slash them for 90 days. Chinese goods still face higher tariffs than most, though.
Al Jazeera
27-05-2025
- Business
- Al Jazeera
ASEAN kicks off summits with China, Gulf states amid US tariff threat
Southeast Asian leaders are set to hold their first ever summit with China and the six-member Gulf Cooperation Council (GCC), as they seek to insulate their trade-dependent economies from the effect of steep tariffs from the United States. The meeting, in the Malaysian capital, Kuala Lumpur, is taking place on Tuesday, on the second day of the annual summit of the 10-member Association of Southeast Asian Nations (ASEAN). It follows separate talks between leaders of the ASEAN and the GCC, which comprises of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Malaysian Prime Minister Anwar Ibrahim, opening the ASEAN-GCC summit, said stronger ties between the two blocs would be key to enhancing interregional collaboration, building resilience and securing sustainable prosperity. 'I believe 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,' Anwar said. Malaysia is the current chair of ASEAN, which also includes Brunei, Cambodia, Laos, Myanmar, the Philippines, Singapore, Thailand and Vietnam. In written remarks before the meetings, Anwar said 'a transition in the geopolitical order is underway' and that 'the global trading system is under further strain, with the recent imposition of US unilateral tariffs.' With protectionism surging, the world is also bearing witness to 'multilateralism breaking apart at the seams', he added. China's Premier Li Qiang, who arrived in Kuala Lumpur on Monday, will join ASEAN and the GCC in their first such meeting on Tuesday. He met with Anwar on Monday and called for expanded trade and investment ties between Beijing, ASEAN and the GCC. 'At a time when unilateralism and protectionism are on the rise and world economic growth is sluggish,' Li said, China, ASEAN and GCC countries 'should strengthen coordination and cooperation and jointly uphold open regionalism and true multilateralism'. China is willing to work with Malaysia to 'promote closer economic cooperation among the three parties' and respond to global challenges, Li told Anwar. ASEAN has maintained a policy of neutrality, engaging both Beijing and Washington, but US President Donald Trump's threats of sweeping tariffs came as a blow. Six of the bloc's members were among the worst hit, with tariffs between 32 percent and 49 percent. Trump announced a 90-day pause on tariffs in April for most of the world, and this month struck a similar deal with key rival China, easing trade war tensions. Al Jazeera's Rob McBride, reporting from Kuala Lumpur, said ASEAN members are 'very much looking at building ties with other parts of the world, in particular China, but also the Middle East' to strengthen their economic resilience. 'A measure of the importance that the GCC is also placing on this meeting is the delegation that has been sent here and the seniority of its members,' he added. 'The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, is here, and we have crown princes from Kuwait and also Bahrain. We also have a deputy prime minister from Oman.' Anwar said Monday he had also written to Trump to request an ASEAN-US summit this year, showing 'we observe seriously the spirit of centrality.' However, his Foreign Minister Mohamad Hasan said Washington had not yet responded. ASEAN has traditionally served as 'a middleman of sorts' between developed economies like the US and China, said Chong Ja Ian from the National University of Singapore (NUS). 'Given the uncertainty and unpredictability associated with economic relations with the United States, ASEAN member states are looking to diversify,' he told the AFP news agency. 'Facilitating exchanges between the Gulf and People's Republic of China is one aspect of this diversification.' Malaysia, which opened the bloc's 46th summit on Monday, is the main force behind the initiative, he said. China, which has suffered the brunt of Trump's tariffs, is also looking to shore up its other markets. Premier Li's participation is 'both timely and calculated', Khoo Ying Hooi from the University of Malaya told AFP. 'China sees an opportunity here to reinforce its image as a reliable economic partner, especially in the face of Western decoupling efforts.' Beijing and Washington engaged in an escalating flurry of tit-for-tat levies until a meeting in Switzerland saw an agreement to slash them for 90 days. Chinese goods still face higher tariffs than most, though.
Al Bawaba
14-05-2025
- Politics
- Al Bawaba
Trump meets Qatari Emir in Doha
ALBAWABA - US President Donald Trump arrived in Qoha and was greeted by Tamim bin Hamad Al Thani, Emir of Qatar, on Wednesday. Trump landed at Hamad International Airport in Doha, with relations between the two countries in the spotlight over the Qatari Royal Family's offer to the US of a $400 million luxury plane to serve as a new Air Force One. عاجل | أمير دولة #قطر للرئيس ترمب: أعلم أنك رجل سلام وتريد إحلال السلام في المنطقة — الجزيرة - عاجل (@AJABreaking) May 14, 2025 President Trump arrived in Saudi Arabia's capital, Riyadh, on May 13, in his first official Middle East visit since being reelected as the president of the US. Trump visited Riyadh on Tuesday, where the Saudi-US Investment Forum is held, and then he will visit Qatar on Wednesday and the UAE on Thursday. Ahead of a larger meeting with GCC leaders and delegations in Riyadh, Trump held a meeting with Syria's interim President Ahmed al-Sharaa, Saudi Crown Prince and Turkish president, who joined the meeting online. Trump called on the Syrian Interim President, Ahmed al-Shraa, to normalize relations with Israel and join the Abraham Accords and asked him to take responsibility for the IS detention centres in the country.
The National
09-05-2025
- Politics
- The National
Gulf-US summit to take place in Riyadh next week
Saudi Arabia's King Salman has invited leaders of the Gulf Co-operation Council to attend a Gulf-US summit in Riyadh during US President Donald Trump's visit to the region next week, according to sources. Mr Trump is scheduled to travel to Saudi Arabia, Qatar and the UAE on the first official foreign trip of his second term. His visit will begin in Riyadh, where he is expected to meet all GCC leaders. He will then travel to Doha and Abu Dhabi for bilateral meetings with Qatari Emir Sheikh Tamim and UAE President Sheikh Mohamed. The trip will 'be dollar-deal-focused', a State Department official told The National. 'We have Saudi, the UAE and potentially Qatar announcements as well.' Major investment agreements, the Gaza war, Abraham Accords and tariffs are expected to dominate the agenda. Mr Trump developed close ties with Gulf states during his first term. His return to the region comes amid efforts to deepen financial co-operation with Gulf states as he seeks their investment in the US and to secure support on regional flashpoints, including ending Israel's war on Gaza and limiting Iran's advancing nuclear programme. Reports emerged earlier that Mr Trump plans to announce that the US will officially refer to the to the sea between the Arabian Peninsula and Iran as the "Arabian Gulf" or "Gulf of Arabia". This move follows his earlier directive to rename the Gulf of Mexico as the "Gulf of America," which has already sparked controversy, both domestically and internationally. The proposal has drawn backlash from Iran. Iranian Foreign Minister Abbas Araghchi criticised the move on social media. The dispute has deep historical roots and is a sensitive issue in the region. Mr Trump then said he would make a final decision about how the US will refer to the body of water during his trip, adding that he does not want to 'hurt anybody's feelings'. While the US military, particularly the Fifth Fleet based in Bahrain, has used the term "Arabian Gulf" to align with the preference of its host nation, the US federal government has traditionally used "Persian Gulf" in official documents. Mr Trump can change the name for official US purposes, but he cannot dictate what the rest of the world calls it. Iran and the US have been engaged in several rounds of nuclear talks, with further negotiations expected to be held in the coming days.
