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Arab Times
25-05-2025
- Business
- Arab Times
GCC marks 44th anniversary, highlights decades of unity and growth
RIYADH, Saudi Arabia, May 25: Gulf Cooperation Council (GCC) Secretary General Jassem Mohammad Al-Budaiwi described the Council's journey as 'an example to be followed in unity, effective integration, and constructive cooperation, making it a pioneering model regionally and internationally.' Speaking during the celebration of the 44th anniversary of the Council's establishment at the GCC Secretariat in Riyadh late Saturday, Al-Budaiwi expressed pride in continuing the path that began on May 25, 1981. He conveyed appreciation for the progress made in joint Gulf cooperation and integration across various fields. 'During our celebration today of the 44th anniversary of the launch of the blessed journey of the GCC,' he said, 'we recall with pride and loyalty the insightful vision of the founding leaders who laid the solid foundation for this great institution, relying on deep fraternal ties, shared destiny, and common history among their peoples.' He affirmed that despite regional and international challenges, the Council's path remains a model of unity and integration, highlighting its growing role across multiple fields. 'The member states have become a model for collective action and a reliable partner regionally and internationally,' he said, noting that strategic vision and balanced policies had drawn the world's attention and supported security, peace, and sustainable prosperity. Al-Budaiwi emphasized the Council's growing diplomatic presence, citing the recent Gulf-European and Gulf-American summits and upcoming summits with ASEAN and China. 'This clearly affirms the Council's status and pivotal role in shaping international relations,' he said. These high-level summits, involving Their Majesties and Highnesses—the leaders of the member states—and their counterparts, along with 15 ministerial meetings with other nations, reflect the GCC's capacity to build balanced East-West partnerships that support mutual interests. 'They also reflect the global appreciation and respect for the GCC countries and the sincere desire from various nations to deepen relations based on mutual trust and strategic interests,' he added. Al-Budaiwi highlighted the GCC's economic advancement, driven by diversification, efficient resource use, and enhanced regional and international standing. He noted the GCC now ranks 11th globally in GDP, reaching USD 2.1 trillion, with a per capita average of USD 36,800—over three times the global average. He forecasted 4.5% economic growth in 2025 and 3.3% in the non-oil sector. He added that the region's financial markets are among the world's top seven, with market value exceeding 4.3% of the total global value. Intra-GCC trade also expanded significantly, with intra-exports valued at USD 131.6 billion—a 67% increase—demonstrating deepening economic integration and ease of goods movement. Cross-border Gulf investment is thriving as well. The total capital of publicly traded companies open to citizens of other member states reached USD 520.4 billion, marking a 226.9% growth, indicating smooth Gulf capital flow and enhanced market access. On sustainable development, Al-Budaiwi said GCC countries have seen major growth in clean energy capacity. They now account for 30% of the Middle East's renewable electricity production and 54.5% of its wind energy output—equivalent to 30% of global wind production. In education, approximately 12,800 Gulf students are enrolled in higher education institutions in other member states, reinforcing academic integration and mutual competence exchange. In the digital economy, he affirmed that GCC countries are among the most prepared globally, with artificial intelligence readiness exceeding the world average. By 2030, AI is expected to contribute 34% of the GCC's GDP. Aligned with digital transformation, the Ministers of Information in GCC states launched a joint application for the Council's news agencies. In addition, the General Secretariat, through the GCC Statistical Center, introduced a smartphone app offering reliable statistical data on development, economy, society, and the environment across the member states. 'These digital initiatives,' he said, 'reflect the scale of ambitious achievements and the comprehensive renaissance experienced by the member states.' He also highlighted two key societal initiatives. The first, Inspiring Gulf Woman, held on International Women's Day, showcased achievements of Gulf women and the Council's empowerment efforts. The second, Gulf Youth Day, aimed to support and encourage young people by displaying their creativity and accomplishments in various fields. Al-Budaiwi reaffirmed that the 44th anniversary of the GCC is a valuable occasion celebrating a journey marked by Gulf achievements and unity. He praised the vision of the founding leaders who laid the foundation for this enduring regional bloc. The ceremony was attended by Riyadh Governor Prince Faisal bin Bandar bin Abdulaziz, Kuwaiti Minister of Information, Culture, and Minister of State for Youth Affairs Abdulrahman Al-Mutairi, ambassadors, diplomatic representatives, and senior officials. He extended his gratitude for the support of the GCC member states to the General Secretariat and acknowledged the leadership of Kuwait as the current presidency holder, along with the efforts of all those involved in organizing the celebration. In closing, Al-Budaiwi prayed for the continuation of security, stability, and prosperity across the GCC and called upon God Almighty to guide the leaders toward greater achievements on the path of joint Gulf action.
Kuwait Times
14-05-2025
- Business
- Kuwait Times
Amir calls for more GCC-US investments
Kuwait leader thanks Saudi leaders, commends Kingdom's pivotal role RIYADH: His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah participated in the Gulf-US Summit held on Wednesday in the Saudi capital, Riyadh, alongside leaders of the Gulf Cooperation Council (GCC), US President Donald Trump and GCC Secretary General Jasem Al-Budaiwi. The high-level summit addressed regional and international developments, underscoring joint efforts to bolster security and stability, advance sustainable development and further reinforce the strategic partnership between the GCC and the United States. In his address to the summit, His Highness the Amir expressed his deep satisfaction with the convening of the gathering, extending his appreciation to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud and Crown Prince and Prime Minister Mohammad Bin Salman Al-Saud for the warm hospitality and exceptional organization of the event. His Highness emphasized Kuwait's firm commitment to strengthening cooperation with the United States, particularly in the economic sphere. He expressed hope that the summit would serve as a pivotal platform to address pressing regional issues and proposed the establishment of a Gulf-American forum for cultural and educational dialogue. Such an initiative, he said, would support joint research, empower youth and promote the values of tolerance, openness and mutual understanding. His Highness also commended the GCC states' support for Kuwait's chairmanship of the Council, noting their unified stance in enhancing Gulf solidarity and deepening the strategic alliance with the United States. 'I extend sincere thanks to President Donald Trump for his continued commitment to engaging with GCC leaders in support of our shared vision for peace, security and prosperity,' he said. Recalling the US-led coalition's historic role in liberating Kuwait in 1990, His Highness affirmed that the enduring partnership between the GCC and the US has evolved into a comprehensive alliance spanning security, economic and development fields. Highlighting investment as a cornerstone of the GCC-US relationship, His Highness called for joint initiatives in smart infrastructure, innovation, entrepreneurship and support for small and medium enterprises. He voiced optimism for expanding Kuwait's investment cooperation with the United States as a key strategic partner. Against the backdrop of ongoing international challenges, His Highness reaffirmed the GCC's united position in safeguarding the region's security and sovereignty, stressing the importance of collective efforts to meet the aspirations of the peoples of the region. On the humanitarian front, His Highness underscored the need for coordinated Gulf-US development aid to ensure sustainable relief for conflict-stricken communities. He reiterated Kuwait's unwavering commitment to humanitarian action and international cooperation. Turning to regional issues, His Highness voiced hope that the summit would mark a new chapter in addressing Middle East challenges, including the Palestinian cause. He reiterated Kuwait's support for a just and comprehensive solution based on international legitimacy and the Arab Peace Initiative, aiming to establish an independent Palestinian state with East Jerusalem as its capital. On Syria, His Highness called for intensified international efforts to uphold the country's unity, sovereignty, and stability. He welcomed the recent decision by President Trump to lift sanctions on Syria as a positive step. He also commended Oman's mediation in securing a ceasefire in Yemen, noting its significance for ensuring maritime security. Addressing broader global conflicts, His Highness the Amir praised US diplomatic efforts aimed at resolving the Russia-Ukraine war and reducing tensions between India and Pakistan. He reaffirmed the GCC's belief in shared responsibility for regional stability, describing the US-Gulf partnership as a vital pillar of that objective. 'We look forward to this summit being a step toward building a more stable, balanced, and integrated regional order based on international law, mutual respect, and shared interests,' His Highness said in conclusion, expressing gratitude to Saudi Arabia and President Trump for their key roles in the summit's success. Following the summit, His Highness the Amir sent a cable of thanks to King Salman, commending the Kingdom's pivotal regional and international role and the deep-rooted relations between the two nations. He also sent a similar message to Crown Prince Mohammad Bin Salman, lauding Saudi Arabia's efforts in hosting the event and expressing hope that the summit's outcomes would advance mutual cooperation. Upon his departure, His Highness the Amir and the accompanying delegation were seen off in Riyadh with official honors and were received upon arrival in Kuwait by His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, Acting Prime Minister Sheikh Fahad Yousef Saud Al-Sabah, and senior officials. His Highness was accompanied by Minister of Defense and Acting Minister of Interior Sheikh Abdullah Ali Al-Sabah, Minister of Foreign Affairs Abdullah Al-Yahya and senior members of the official delegation. — KUNA
