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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.
Arab News
22-03-2025
- Business
- Arab News
Europe turns to the Gulf to strengthen energy, security ties
The relationship between the Middle East and Europe has been shaped by centuries of cultural, political, and economic interaction. Today, energy security and geopolitics, in particular, have become even bigger drivers of the important bilateral relationship. Only last week, Jasem Al-Budaiwi, the Gulf Cooperation Council secretary-general, spoke with EU Commissioner for the Mediterranean Dubravka Suica about a proposed new Gulf-European conference on energy security. This happened in a meeting on the sidelines of the Brussels Ninth Conference on Syria, which focused on helping ensure the success of the post-Assad transition. On the geopolitical front, too, key European nations, including France, Germany, Italy, and the UK, are engaging in the Arab plan to rebuild Gaza. These nations are among the key proponents of a renewed ceasefire leading to a sustainable, fair plan for peace. Europe is concerned by how much political instability has grown in the Middle East in recent times, with the conflict in Gaza spreading to other areas, including Lebanon. While economic relations with Europe have been largely unaffected so far, this will not inevitably be the case in the future. These discussions build from recent EU-Arab summits, organized in cooperation with the Arab League and European Parliament, to identify and promote common interests and values collectively — specifically, singling out key priority areas for cooperation, taking into account regional and global challenges. Yet, it is the GCC economic agenda that is perhaps the most prominent in the Europe-Middle East dialogue at present. Not only is a Gulf-European conference on energy security being explored, there is also new impetus for a GCC-EU trade agreement to be agreed during Ursula von der Leyen's second term as European Commission president in the period till late 2029. This is a key part of the EU's plans to engage key emerging market powers much more, following the election of Donald Trump to the US presidency, and also Russia's invasion of Ukraine. In recent weeks, von der Leyen has agreed a trade deal with the Mercosur bloc, including Brazil and Argentina, in South America; kick-started trade talks in India; and visited South Africa, the host of this year's G20 summit. The GCC, with its headquarters in Riyadh, is another top economic target. The bloc — Saudi Arabia, the UAE, Bahrain, Oman, Qatar, and Kuwait — is a major source of global economic activity with total economic output of around $2 trillion in 2022. According to the World Bank, if the GCC continues to grow at a 'business as usual' rate, combined GDP will grow to a projected $6 trillion by 2050. One of the big prizes for the EU of a GCC deal could be further, open access to investment from Gulf sovereign wealth funds. These tend to be cross-sector investors that often take a long-term, multi-decade economic perspective. Energy security and geopolitics are likely to remain at the heart of current Europe-GCC dialogues. Andrew Hammond The EU is the second-largest trade partner for the GCC countries, generating €170 billion ($185 billion) in trade in 2023. Much of this exchange is related to natural resources. In 2023, imports of mineral fuels accounted for over 75 percent of EU imports from GCC countries. Moreover, since 2020, fuel imports have more than tripled, in large part due to a sharp shift in the EU's supply sources caused by Russia's invasion. According to the European Council on Foreign Relations think tank, of more than 180 new energy agreements agreed by the EU since the Ukraine war began, the GCC is the region that has signed the largest number of deals. Well over one-fifth of such agreements have been inked with the UAE (24 deals) leading the way, alongside Qatar (11), Saudi Arabia (four), Oman (two), and Bahrain (one). At present, EU-GCC relations are based on a cooperation agreement signed in 1989 that established regular dialogue on topics including economic relations, climate change, energy, and the environment. However, the EU would like a trade deal and, in 2022, Luigi Di Maio, the former Italian foreign affairs minister, was appointed as the first ever EU Special Representative for the Gulf to try to develop a stronger, comprehensive, and more strategic partnership. In 2023, the EU ramped up efforts to try to revitalize EU-GCC negotiations for a trade agreement. The GCC has signed relatively few such agreements to date, including a pact with South Korea in 2023, more than 15 years after talks began. The GCC also entered into trade talks with the UK in 2022, and Prime Minister Keir Starmer visited Saudi Arabia and the UAE last December. Total bilateral trade is worth about £59 billion, making the GCC bloc as a whole equivalent to the UK's fourth-largest non-EU export market behind the US, China, and Switzerland. It is possible that wider developments could reinforce this dynamic of closer GCC-Europe economic cooperation. This includes potential steps toward implementation of a proposed India-Middle East-Europe corridor to foster connectivity and integration with Asia via a proposed route from India through the UAE, Saudi Arabia and into Greece. The corridor concept, which would comprise vast road, railroad, and shipping networks, was given new impetus in September 2023 at the G20 summit in New Delhi. A memorandum of understanding was signed to try to develop the project by the governments of India, the US, UAE, Saudi Arabia, France, Germany, Italy, and the 27-member EU bloc. Taken together, energy security and geopolitics are likely to remain at the heart of current Europe-GCC dialogues. These would be boosted significantly if trade deals are agreed in the second half of the 2020s with the Starmer and von der Leyen administrations.
Zawya
18-03-2025
- Business
- Zawya
GCC Chief discusses energy security with EU official
BURSSELS: Secretary-General for the Gulf Cooperation Council (GCC), Jassem Al-Budaiwi, discussed on Monday with the European Union Commissioner for the Mediterranean, Dubravka Suica the proposal to establish a Gulf-European conference on energy security. This came in a meeting on the sidelines of Al-Budaiwi's participation in the Brussels Ninth Conference on Syria, said the General Secretariat of the GCC. During the meeting, they discussed a number of issues, including the free trade agreement between the GCC and the European Union, a Gulf-European conference on energy security, as well as various regional and international matters. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Leaders
18-03-2025
- Business
- Leaders
GCC Sec-Gen Holds Talks with European Parliament Foreign Affairs Committee Vice-Chair
Jasem Albudaiwi, Secretary-General of the Gulf Cooperation Council (GCC), met today with Hana Jalloul, Vice-Chair of the European Parliament's Committee on Foreign Affairs. The meeting focused on enhancing Gulf-European relations and exploring avenues to strengthen bilateral cooperation in alignment with shared interests. Key topics of discussion included the progress on exempting GCC citizens from the Schengen visa requirement, as well as the outcomes of the inaugural European-Gulf Summit held in Brussels in October 2024. Both sides also exchanged perspectives on recent regional and international developments, particularly the escalating humanitarian crisis in the Gaza Strip due to ongoing violations by Israeli occupation forces against the Palestinian people. In closing, Albudaiwi commended European efforts to ease certain sanctions on the Syrian Arab Republic, emphasizing that such measures would contribute to fostering stability and development for the Syrian people. Related Topics : GCC 163rd Ministerial Meeting Condemns Israel's Gaza Aid Blockade, Reiterates Support for Syrians GAFT Leads Saudi Delegation in GCC-Indonesia Free Trade Agreement Negotiations Architecture Characters Map: 19 Styles Celebrate Saudi Architectural Heritage Royal Saudi Air Force Participates in Red Flag 25-2 Exercise in US Short link : Post Views: 30 Related Stories
Asharq Al-Awsat
05-02-2025
- Politics
- Asharq Al-Awsat
GCC Sec-Gen Underscores Importance of Boosting GCC-European Security Cooperation
Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi pointed out that the high-level participation from both the GCC and European representatives at the first meeting of the Gulf-European criminal investigations general directors underscores the importance both sides place on strengthening security cooperation and their commitment to enhancing their security systems and exchanging expertise. Speaking at the meeting, Albudaiwi said that this meeting implements the decisions of the GCC ministers of interior, which call for intensifying the GCC's collaboration with regional and international groups and organizations to enhance the GCC security ecosystem. He also expressed hope that the meeting would lead to the development of joint initiatives and projects aimed at combating crime and reducing its impact in both the Gulf region and Europe, SPA reported. He emphasized the key points outlined in the joint closing statement of the first GCC-European summit, held in Brussels on October 16, 2024, under the theme "Strategic partnership for peace and prosperity." The summit highlighted the importance of strengthening the strategic partnership between the European Union and the GCC, reinforcing their growing political ties, and collaborating to tackle challenges that threaten regional and global peace, security, and stability. Albudaiwi also highlighted several joint achievements between the GCC and European sides, including the launch of the regional security dialogue, the establishment of the high-level ministerial forum, and the signing of a letter of intent. He emphasized the focus on developing joint action plans for 2025-2027. Key areas of cooperation include enhancing information exchange mechanisms, designing strategies to combat transnational organized crime, and building capacities through joint training programs.
