Latest news with #SecondASEAN-GCCSummit
The Sun
27-05-2025
- Business
- The Sun
ASEAN-GCC strengthen strategic ties, aim for US$180 bln trade by 2032
KUALA LUMPUR: Leaders from the Gulf Cooperation Council (GCC) have agreed to strengthen their broad strategic partnership with the Association of Southeast Asian Nations (ASEAN) to confront global challenges and seize shared economic opportunities. Kuwait's Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah said the GCC is now ASEAN's seventh-largest trading partner, with total trade reaching US$130.7 billion in 2023. 'We aim to increase this figure to US$180 billion by 2032, as there remains substantial untapped potential in bilateral trade and investment,' he said. The Crown Prince, who is also the President of the current session of the Supreme Council of the GCC, made the remarks during the Second ASEAN-GCC Summit held at the Kuala Lumpur Convention Centre today. He also noted the encouraging rise in foreign investment into Asian markets as a sign of confidence and sustainable economic integration. 'We would like to underscore the importance of continuing cooperation in the fields of economy, trade, investment and the arts, and we look forward to the positive outcomes of free trade agreement negotiations between both sides, which will open up investment opportunities and support regional development,' His Highness added. He said this year's summit played a crucial role in enhancing cooperation between the two regions. 'This session has inspired us to further strengthen bilateral cooperation and reflects the deep historical ties between both parties. 'It also demonstrates our shared commitment to building a strategic partnership founded on mutual interests, the principles of international law, and sustainable development for our people,' he added. The first ASEAN-GCC Summit, held on October 20, 2023, in Riyadh, marked a significant start in establishing a comprehensive cooperation framework for the 2024–2028 period, aimed at laying a solid foundation for rapid development through this partnership. On the issue of Palestine, the Crown Prince called for continuous collaboration between the GCC and ASEAN to resolve the humanitarian crisis in Gaza and the worsening Palestinian-Israeli conflict. 'The GCC reaffirms its support for the establishment of an independent Palestinian state based on the 1967 borders, with East Jerusalem as its capital. 'We urge the international community to act swiftly and decisively to end the violence and initiate a peace process grounded in international law and the Arab Peace Initiative,' he said. He also proposed that the year 2026 be declared the GCC-ASEAN Year of Cultural Solidarity, with a variety of programmes to enhance bilateral ties, along with joint initiatives to empower youth and women through training, skills development, and entrepreneurship projects. Founded in 1981 and headquartered in Riyadh, the GCC comprises six member states: Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates (UAE).
The Sun
27-05-2025
- Business
- The Sun
ASEAN-GCC aim for US$180 bln trade by 2032
KUALA LUMPUR: Leaders from the Gulf Cooperation Council (GCC) have agreed to strengthen their broad strategic partnership with the Association of Southeast Asian Nations (ASEAN) to confront global challenges and seize shared economic opportunities. Kuwait's Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah said the GCC is now ASEAN's seventh-largest trading partner, with total trade reaching US$130.7 billion in 2023. 'We aim to increase this figure to US$180 billion by 2032, as there remains substantial untapped potential in bilateral trade and investment,' he said. The Crown Prince, who is also the President of the current session of the Supreme Council of the GCC, made the remarks during the Second ASEAN-GCC Summit held at the Kuala Lumpur Convention Centre today. He also noted the encouraging rise in foreign investment into Asian markets as a sign of confidence and sustainable economic integration. 'We would like to underscore the importance of continuing cooperation in the fields of economy, trade, investment and the arts, and we look forward to the positive outcomes of free trade agreement negotiations between both sides, which will open up investment opportunities and support regional development,' His Highness added. He said this year's summit played a crucial role in enhancing cooperation between the two regions. 'This session has inspired us to further strengthen bilateral cooperation and reflects the deep historical ties between both parties. 'It also demonstrates our shared commitment to building a strategic partnership founded on mutual interests, the principles of international law, and sustainable development for our people,' he added. The first ASEAN-GCC Summit, held on October 20, 2023, in Riyadh, marked a significant start in establishing a comprehensive cooperation framework for the 2024–2028 period, aimed at laying a solid foundation for rapid development through this partnership. On the issue of Palestine, the Crown Prince called for continuous collaboration between the GCC and ASEAN to resolve the humanitarian crisis in Gaza and the worsening Palestinian-Israeli conflict. 'The GCC reaffirms its support for the establishment of an independent Palestinian state based on the 1967 borders, with East Jerusalem as its capital. 'We urge the international community to act swiftly and decisively to end the violence and initiate a peace process grounded in international law and the Arab Peace Initiative,' he said. He also proposed that the year 2026 be declared the GCC-ASEAN Year of Cultural Solidarity, with a variety of programmes to enhance bilateral ties, along with joint initiatives to empower youth and women through training, skills development, and entrepreneurship projects. Founded in 1981 and headquartered in Riyadh, the GCC comprises six member states: Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates (UAE).
The Sun
27-05-2025
- Business
- The Sun
Growing ties, investment between ASEAN and GCC pivotal for long-term prospects
KUALA LUMPUR: Growing investment and ties between Southeast Asia's 10-member bloc and the oil-rich Gulf Cooperation Council (GCC) countries reflect increasing confidence in the long-term prospects of the partnership between both groupings, Prime Minister Datuk Seri Anwar Ibrahim said today. In his opening remarks, the Prime Minister said the ASEAN-GCC Framework of Cooperation 2024–2028, adopted at the inaugural Summit in 2023, provides a blueprint to deepen collaboration across all three pillars of cooperation and that the momentum is encouraging. 'In 2023, the GCC was ASEAN's seventh largest trading partner, with total trade reaching US$130.7 billion. Investment is also growing, reflecting increasing confidence in the long-term prospects of our partnership,' he said at the Second ASEAN-GCC Summit here today. Anwar believes that 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.' A stronger ASEAN-GCC relationship will be key to enhancing interregional collaboration, building resilience, and securing sustainable prosperity for the peoples. 'Today's deliberations will be crucial in ensuring that our partnership remains dynamic, responsive, and impactful. Let us use today's summit to reaffirm our collective ambition and translate our shared vision into concrete and impactful cooperation,' he said. Among the ASEAN leaders at the events are the Sultan of Brunei, Sultan Hassanal Bolkiah; Indonesia's President Prabowo Subianto; Cambodia's Prime Minister Hun Manet; Laos' Prime Minister Sonexay Siphandone; Vietnam's Prime Minister Pham Minh Chinh; Philippine President Ferdinand Marcos Jr.; Singapore's Prime Minister Lawrence Wong; and Thailand's Prime Minister Paetongtarn Shinawatra. Also present at the summit are Timor-Leste's Prime Minister Kay Rala Xanana Gusmao as Observer, and ASEAN secretary-general Dr Kao Kim Hourn. GCC delegates at the summit include the Emir of Qatar Sheikh Tamim bin Hamad Al Thani, Bahrain's Crown Prince and Prime Minister Salman Hamad Al Khalifa, and Kuwaiti Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah. Oman's Deputy Prime Minister Sayyid Asaad bin Tarik al Said, Saudi Arabia's Foreign Minister Prince Faisal Farhan Al Saud and UAE Supreme Council Member and Ruler of Ras Al Khaimah Sheikh Saud bin Saqr Al Qasimi are also in attendance.
Malaysian Reserve
25-05-2025
- Business
- Malaysian Reserve
Vietnam PM Chinh accorded formal welcome on first official visit to Malaysia
VIETNAMESE Prime Minister Pham Minh Chinh, who is on his first official visit to Malaysia, was accorded a formal welcome at the Perdana Putra Complex today. Prime Minister Datuk Seri Anwar Ibrahim received his Vietnamese counterpart upon arrival at 2.30 pm, followed by the playing of both national anthems. Chinh then inspected a guard of honour mounted by three officers and 103 personnel from the First Battalion of the Royal Ranger Regiment (Ceremonial), led by Major Mohamad Waqiyudin Abd Rahman. Also in attendance were Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said; Science, Technology and Innovation Minister Chang Lih Kang; Health Minister Datuk Seri Dr Dzulkefly Ahmad, foreign diplomats and senior government officials. Chinh is accompanied by his spouse, Le Thi Bich Tran, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son, as well as several cabinet ministers and senior Vietnamese officials. Chinh assumed office in April 2021. His visit comes ahead of the 46th ASEAN Summit, Second ASEAN-GCC Summit and ASEAN-China-GCC Summit, all scheduled to take place in Kuala Lumpur on May 26 and 27. Following the welcome ceremony, Chinh and Prime Minister Datuk Seri Anwar Ibrahim held a bilateral meeting to review the progress of Malaysia-Vietnam relations, which were elevated to a Comprehensive Strategic Partnership in November 2024. Wisma Putra, in a statement, said discussions centred on key sectors such as trade and investment, defence and security, agriculture, the halal industry, renewable energy, tourism, and digital technology. The two leaders also exchanged views on regional and global developments, reaffirming ASEAN's role as a cohesive and responsive platform in navigating shared challenges amid evolving geopolitical and geoeconomic landscapes. In 2024, Vietnam was Malaysia's 11th largest trading partner globally and fourth largest within ASEAN. Bilateral trade totalled RM83.11 billion, comprising RM53.86 billion in exports and RM29.25 billion in imports. Malaysian companies have undertaken more than 700 projects in Vietnam, with cumulative investments exceeding USD13 billion (RM55 billion). A joint press conference will follow the meeting, after which Anwar will host an official luncheon at Seri Perdana in honour of his Vietnamese counterpart. — BERNAMA
Barnama
25-05-2025
- Business
- Barnama
Vietnam PM Chinh Accorded Formal Welcome On First Official Visit To Malaysia
GENERAL Prime Minister Datuk Seri Anwar Ibrahim (right) with his Vietnamese counterpart, Pham Minh Chinh (left) at the Perdana Putra Complex today. --fotoBERNAMA (2025) COPYRIGHT RESERVED PUTRAJAYA, May 25 (Bernama) -- Vietnamese Prime Minister Pham Minh Chinh, who is on his first official visit to Malaysia, was accorded a formal welcome at the Perdana Putra Complex today. Prime Minister Datuk Seri Anwar Ibrahim received his Vietnamese counterpart upon arrival at 2.30 pm, followed by the playing of both national anthems. Chinh then inspected a guard of honour mounted by three officers and 103 personnel from the First Battalion of the Royal Ranger Regiment (Ceremonial), led by Major Mohamad Waqiyudin Abd Rahman. Also in attendance were Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said; Science, Technology and Innovation Minister Chang Lih Kang; Health Minister Datuk Seri Dr Dzulkefly Ahmad, foreign diplomats and senior government officials. Chinh is accompanied by his spouse, Le Thi Bich Tran, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son, as well as several cabinet ministers and senior Vietnamese officials. Chinh assumed office in April 2021. His visit comes ahead of the 46th ASEAN Summit, Second ASEAN-GCC Summit and ASEAN-China-GCC Summit, all scheduled to take place in Kuala Lumpur on May 26 and 27. Following the welcome ceremony, Chinh and Prime Minister Datuk Seri Anwar Ibrahim held a bilateral meeting to review the progress of Malaysia-Vietnam relations, which were elevated to a Comprehensive Strategic Partnership in November 2024. Wisma Putra, in a statement, said discussions centred on key sectors such as trade and investment, defence and security, agriculture, the halal industry, renewable energy, tourism, and digital technology. The two leaders also exchanged views on regional and global developments, reaffirming ASEAN's role as a cohesive and responsive platform in navigating shared challenges amid evolving geopolitical and geoeconomic landscapes.
