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Kuwait Times
28-05-2025
- Business
- Kuwait Times
Deeper ASEAN, GCC, China ties eyed
Deeper ASEAN, GCC, China ties eyed Crown Prince addresses two key summits, highlights collaboration, global issues KUALA LUMPUR: Representing HH the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, HH the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah delivered keynote addresses during the ASEAN-GCC Summit and the ASEAN-GCC-China Summit held in Kuala Lumpur on Tuesday, underscoring Kuwait's commitment to multilateral collaboration amid mounting global challenges. At the second ASEAN-GCC Summit, HH the Crown Prince stressed the strategic importance of deepening cooperation between the two regional blocs. Kuwait serves as the current chair of the GCC. He highlighted the success of the 2023 Riyadh summit and reaffirmed commitment to the 2024–2028 Strategic Cooperation Framework, which lays out actionable goals in energy, digital transformation, food security and cultural exchange. He proposed naming 2026 the 'Year of Cultural Convergence' and called for enhanced collaboration in youth empowerment, women's entrepreneurship and infrastructure development. At the first-ever ASEAN-GCC-China Trilateral Summit, co-chaired by Malaysian Prime Minister Anwar Ibrahim and Chinese Premier Li Qiang, HH the Crown Prince described the gathering as a 'gateway to a new dynamic phase' of trilateral partnership. He highlighted growing trade volumes — GCC-China trade reached $298 billion in 2023, while GCC-ASEAN trade hit $122 billion — and called for the finalization of free trade agreements with China and ASEAN. He outlined five pillars for trilateral cooperation, including innovation, digital economy and sustainable development, and emphasized the importance of joint frameworks like the China-GCC Joint Action Plan (2023–2027). In both speeches, HH the Crown Prince addressed ongoing regional crises, reiterating unwavering GCC support for the Palestinian cause and expressing concern over the humanitarian situation in Gaza. He also welcomed positive developments in Syria and stressed the importance of restoring sovereignty and stability. Concluding both addresses, HH the Crown Prince called for concrete mechanisms to implement summit outcomes and extended an invitation to ASEAN countries to participate in Expo 2030 Riyadh as a platform for global cooperation and exchange. During his visit, HH Sheikh Sabah also attended a luncheon hosted by Malaysia's King Sultan Ibrahim Iskandar for participating delegations. — KUNA
Observer
27-05-2025
- Business
- Observer
Sayyid Asaad leads Oman's delegation at ASEAN-GCC Summit
KUALA LUMPUR: On behalf of His Majesty Sultan Haitham bin Tarik, HH Sayyid Asaad bin Tarik al Said, Deputy Prime Minister for International Relations and Cooperation Affairs, Personal Representative of His Majesty the Sultan, headed the Sultanate of Oman's delegation at the ASEAN-GCC Summit, which commenced on Tuesday in the Malaysian capital, Kuala Lumpur. Upon his arrival at the summit venue, HH Sayyid Asaad was received by Malaysian Prime Minister Anwar Ibrahim. In his opening remarks, the Malaysian Prime Minister emphasised that the summit reflects a shared commitment to strengthening the robust ties between the two blocs, noting that growing mutual investments demonstrate deepening trust. He stated that ASEAN-GCC relations will be pivotal in fostering interregional cooperation, building resilience, and ensuring sustainable prosperity. He expressed hope for productive discussions that pave the way for tangible initiatives within an expanding and sustainable partnership. Sayyid Asaad leads Oman's delegation at ASEAN-GCC Summit On his turn, Shaikh Sabah Khaled al Hamad al Sabah, Crown Prince of the State of Kuwait, delivered a speech highlighting that the inaugural ASEAN-GCC Summit in Al Riyadh successfully laid the foundation for comprehensive cooperation. He stressed the need to build on this momentum by implementing the Strategic Cooperation Framework (2024-2028), which serves as a road map for institutionalising this partnership and translating it into practical mechanisms to achieve shared progress. He underscored the significance of this partnership, noting that the 16 member states collectively represent a massive economic and demographic force, with a combined GDP nearing $6 trillion and a population of around 740 million. Their shared maritime and trade routes rank among the most vital globally, lending their cooperation a geopolitical and strategic dimension with direct implications for regional stability and global economic growth, he added. He pointed out that the GCC was ASEAN's seventh-largest trading partner in 2023, with total trade reaching $130.7 billion—a figure expected to grow by an average of 30%, reaching $180 billion by 2032. Sayyid Asaad leads Oman's delegation at ASEAN-GCC Summit He explained that the volume of untapped opportunities remains vast, with current achievements affirming the right trajectory. He further added that the ASEAN-GCC merchandise trade exceeded $122 billion in 2023, alongside steadily rising Gulf investments in Asian markets, reflecting mutual confidence and deepening economic integration. These trends, he noted, highlight the potential for further growth through incentivised economic policies. He emphasised the importance of advancing economic, trade, investment and technical cooperation, expressing optimism for progress in free trade agreement negotiations. Such efforts, he added, would unlock investment opportunities, bolster regional supply chains and enhance collaboration in energy security and climate change. The summit addresses key topics, including strengthening ASEAN-GCC economic partnerships and cooperation in security, food, energy and climate change, alongside advancing technical, educational and cultural collaboration. The event aims to deepen strategic cooperation between GCC and ASEAN nations across economic, investment, political and cultural spheres while addressing issues of mutual interest to all participating states. — ONA
