Kuala Lumpur: On behalf of His Majesty Sultan Haitham bin Tarik, HH Sayyid Asa'ad bin Tariq Al Said, Deputy Prime Minister for International Relations and Cooperation Affairs and Personal Representative of His Majesty the Sultan, led the Sultanate of Oman's delegation at the ASEAN-GCC Summit, which began on Tuesday in the Malaysian capital, Kuala Lumpur.
HH Sayyid Asa'ad was greeted by Malaysian Prime Minister Anwar Ibrahim when he arrived at the summit location.
In his opening statement, the Malaysian Prime Minister underlined that the meeting represents a shared commitment to improving strong links between the two regions, adding that increasing mutual investments indicate rising confidence. He stated that ASEAN-GCC connections will be critical in promoting interregional collaboration, increasing resilience, and guaranteeing long-term prosperity.
He expressed his optimism for fruitful talks that will lead to real initiatives within an expanding and sustainable collaboration.
Sheikh Sabah Khaled Al Hamad Al Sabah, Crown Prince of the State of Kuwait, spoke at his turn, emphasizing that the first ASEANGCC Summit in Riyadh established the groundwork for broad collaboration. He emphasized the importance of capitalizing on this momentum by adopting the Strategic Cooperation Framework (2024-2028), which provides a framework for institutionalizing this cooperation and converting it into tangible mechanisms to achieve mutual success.
He highlighted the relevance of this collaboration, stating that the 16 member states together comprise a huge economic and demographic powerhouse, with a total GDP approaching $6 trillion and a population of approximately 740 million. Their combined marine and trade routes are among the world's most important, giving their cooperation a geopolitical and strategic component that has immediate ramifications for regional stability and global economic growth, he said.
He noted that the Gulf Cooperation Council (GCC) was ASEAN's seventh-largest trading partner in 2023, with total trade amounting for $130. 7 billion—a number predicted to increase by an average of 30%, reaching $180 billion by 2032.
He stated that the number of unexplored possibilities is enormous, and that recent accomplishments indicate that the correct path has been chosen. He also stated that ASEANGCC merchandise trade surpassed $122 billion in 2023, with Gulf investments in Asian nations gradually increasing, demonstrating shared trust and increased economic cooperation. These trends, he said, demonstrate the possibility for continued expansion through incentives-based economic strategies.
He highlighted the need to boost economic, commercial, investment, and technical cooperation, expressing optimism for advances in free trade agreement discussions. Such initiatives, he said, will open up investment possibilities, strengthen regional supply chains, and promote cooperation on energy security and climate change.
The summit will focus on important topics such as boosting ASEAN countries' economic ties and cooperation in security, food, energy, and climate change, as well as promoting technological, educational, and cultural cooperation.
The goal of the meeting is to strengthen strategic collaboration between Gulf Cooperation Council (GCC) and ASEAN nations in the economic, investment, political, and cultural areas, as well as to tackle common challenges faced by all participant countries.
