Growing ASEAN-GCC Investment: Anwar Urges Joint Efforts for Sustainable Prosperity

Prime Minister Datuk Seri Anwar highlighted the growing investment and ties between the ten ASEAN member countries and the oil-rich member countries of the Gulf Cooperation Council (GCC), reflecting increasing confidence in the long-term prospects of their cooperation.

In his opening speech at the 2nd ASEAN-GCC Summit, he said the cooperation framework for 2024 to 2028, passed during the first summit in 2023, provides a blueprint for cooperation in three main pillars of partnership, and the current momentum is encouraging.

“In 2023, the GCC became ASEAN's seventh-largest trading partner, with total bilateral trade amounting to $130.7 billion. Investment is also on the rise, reflecting increased confidence in the long-term prospects of our partnership.”

He stated that amidst the increasingly complex global situation filled with economic uncertainties and geopolitical challenges, he believes that the ASEAN-GCC partnership is more significant than ever.

“A stronger ASEAN-GCC relationship is crucial for enhancing interregional cooperation, building resilience, and ensuring sustainable prosperity for the people of our countries.”

“Let us use today's summit to reaffirm our shared aspirations and translate our common vision into concrete and impactful cooperation.”

ASEAN leaders attending the summit include Brunei's Sultan Bolkiah, Indonesian President Prabowo, Cambodian Prime Minister Hun Manet, Laos Prime Minister Sonexay Siphandone, Vietnamese Prime Minister Pham Minh Chinh, Philippine President Bongbong Marcos, Singapore Prime Minister Lawrence Wong, and Thailand Prime Minister Prawit Wongsuwon.

East Timor's Prime Minister Xanana attended as an observer, while ASEAN Secretary-General Dr. Kao Kim Hourn was also present.

GCC leaders in attendance include Emir of Qatar Sheikh Tamim, Bahrain's Crown Prince and Prime Minister Salman, Kuwait's Crown Prince Sheikh Mishal, Oman's Deputy Prime Minister Assad, Saudi Foreign Minister Prince Faisal, and UAE's Supreme Council member and Ruler of Ras Al Khaimah Sheikh Saud bin Saqr Al Qasimi.

Anwar described the second ASEAN-GCC Summit in the Southeast Asian context as a remarkable event and an extraordinary milestone in regional diplomacy, aiming to further deepen the political, economic, and strategic relations between the two regions.

He emphasized that the gathering of ASEAN leaders and representatives from the most dynamic GCC countries is a powerful testament to the growing mutual trust and friendship between the two major regional organizations.

“From our experience in the region, this is quite extraordinary, not only to bring ASEAN leaders here but also to bring the most dynamic GCC countries to this region... to cooperate together, based on trust, cooperation, and genuine friendship.”