PM Anwar: Landmark ASEAN-GCC-China Summit Poised to Unlock US$25 Trillion in Economic Collaboration
Kuala Lumpur, May 27 – Prime Minister Datuk Seri Anwar Ibrahim has lauded the historic inaugural ASEAN-Gulf Cooperation Council (GCC)-China Summit as a pivotal opportunity to unlock an estimated US$25 trillion in economic collaboration. Speaking at the summit today, Anwar emphasized the immense potential for growth and prosperity that this partnership holds for the region and beyond.
The summit, held in Riyadh, Saudi Arabia, brings together leaders from ASEAN member states, the GCC, and China, marking a significant step in strengthening economic ties and fostering strategic partnerships. The sheer scale of the potential collaboration—US$25 trillion—highlights the ambition and importance of this new platform for economic engagement.
“This summit represents a monumental opportunity for ASEAN, the GCC, and China to forge a new era of collaboration and mutual benefit,” stated Prime Minister Anwar. “The combined economic strength of these regions is formidable, and we are confident that this partnership will drive significant growth and create countless opportunities for businesses and individuals alike.”
Key Focus Areas for Collaboration:
- Trade and Investment: The summit aims to streamline trade processes, reduce barriers, and encourage greater investment flows between the regions. Discussions centered on exploring new trade agreements and promoting sustainable investment practices.
- Digital Economy: Recognizing the transformative power of technology, the leaders explored collaborations in areas such as e-commerce, fintech, and digital infrastructure development.
- Green Transition: With a shared commitment to sustainability, the summit addressed opportunities for collaboration in renewable energy, green technology, and climate change mitigation. Malaysia, in particular, highlighted its commitment to becoming a regional leader in green initiatives.
- Supply Chain Resilience: The summit also focused on strengthening supply chain resilience, particularly in critical sectors, to mitigate disruptions and ensure economic stability.
Malaysia's Role and Benefits:
Prime Minister Anwar underscored Malaysia's commitment to actively participating in and benefiting from this new partnership. He highlighted Malaysia's strategic location, robust infrastructure, and skilled workforce as key advantages for attracting investment and facilitating trade. He also emphasized the potential for Malaysian businesses to expand their reach into new markets within the GCC and China.
“Malaysia is eager to play a leading role in this collaboration,” Anwar affirmed. “We are committed to creating a conducive environment for investment and fostering strong partnerships that will drive economic growth and create jobs for our people.”
Looking Ahead:
The inaugural ASEAN-GCC-China Summit is expected to pave the way for a series of follow-up meetings and initiatives aimed at translating the summit's commitments into tangible outcomes. The success of this collaboration will depend on the willingness of all parties to work together, address challenges, and seize the opportunities that lie ahead. The potential for US$25 trillion in economic collaboration is a powerful incentive to build a strong and enduring partnership.
The summit's outcome is being widely viewed as a significant geopolitical development, demonstrating the growing importance of the Asia-Middle East-China nexus in the global economy.