ASEAN, GCC push to boost economic ties

ASEAN Summit 2025 – 2nd ASEAN-GCC Summit opening. (Photo: Bongbong Marcos/Facebook)

By Anadolu, Philippine News Agency

ISTANBUL – The Association of Southeast Asian Nations (ASEAN) and Gulf Cooperation Council (GCC) agreed on Tuesday to boost bilateral ties during their 2nd summit, hosted in Malaysia’s capital Kuala Lumpur.

GCC leaders agreed to keep furthering strategic partnership with ASEAN against global challenges and attain common economic opportunities, according to Malaysia’s state-run Bernama news agency.

“We want to raise this figure to USD180 billion by 2032 because there is huge potential that has yet to be explored in bilateral trade and investment,” Kuwait’s Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah said, while referring to the total trade volume amounting to USD130.7 billion between the two parties in 2024.

Malaysian Premier Anwar Ibrahim, in his opening remarks for the summit, “expressed appreciation for the presence of all leaders, a strong signal of their shared resolve to strengthen ASEAN-GCC cooperation and to explore broader, forward-looking partnerships for the benefit of their peoples,” according to his Facebook post.

The ASEAN-GCC Framework of Cooperation 2024-2028, adopted during the inaugural summit in Riyadh in 2023, “serves as our strategic roadmap to advance collaboration across political and security, economic and socio-cultural pillars,” Anwar said.

Malaysia, as the rotating chair of the ASEAN, hosted the summit after the regional bloc met for its two-day summit in Kuala Lumpur.

ASEAN Secretary-General Kao Kim Hourn and leaders from the association –Sultan of Brunei Hassanal Bolkiah, Indonesia’s President Prabowo Subianto, Cambodia’s Prime Minister Hun Manet, Laos Prime Minister Sonexay Siphandone, Vietnamese Prime Minister Pham Minh Chinh, Philippine President Ferdinand Marcos Jr., Singapore Prime Minister Lawrence Wong, and Thailand Prime Minister Paetongtarn Shinawatra –all attended the summit, according to Bernama.

Timor-Leste’s Prime Minister Kay Rala Xanana Gusmao took part as an observer.

Officials from the GCC, including Qatari Emir Sheikh Tamim bin Hamad Al Thani, Bahrain’s Crown Prince and Prime Minister Salman bin Hamad Al Khalifa, and Kuwait’s Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah attended the summit.

Oman’s Deputy Prime Minister Sayyid Asaad bin Tarik al Said, Saudi Arabia’s Foreign Minister Prince Faisal Farhan, and UAE Supreme Council member and Ruler of the city of Ras Al Khaimah Sheikh Saud bin Saqr Al Qasimi also participated.