Saudi Arabia hosts historic GCC-ASEAN summit to strengthen ties on Friday

by ADeeL

Saudi Gazette report

RIYADH — Leaders from Southeast Asia have begun arriving within the Saudi capital for the inaugural Affiliation of Southeast Asian Nations-Gulf Cooperation Council Summit scheduled for Friday.

The summit is anticipated to conclude with the issuance of a joint assertion outlining the outcomes and cooperation plans for the interval from 2024 to 2028. For Southeast Asian leaders, the assembly presents a singular alternative to discover collaboration with Gulf states, significantly on issues associated to power safety.

The Gulf Cooperation Council (GCC), composed of Saudi Arabia, Oman, Qatar, Bahrain, Kuwait, and the UAE, will interact with the ASEAN bloc, consisting of Indonesia, Malaysia, Singapore, Thailand, Vietnam, Brunei Darussalam, Cambodia, Laos, Myanmar, and the Philippines.

The GCC-ASEAN relationship is rooted in shared bonds, together with strategic places, financial progress, worldwide funding partnerships, cultural improvement, and a dedication to worldwide peace and stability. The historical past of those relations dates again to March 1986, marked by the initiation of contacts and financial dialogues.

The importance of this relationship lies in joint efforts to advertise peace, prosperity, and the well-being of their peoples. Ministerial conferences, strategic dialogues, and the signing of memoranda of understanding have characterised the journey of cooperation between the GCC and ASEAN.

The upcoming summit follows the preparatory assembly held in Riyadh in August, the place discussions centered on strengthening relations and enhancing cooperation.

The commerce quantity between the GCC and ASEAN reached $93.9 billion in 2019, demonstrating the financial synergy between the areas. Petroleum merchandise, plastic derivatives, and treasured metals represent important parts of this commerce.

The summit goals to raise coordination on mutual pursuits, activate regional and world strategic partnerships, and profit the residents of the GCC international locations and the broader area. It marks the primary leadership-level GCC-ASEAN Summit and displays the dedication of GCC international locations, led by Saudi Arabia, to determine partnerships with influential worldwide blocs. The framework for joint cooperation for the subsequent 5 years, protecting political, safety, financial, and funding cooperation, is anticipated to be adopted in the course of the summit.

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