Anwar eyes greater economic synergy between ASEAN, GCC and China

by AUFA MARDHIAH

ASEAN is calling for deeper cross-regional trade and investment with the Gulf Cooperation Council (GCC) and China, highlighting their combined economic strength and untapped potential for growth.

Chairing the ASEAN- GCC- China Summit today, Prime Minister Datuk Seri Anwar Ibrahim said the three regions together represent a powerful economic bloc, with a collective gross domestic product (GDP) of US$24.87 trillion (RM117.16) and a combined population of approximately 2.15 billion.

“The collective scale offers vast opportunities to synergise our markets, deepen innovation, and promote cross-regional investment,” he said.

Anwar noted that ASEAN has emerged as one of the fastest-growing economic regions in the world, with a current GDP of US$3.8 trillion, making it the world’s fifth-largest economy — or even fourth, according to some estimates.

He cited strong existing economic ties between the regions. In 2023, total trade between ASEAN and the GCC amounted to US$130.7 billion, with foreign direct investment (FDI) inflows reaching US$300.2 billion.

Meanwhile, China, remains ASEAN’s largest trading partner, with total trade valued at US$700 billion and FDI inflows of US$17.3 billion.

“These (figures) indicate immense existing linkages, as well as substantial untapped potential,” Anwar said.

He added that the summit’s theme, “Synergising Economic Opportunities Towards Shared Prosperity,” reflects not just Malaysia’s national interests but also ASEAN’s broader vision under its 2025 chairmanship, which Malaysia will lead under the guiding themes of inclusivity and sustainability.

Anwar said regional cooperation has historically played a vital role in driving economic connectivity.

Looking ahead, Anwar said deeper integration in areas such as technology, artificial intelligence (AI), finance and infrastructure could further elevate the trilateral partnership.

He called for bold steps to reduce barriers, facilitate investment and build more resilient supply chains across the three regions.

“I’m confident that ASEAN, GCC and China can draw upon our unique attributes and shape a future that is more connected, more resilient and more prosperous for generations to come,” he said.