Doha:Secretary-General of the Gulf Cooperation Council (GCC), Jasem Albudaiwi, emphasized the strategic importance of economic integration between the GCC and ASEAN as a key factor in boosting investment flows and fostering partnerships that support mutual growth and prosperity.
According to Saudi Press Agency, Albudaiwi made these remarks during the ASEAN dialogue session on regional integration and its link to investment, which took place in Doha, Qatar, on the sidelines of the 9th World Investment Forum (WIF 2026). The event was attended by several ministers and officials.
Albudaiwi highlighted the rapid transformations in the global economy, driven by geopolitical uncertainty and shifting supply chains, underscoring regional integration as a strategic choice. He noted that this approach not only expands markets but also builds resilient and competitive economies capable of attracting investment and confronting global challenges.
He further stated that economic integration is a fundamental pillar of the GCC's development journey. The GCC states have achieved significant progress in areas such as the Customs Union and the Gulf Common Market, strengthening the GCC's position as a global hub for trade, investment, energy, and logistics.
Albudaiwi also pointed out the economic influence of the GCC states, with a combined GDP of approximately $2.4 trillion and merchandise trade volume nearing $1.8 trillion. These figures reflect the robust economic base and promising investment opportunities within the GCC.
He emphasized that the GCC and ASEAN experiences offer a model for how regional cooperation enhances economic competitiveness and opens new investment opportunities. Integration between the two regions is driven by mutual economic advantages, combining the GCC's investment capabilities and energy resources with ASEAN's industrial networks and dynamic markets.
Albudaiwi noted that the GCC-ASEAN summits in Riyadh and Kuala Lumpur laid a foundation for strengthening ties. The next phase involves expanding investment flows, deepening supply-chain integration, and building productive partnerships.
He stressed the importance of cooperation in advanced manufacturing, digital transformation, clean energy, logistics, and investment facilitation, as well as discussions about a potential Free Trade Agreement (FTA) to remove trade barriers and open new economic opportunities.
Concluding his participation, Albudaiwi highlighted the shared ambition of the GCC and ASEAN to create a more interconnected economic space, transforming regional integration into cross-regional investments and sustainable partnerships, ultimately benefiting the economic growth and prosperity of both regions' peoples.