ASEAN, GCC Cooperation Offers Vast Economic Opportunities – Thai Foreign Minister

By Voon Miaw Ping

KUALA LUMPUR, May 26 (Bernama) --  ASEAN and the Gulf Cooperation Council (GCC) region hold strong potential for deeper economic collaboration, particularly in the areas of trade, investment, energy development and food security, Thai Foreign Minister Maris Sangiampongsa said.

He said the GCC countries, known for their strong financial capabilities and investment funds, represent a valuable opportunity for ASEAN to attract capital inflows and expand development partnerships.

“The GCC has a very strong potential in the areas of trading and development collaboration. 

“I think this is a good opportunity for ASEAN to attract more investment, more funding from the group of countries,” he told Bernama in an exclusive interview on the sidelines of the 46th ASEAN Summit.

In conjunction with the regional summit, Malaysia, the Chair of ASEAN 2025, will also host the 2nd ASEAN-GCC Summit and the inaugural ASEAN-GCC-China Summit tomorrow.

Maris said as ASEAN is now transitioning to green energy and strengthening its energy security, it is also crucial for the grouping to work with the GCC countries, tapping into their expertise and experience in the area to build a resilient energy future. 

This would be an advantage to the ASEAN region, he added. 

He noted that ASEAN, with its strong agri-food industry, also offers vast potential for cooperation in this sector, supporting the Gulf region’s efforts in enhancing their food security.

Formed in 1981 with its headquarters in Riyadh, the GCC has six members, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).

ASEAN and the GCC held their first summit in Riyadh in 2023, and the second summit tomorrow is set to significantly expand their bilateral cooperation, advancing inter-regional relations to the next level.

On the trilateral cooperation with the GCC and China, Maris underscored ASEAN’s role as a convener power, providing platforms for meaningful dialogues to enhance security and creating opportunities to deepen collaboration.

“I think that is a very good advantage that we can balance our interests between rivalries of major powers, working together in areas of security, economic development. This is the key strength of ASEAN,” he said.

With the theme “Inclusivity and Sustainability”, this marks Malaysia’s fifth time chairing ASEAN, following previous terms in 1977, 1997, 2005 and 2015.

-- BERNAMA