China Calls For Deeper Strategic Engagement With ASEAN, GCC

By Choi Wen Feei

KUALA LUMPUR, May 27 (Bernama) -- China is ready to deepen strategic alignment with ASEAN and the Gulf Cooperation Council (GCC) to boost development and economic potential, said Premier Li Qiang.

He said with a combined population and economic aggregate of approximately one quarter of the world’s total, the ASEAN-GCC-China partnership holds immense potential and can be developed into a model of cross-regional openness. 

The trio, he said, must remain committed to regional openness, striving to integrate the markets into a shared mega-market where resources, technology and talent flow more efficiently, and trade and investment are more free and convenient.

"By fully connecting our three markets, we can generate even greater development potential and achieve more pronounced economies of scale," Li said during the inaugural ASEAN-GCC-China Summit here today.

He hoped that with negotiations of the China-ASEAN Free Trade Area (FTA) 3.0 upgrade now completed, all parties would soon conclude negotiations on an FTA with the GCC to boost trilateral trade cooperation.

Li said that through closer ties and cooperation, the three sides can create an organic integration of resources, manufacturing and markets, resulting in a dynamic economic circle and growth hub.

"This is of great significance not only for the economic prosperity of our own regions but also for peace and development across Asia and the world.

"We should seize this historic opportunity, continuously enrich the content of trilateral cooperation, and work to make it a model of global collaboration and development in our time." he said. 

The premier also praised Prime Minister Datuk Seri Anwar Ibrahim for taking the initiative to hold the trilateral summit and thanked the Malaysian government for its efforts and thoughtful arrangements.

He pointed out that in the current global context, marked by geopolitical turmoil and sluggish economic growth, the establishment of this summit as a platform for communication and cooperation is a major innovation in regional economic collaboration.

"This not only continues the historical legacy but also responds to the call of the times,” he said.

According to statistics, the combined economy of ASEAN, the GCC and China has now reached nearly USD25 trillion (USD1=RM4.21), with a population of over two billion people.

--BERNAMA