Li Qiang Highlights Vast Potential For ASEAN-GCC-China Economic Collaboration

KUALA LUMPUR, May 27 (Bernama) -- Amid a new wave of technological revolution and industrial transformation, Chinese Premier Li Qiang has called on ASEAN and Gulf Cooperation Council (GCC) countries to jointly pioneer core sectors of trilateral development, including cooperation in high-tech industries, while safeguarding industrial and supply chains.

Speaking at the ASEAN-GCC-China Economic Forum on Tuesday evening, Li highlighted the rising challenges of protectionism and unilateralism, stressing that the three regions must steadfastly promote openness and eliminate hostility to unlock broader market opportunities.

He emphasised that while the combined economic scale of the three regions accounts for about one-quarter of the global economy, their current total trade volume only accounts for approximately 5.4 per cent of global trade, indicating vast room and potential for cooperation.

“This indicates a critical entry point for us to strengthen cooperation and accelerate development,” Li said. 

Reflecting on public cooperation, he expressed optimism after witnessing vibrant growth during his visit to Malaysia, as well as during his previous trips to the Middle East and Gulf countries last year.

Li noted that each country possesses unique strengths, and deeper collaboration can create powerful synergies.

“This collaboration will deliver higher-quality research and development (R&D) support for innovation platforms, a broader range of applied products, and foster the growth of emerging industries and new business models, thereby boosting the trilateral nations’ influence and standing in the global innovation landscape,” he said.

Using the new energy vehicle (NEV) sector as an example, Li revealed that China’s NEV production and sales surpassed four million units between January and April this year. He added that over 80 per cent of China’s manufacturing sector now operates under the “Smart Factory” framework.

“NEVs are not only a triumph of the energy revolution but also an integration of intelligent technologies, serving as a major smart hub that accelerates the development of multiple emerging technologies,” he said.

Li further highlighted China’s commitment to proactive fiscal policies and moderately accommodative monetary policies, along with accelerating industrial upgrades toward high-end, intelligent, and green development to cultivate emerging industries.

“No matter what challenges lie ahead, the Chinese government and people have the capacity and confidence to keep China’s economic ‘giant ship’ steady and on course.

“We will firmly commit to enhancing our high-level openness and will implement more autonomous and stable measures to promote openness,” he added.

Li also underscored that Asia’s rapid development over recent decades has confirmed that unity, rejuvenation, peace, and stability are the foundations for sustainable growth and prosperity.

“The countries share a common destiny. Without mutual trust, conflicts will arise and escalate, making cooperation impossible.

“Conversely, enhancing unity and rejuvenation enables strategic mutual support, fostering wider, more sustainable, and high-level economic cooperation, and ensuring long-term stable development,” he said.

-- BERNAMA