ASEAN-GCC Summit to Foster Economic Collaboration

The ASEAN-Gulf Cooperation Council (GCC) Summit will further foster the economic collaboration, according to the Saudi Press Agency (SPA).

The ASEAN-GCC Summit will take place within the framework of the vision of the King Abdulaziz, King of the Kingdom of Saudi Arabia to increase the joint actions, as well as to promote the strategic partnership cooperation between the GCC and ASEAN countries, it pointed out.

The summit, the first ever meeting between the ASEAN and GCC leaders will reflect the effort of the Saudi Arabic king and princesses in building the strategic partnership relations with the international community, the source continued, underlining that ASEAN and the GCC will increase their cooperation level, especially the language relations and shared interest enhancement.

It is aimed to approve the joint cooperation framework for the next five years, 2024-2028.

According to the SPA, the ASEAN-GCC relations commenced in 1989.

In 2019, the ASEAN-GCC trade volume was US$93.9 billion, including US$60.9 billion recorded for exports and US$33.3 billion for imports, it added.

The ASEAN leaders, including Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, and their GCC counterparts are gathering in Riyadh to attend the GCC-ASEAN Summit scheduled for Oct. 20.

Source: Agence Kampuchea Presse