GCC chief highlights regional cooperation as key to growth

Jasem Mohammed Albudaiwi, Secretary-General of the Gulf Cooperation Council (GCC), stressed during a seminar in New York that regional collaboration is crucial for economic growth and prosperity in the Gulf region. He highlighted that enhancing integration in energy, trade, transportation, and the digital economy can unlock new investment opportunities and shared prosperity for the region's people.

Albudaiwi made these remarks at the seminar "Regional Convergence for Energy, Trade, and Connectivity," co-organized by the GCC Secretariat and the United Nations Development Programme (UNDP) on the sidelines of the 81st session of the UN General Assembly. He explained that evolving trade routes, energy systems, and technology are transforming economic links, with investments increasingly flowing toward regions offering greater opportunity, flexibility, and stability.

However, Albudaiwi noted that geography alone is insufficient for prosperity; rather, it is essential to connect markets, infrastructure, and capabilities through strengthened regional cooperation. He emphasized that GCC initiatives, like the Gulf electricity interconnection project, demonstrate how regional collaboration can boost resilience and deliver economic and strategic benefits.

Albudaiwi outlined three key areas for future efforts: creating a structured roadmap aligned with national priorities, identifying investment opportunities in energy, trade, transport, and digital connectivity, and expanding partnerships with governments, financial institutions, sovereign investors, and the private sector. He stressed the importance of national ownership, voluntary participation, and mutual benefit, urging efforts to build upon existing initiatives, avoid duplication, and focus on projects capable of delivering measurable results.

Albudaiwi affirmed that achieving stronger economic integration, new investment opportunities, and growth-supporting projects is central to the initiative's success, positioning the Gulf region for sustainable development and shared prosperity for future generations.