GCC-Asia economic partnership key to investment and infrastructure, says GCC chief

GCC Secretary-General Jasem Albudaiwi highlighted the importance of economic ties with Asia during the opening of the Gulf-Asia Economic Forum in Bangkok. He emphasized that the partnership between GCC states and Asian countries is crucial for investment, digital infrastructure, and sustainable growth. Albudaiwi stressed that strengthening economic and investment cooperation, expanding financial and banking integration, and developing digital infrastructure are vital for sustainable development and shared prosperity.

The GCC has shown its ability to address economic challenges through prudent policies, strong financial reserves, robust banking sectors, and infrastructure development. The GCC and Asia have a history of trade relations that provide a foundation for long-term economic partnerships. Albudaiwi outlined three areas of focus: logistics and infrastructure, digital infrastructure and AI, and financial and banking cooperation.

The logistics and infrastructure sector aims to enhance connectivity and trade efficiency. Digital infrastructure and AI involve expanding investments in data centers, cloud services, and advanced technology. Financial and banking cooperation focuses on trade financing, joint investment platforms, and capital market linkages. Albudaiwi called for moving the partnership from opportunity exploration to actual implementation by enhancing direct communication between institutions and identifying priority projects.

He highlighted the private sector's role in driving innovation and turning initiatives into development projects. Albudaiwi affirmed that shared economic interests and complementary capabilities between the GCC and Asian partners provide a strong base for advancing economic relations and achieving mutual prosperity.