Riyadh, October 20, 2023, In lieu of King Salman bin Abdulaziz Al Saud, Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud presided over the Riyadh Summit, uniting the Gulf Cooperation Council (GCC) and the Association of Southeast Asian Nations (ASEAN). As leaders and delegates arrived at the summit's venue in Riyadh, the Crown Prince greeted them and convened for a group photograph.
The summit commenced with the recitation of Quranic verses, followed by the Crown Prince's address. He extended a warm welcome to the distinguished guests on behalf of King Salman and emphasized the significance of the strong bonds and cooperation between GCC and ASEAN nations.
The Crown Prince stressed that the summit aimed to foster collaboration and partnership to benefit the people, enhance development opportunities, and reinforce security and stability. In light of the ongoing conflict in Gaza, he expressed deep concern for the suffering of innocent civilians and firmly denounced the targeting of non-combatants. He urged adherence to international humanitarian laws and called for a cessation of military actions against civilians and infrastructure, emphasizing the need for conditions that lead to lasting peace and the establishment of a Palestinian state within 1967 borders.
Highlighting the economic achievements of the GCC-ASEAN nations, the Crown Prince revealed their collective GDP exceeding $7.8 trillion. The robust economic growth in both regions, with 7.3% for GCC and 5.7% for ASEAN countries in 2022, motivated further cooperation for economic prosperity. Trade relations have thrived, with GCC-ASEAN trade volume reaching $137 billion, constituting a substantial portion of their global trade. Investments between the two regions have also been substantial, with the GCC investing $75 billion in ASEAN countries over two decades, and ASEAN's investments in the GCC amounting to $24.8 billion.
The Crown Prince expressed eagerness to strengthen economic ties, utilize existing opportunities, and explore new avenues of cooperation across various sectors. He commended the strong coordination and cooperation among the nations on international matters and sought to enhance joint efforts to fulfill their shared goals.
In conclusion, the Crown Prince emphasized the importance of the joint GCC-ASEAN action plan for 2024-2028, which outlines a clear path for increased collaboration and partnership. Both regions continue to play pivotal roles as secure and reliable energy sources, contributing to global energy market stability. They are also committed to sustainable, low-carbon energy technologies and petrochemical supply chains. The leaders look forward to leveraging their logistical resources, fostering tourism, and enhancing cultural connections, as well as promoting partnerships in the business sectors for the betterment of their societies and countries.
The Crown Prince extended his hopes for the summit to yield tangible outcomes that would enrich cooperation in various domains and further the well-being and prosperity of their nations. The address concluded with a wish for peace, mercy, and blessings.
