Perth, Australia, February 10, 2024, In his address at the 7th Indian Ocean Conference held today, Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), emphasized the ambitious developmental trajectories pursued by GCC states, with a notable focus on advancing technology and digital infrastructure.
During his discourse, Albudaiwi delved into the intricate economic and trade dynamics between GCC states and members of the Indian Ocean Rim Association (IORA), accentuating the strategic significance of the Indian Ocean region for the GCC. He shed light on the strides made by the GCC in pivotal sectors of the Indian Ocean realm, particularly in renewable energy and digital infrastructure, positioning these advancements as potential blueprints for regional collaboration.
Albudaiwi underscored the pivotal role of fuel and mineral oils, which constitute a substantial portion—72.3%—of GCC exports to IORA nations, amounting to a total value of $215 billion. Moreover, he championed the potential of green technologies and innovations emanating from GCC-led sectors to catalyze progress across the Indian Ocean region.
The secretary general stressed the imperative of nurturing digital economies alongside traditional trade in vital commodities like fuel, oils, and precious metals. He advocated for innovations in digital transactions and e-commerce as essential components of regional economic growth.
In his closing remarks, Albudaiwi reiterated the unwavering commitment of GCC states to leverage their strategic positioning, technological advancements, and economic capacities for the collective advancement of the Indian Ocean region. He emphasized the critical importance of collaborative endeavors in addressing shared challenges and seizing opportunities for mutual growth and innovation.
