Riyadh, October 19, 2023, Minister of Economy and Planning, Faisal bin Fadel Al-Ibrahim, has emphasized the Kingdom's commitment to fostering dialogue and enhancing economic, trade, and development cooperation between the Gulf Cooperation Council (GCC) and the Association of Southeast Asian Nations (ASEAN). Hosting the Riyadh Summit is a crucial step in this direction, aimed at facilitating the exchange of best practices and expertise to benefit the economies of both blocs while strengthening the GCC's regional and global presence and promoting economic integration among member states.
In a statement to the Saudi Press Agency (SPA), Minister Al-Ibrahim also highlighted Saudi Arabia's dedication to cultivating strategic international partnerships and evaluating development priorities across various sectors. This approach seeks to ensure economic diversification, create an attractive investment environment, and promote cooperation in advancing sustainable development to meet shared goals and aspirations.
Furthermore, the minister acknowledged the instrumental role played by technical and specialized committees in driving cooperation and economic engagement. These committees are actively involved in enhancing partnerships in critical areas such as energy, food security, education, and infrastructure, ultimately leading to increased joint investments and expanded trade between the two regional groups.
