Bangkok:The Secretary-General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudaiwi, highlighted the strategic importance of strengthening economic ties between GCC and Asian countries. This partnership aims to expand investment cooperation, deepen financial and banking integration, and promote sustainable growth.
According to Qatar News Agency, Albudaiwi addressed the GCC-Asia Economic Forum, emphasizing the significance of reliable partnerships amid global economic changes driven by geopolitical developments and shifts in trade, investment, and technology. The forum, organized by the Kuwait Banking Association and the Asian Bankers Association, brought together business leaders and policymakers to discuss opportunities under the theme “Banking, Investment and Digital Infrastructure.”
Albudaiwi noted the resilience of GCC economies, attributing it to prudent economic policies, strong financial reserves, and efforts to diversify economies and infrastructure. He emphasized that longstanding ties with Asia provide a foundation for enhanced economic partnerships, combining GCC’s financial capabilities with Asia’s industrial strengths.
The Secretary-General outlined three priority areas for cooperation logistics and infrastructure, digital infrastructure and artificial intelligence, and financial and banking services. He stressed the need for better connectivity between ports, investment in digital technologies, and expanded financial services to facilitate trade and investment.
Citing data from the GCC Statistical Center, Albudaiwi highlighted the region’s strong financial capacity, with Gulf sovereign wealth funds holding $5.2 trillion and commercial banks’ assets reaching $4.1 trillion by June 2026. These indicators demonstrate the GCC’s ability to support long-term investments and economic partnerships.
Albudaiwi called for moving from exploring opportunities to implementing joint projects and investments, emphasizing the private sector’s role in driving innovation. He concluded by stressing the potential of GCC-Asian cooperation to translate shared interests into tangible economic developments.