Beijing: China is ready to deepen strategic alignment with ASEAN and the Gulf Cooperation Council (GCC) to boost development and economic potential, said Premier Li Qiang. He emphasized the immense potential of the ASEAN-GCC-China partnership, which represents approximately one quarter of the world's population and economic aggregate, suggesting it can be developed into a model of cross-regional openness.
According to BERNAMA News Agency, Premier Li stated that the trio must commit to regional openness by integrating their markets into a shared mega-market, ensuring efficient flow of resources, technology, and talent, and facilitating freer trade and investment. He underscored the importance of fully connecting the three markets to harness greater development potential and achieve significant economies of scale during the inaugural ASEAN-GCC-China Summit.
Premier Li expressed optimism that with the conclusion of negotiations for the China-ASEAN Free Trade Area (FTA) 3.0 upgrade, all parties would soon finalize an FTA with the GCC to enhance trilateral trade cooperation. He highlighted that closer ties can lead to the integration of resources, manufacturing, and markets, creating a dynamic economic circle and growth hub.
"This is of great significance not only for the economic prosperity of our own regions but also for peace and development across Asia and the world," Li stated. He urged the three regions to seize this historic opportunity to enrich trilateral cooperation and make it a model of global collaboration and development.
Premier Li also commended Prime Minister Datuk Seri Anwar Ibrahim for initiating the trilateral summit and thanked the Malaysian government for its efforts and arrangements. He noted that in the current global context, marked by geopolitical turmoil and sluggish economic growth, establishing this summit as a platform for communication is a major innovation in regional economic collaboration.
Statistics indicate that the combined economy of ASEAN, GCC, and China has reached nearly USD25 trillion, with a population exceeding two billion people.