RIYADH, Oct 20 — Prime Minister Datuk Seri Anwar Ibrahim proposed an Asean-Gulf Cooperation Council (GCC) Comprehensive Economic Partnership Agreement (CEPA) to maximise the economic potentials of both regions.
He said the challenges posed by the current geopolitical climate require the 10-member bloc and the Middle East to reimagine economic cooperation.
“We need to transform Asean-GCC relations to maximise the economic potentials of our combined regions. Malaysia is committed to doing just that,” Anwar said at today’s inaugural Asean-GCC Summit.
In this regard, Malaysia proposed CEPA, an agreement crucial in advancing progressive, inclusive and sustainable growth, especially as the regions recover from the Covid-19 pandemic and face geopolitical uncertainties.
“It will be the first-ever free trade agreement between Asean and the Middle East,” he said.
New Era of Asean-GCC Cooperation
Concerning the summit, Anwar, also the Finance Minister, said it signifies that the relations between both regions are on the threshold of a new era of cooperation.
Asean-GCC relations have grown by leaps and bounds since they first formalised relations in 1990.
“We have raised the level of ambition in our relations with the GCC,” he said.
Saudi Crown Prince Mohammed bin Salman officiated the historic summit. Indonesian President Joko Widodo, who led Asean this year, co-chaired the summit with the Crown Prince.
The leaders summit brought together the two prominent blocs comprising the 10 Asean member states and six members of the GCC — Saudi Arabia, Kuwait, United Arab Emirates, Qatar, Bahrain, and Oman.
Anwar said the adoption of the Joint Statement of the summit and the accompanying Framework of Cooperation would be a testament to Asean-GCC relations.
“The sheer scale of our matured, expanse relations is reflective in the plethora of issues contained in the adopted documents,” he added.
— Bernama
