KUALA LUMPUR, Malaysia (AP) — Regional associations of Southeast Asian nations convened a summit with China and six Persian Gulf countries on Tuesday to bolster economic collaboration and resilience amid global trade instability resulting from U.S. tariff increases.
Malaysian Prime Minister Anwar Ibrahim, in his opening address, noted that this inaugural summit in Kuala Lumpur would usher in a new era of cooperation.
Southeast Asian nations, the Gulf Cooperation Council, and the ten-member association with China represent nearly $25 trillion in GDP and over 2 billion people, presenting a significant opportunity for cross-regional investment.
“We are optimistic that ASEAN, GCC, and China can capitalize on our distinct advantages to forge a more interconnected, resilient, and prosperous future,” he said at the summit.
Li emphasized that tripartite cooperation would enhance all sectors and foster economic development and peace in the region. China is the largest trading partner of ASEAN and aims to position itself as a trusted ally amidst competition with the U.S., with the GCC supplying about one-third of China’s crude oil imports.
“China will collaborate with ASEAN and GCC to enhance our synergy,” he stated.
Malaysia currently chairs ASEAN, which includes Brunei, Cambodia, Indonesia, Laos, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
Earlier on Tuesday, Anwar remarked at another ASEAN-GCC forum that the partnership between the two blocs is crucial for navigating a more intricate global economy. He later announced plans to initiate discussions to establish a free trade area.
Kuwait Crown Prince Sheikh Sabah Khalid Al Sabah mentioned that the two blocs, which held their inaugural summit in Riyadh in 2023, would build upon this momentum to deepen cooperation and “enhance our capacity to face crises.” He noted that the GCC is ASEAN’s seventh-largest trading partner, with total trade reaching $130.7 billion in 2023.
The GCC comprises oil producers Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Anwar stated last week that the GCC already enjoys strong ties with the U.S. and “wants to build closer relations with China.”
ASEAN maintains a policy of neutrality and seeks to attract both Beijing and Washington, but the threat of Tariff increases from U.S. President Donald Trump has been detrimental. Six of the bloc’s members have been severely affected, facing tariffs ranging from 32% to 49%.
Trump announced in April the suspension of 90-day tariffs across most global regions, and this month issued similar agreements with major competitor China in an effort to ease trade war tensions. ASEAN is pursuing a summit with Trump regarding tariffs while also seeking to expand trade relations with China and others.
Brunei’s Sultan Hassanal Borkia, one of the world’s wealthiest individuals and current monarch, withdrew from a three-party summit due to fatigue. He attended the ASEAN Summit on Monday and the ASEAN-GCC meeting on Tuesday.
“He’s just a bit tired, so he’s taking some time to rest,” Anwar informed reporters.
The Sultan’s office issued a statement following guidance from Malaysian medical professionals, indicating that the monarch would rest at the heart laboratory for “a few days.” He was reported to be “in good health,” but needed time to recuperate.
At a press conference following the summit, Anwar mentioned that ASEAN isn’t leaning towards either China or the U.S., but aims to work with both for economic reasons.
“I don’t believe (ASEAN) is tilting in any direction,” he asserted.
Collins Chong Yew Keat, a diplomatic, strategic, and security analyst with Malaya University, remarked that the ASEAN-GCC-CHINA Summit reflects Beijing’s efforts to solidify support during the ongoing trade war with the U.S.
While ASEAN relies on U.S. defense assistance, it is simultaneously strengthening its trust and partnership with China and other U.S. rivals. Chung noted that the bloc has not taken decisive action against Beijing’s incursions in the contentious South China Sea, where ASEAN members Vietnam, the Philippines, Malaysia, and Brunei have overlapping claims with China.
“If this trend continues under the current Trump administration, it could create greater distances between Washington and the region, leading to significant challenges and a deeper Chinese influence,” he stated. ___
This story has been updated to clarify that the combined GDP for ASEAN-GCC-China is approximately $25 trillion instead of $25 billion.
Source: apnews.com