Leaders from Southeast Asia, the Gulf, and China have unveiled a groundbreaking framework for trilateral collaboration at the inaugural ASEAN-China-GCC Summit, signaling a shift toward integrated economic strategies in an era of global fragmentation.
Three Powerhouses, One Vision
Chinese Premier Li Qiang emphasized the need for 'industrial synergy and policy coordination' among the 10 ASEAN nations, 6 GCC states, and China – collectively representing over 25% of global GDP. The proposal calls for aligning China's Belt and Road Initiative with ASEAN's Connectivity Master Plan and GCC development blueprints.
Energy Meets Manufacturing
The summit highlights complementary strengths: GCC's $4.3 trillion sovereign wealth funds and energy resources could fuel ASEAN's manufacturing growth and China's technological innovation. This triangular partnership aims to create supply chain resilience through resource sharing and infrastructure co-development.
Countering Protectionism
With global trade growth projected to slow to 1.7% in 2024 by WTO estimates, the summit's focus on multilateral cooperation offers an alternative model. Premier Li stressed 'equal partnership' principles, proposing joint ventures in renewable energy transition and digital economy integration.
Analysts note the timing coincides with ASEAN's push to conclude the world's largest trade pact (RCEP) implementation and GCC states' economic diversification efforts. The next working-level talks are scheduled for Q1 2025 in Riyadh.
