KUALA LUMPUR: In a historic first, leaders from the Association of Southeast Asian Nations (ASEAN), the Gulf Cooperation Council (GCC), and China convened on 27 May 2024, aimed at forging a new model of cooperation amid escalating global complexities and trade challenges.
Significance of the Summit
This inaugural summit, driven by Malaysian Prime Minister Anwar Ibrahim, signifies a bold attempt to harmonise interests and foster collaboration among diverse nations at various developmental stages.
- ASEAN’s push for new trading partnerships comes as steep tariff threats loom from the United States.
- China’s Premier Li Qiang presented a vision of enhancing cooperation, citing historical trade links through the Silk Road and the ongoing Belt and Road Initiative.
- The GCC includes Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, and Oman, all of which have established ties with ASEAN and China.
Common Ground Amid Diverse Priorities
Analysts described the summit as symbolically significant—an opportunity for the three parties to clarify their priorities and explore ways to work together without straining relationships with Washington.
Joanne Lin from ISEAS-Yusof Ishak Institute acknowledged the challenges, explaining that:
- ASEAN focuses on pragmatic cooperation.
- The GCC seeks to assert its Middle Eastern priorities.
- China aims to bolster its global influence.
Trade and Economic Prospects
The joint statement following the summit emphasised economic cooperation across multiple sectors, including:
- Connectivity
- Energy security
- Digital transformation
- Food and agriculture
- People-to-people exchanges
With a combined GDP of approximately US$24.87 trillion and a population of about 2.15 billion, the potential for collaborative growth is immense. Anwar highlighted existing trade figures, showing substantial linkages while also revealing untapped opportunities.
Managing Geopolitical Trust Deficits
The summit also underscored existing geopolitical tensions and trust issues, particularly concerning the South China Sea and historical rivalries within the GCC. Li Yao, a senior research fellow, cautioned about these deficits that could impede cooperation efforts.
Looking Forward
While the summit didn’t yield immediate breakthroughs, it sets the stage for future dialogues and initiatives. It was suggested that collaboration in areas such as digital infrastructure and green technology could provide ASEAN and GCC countries with critical advantages against US trade policies.
Lin noted the prospective inclusion of GCC countries in the Regional Comprehensive Economic Partnership (RCEP), which would be a significant expansion of ASEAN’s trade ecosystem.
Though challenges remain, the atmosphere of the summit signals a willingness among ASEAN, GCC, and China to manoeuvre through the complexities of the modern geopolitical landscape.