Ahmed Al -Sayegh: Enhancing cooperation along the Asian continent will contribute to accelerating growth and advancing innovation
Kuala Lumpur on May 30/ WAM/ The tripartite summit between the Cooperation Council for the Arab States of the Gulf and “ASEAN” and China, which recently concluded ways to enhance cooperation in various economic, investment, development and political fields.
His Excellency Ahmed Al -Sayegh, Minister of State, said that the UAE believes that this summit is an opportunity to enhance its position as a global center for trade and investment, as the UAE policy in foreign trade is based on enhancing integration with Asian markets.
His Excellency added: “The UAE emphasizes that cooperation provides extensive opportunities to increase the flows of goods and services, support vital infrastructure projects, exchange knowledge, and accelerate innovation, and the UAE has constructive relations in the fields of trade and investment with the countries A commercial partner of the UAE of $ 90.1 billion. ”
He continued, “Given that the volume of trade between the UAE and the” Asian “countries reached 58.59 billion US dollars in 2023, and there is no doubt that this summit will open new horizons for commercial exchange and investment. Therefore, the UAE is committed to enhancing cooperation through the joint work framework between the Cooperation and Asian Council for the period 2024-2028, which reflects our integrated vision to build long-term strategic partnerships, where the UAE has concluded agreements A comprehensive economic partnership with a number of the association’s countries, including Indonesia and Cambodia, Vietnam and Malaysia in a move confirming the state’s commitment to expanding its economic network with Southeast Asian countries.
He pointed out that the GDP of the ASEAN countries amounted to about 3.8 trillion US dollars in the year 2023, or about 3.6% of the global economy size, and almost 20% of the size of the eurozone economy, and about 1.8 times the size of the economy of the Cooperation Council. This emphasizes the importance of cooperation and supporting continuous growth paths, which makes this partnership a major driver for the global economy.
His Excellency Al -Sayegh said that strengthening cooperation along the Asian continent will contribute to accelerating growth, advancing innovation, and consolidating the position of the region as an emerging global economic power, noting that the total commodity exports from the Cooperation Council for the Arab States of the Gulf amounted to about 122 billion US dollars in 2023, equivalent to 8.2% of the total commodity exports from the Cooperation Council and this confirms that cooperation between these major economic blocs It represents a unique opportunity to expand partnerships and enhance stability in the region.
His Excellency added, “The summit dealt with multiple fields of strategic importance that includes food security and renewable energy, in order to enhance the Gulf partnership with the ASEAN countries and translate it into concrete projects. We aim through the summit to enhance cooperation in these areas through exchanging experiences and technologies in enhancing food security and climate work.”
He continued, “The digital transformation and sustainable development are among the main topics that were discussed during the summit agenda, which contributes to building a common future based on innovation, besides that, education and technology were two main axes that were also highlighted, as we seek to develop academic cooperation and exchange of knowledge.”
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