KUALA LUMPUR, May 27 — Prime Minister Datuk Seri Anwar Ibrahim today hailed the inaugural Asean-Gulf Cooperation Council (GCC)-China Summit as a significant platform for fostering collaboration among some of the world’s most influential economic blocs.
“Asean, the GCC, and China collectively represent a combined GDP of US$24.87 trillion and a population of approximately 2.15 billion,” Anwar said during his opening remarks before over a dozen heads of state.
“This collective scale offers vast opportunities to synergise our markets, deepen innovation, and promote cross-regional investment.”
Among the notable attendees was China’s Premier Li Qiang.
China has been Asean’s largest trading partner since 2009, driving economic growth in the region through its rapid development. Asean economies have benefited significantly from China’s demand for raw materials, agricultural goods, and intermediate products, while the superpower has supplied the region with consumer electronics, industrial machinery, and high-tech products.
Trade between Asean and China, facilitated by a free trade agreement, has more than doubled since 2010 — from US$235.5 billion to US$507.9 billion in 2019. In the first quarter of 2025 alone, it exceeded RM1 trillion.
The summit, a first of its kind, comes against the backdrop of potential economic turbulence triggered by US President Donald Trump’s “Liberation Day” tariffs, which imposed steep import duties on both Asean countries and China, with levies on Chinese imports reaching as high as 145 per cent.
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