Deputizing for the Custodian of the Two Holy Mosques, HRH Crown Prince Chairs GCC-ASEAN Riyadh Summit

General News

2024-11-05

Riyadh, SPA: Deputizing for Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, chaired here today the Gulf Cooperation Council (GCC) and the Association of Southeast Asian Nations (ASEAN) Riyadh Summit.HRH the Crown Prince received leaders and heads of delegations participating in the summit upon their arrival at the summit's venue in Riyadh.HRH the Crown Prince, and GCC and ASEAN leaders took a group photo before the summit.At the outset of the summit, verses of the Holy Quran were recited, then the Crown Prince delivered the following speech:In the name of Allah, the most gracious, the most merciful,Your Majesties, Excellencies and Highnesses,May Allah's peace and mercy be upon you.On behalf of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, I am delighted to welcome you in the Kingdom of Saudi Arabia. We are pleased to hold this summit that is a testimony to the friendship and cooperation between the GCC states and ASEAN.Our meeting today aims to further develop cooperation and partnership in a way that fulfils the interests of peoples, increases opportunities for development, and consolidates security and stability.As we are holding this meeting, we are pained by the escalation of the ongoing violence in Gaza, the price of which is being paid by innocent civilians. In this regard, we affirm our categorical rejection of the targeting of civilians, under any pretext, and underline the importance of adhering to international humanitarian law and the need to stop military operations against civilians and infrastructure that directly affects their lives. We call for establishing conditions that lead to the return of stability and to the achievement of a lasting peace that ensures reaching a just solution and the establishment of a Palestinian state within the 1967 borders, and helps attain security and prosperity for all.Your Majesties, Excellencies and Highnesses,The GCC-ASEAN countries have achieved a milestone in economic development, with the collective GDP of our countries exceeding $7.8 trillion.We have witnessed economic growth that has increased our countries' contribution to the global GDP; the economies of the GCC countries and ASEAN countries have grown by 7.3% and 5.7%, respectively, during 2022, motivating us to work together toward a more prosperous economy.The growing GCC-ASEAN trade relations is evident: the volume of trade with the ASEAN countries, amounting to $137 billion, has reached 8% of GCC's global trade; the GCC exports to the ASEAN countries constitute 9% of its total exports; the GCC imports from ASEAN are amounting to 6% of the total GCC imports.During the past 20 years, the GCC invested 4% of its total foreign investments in ASEAN countries, amounting to $75 billion.The ASEAN investment in the GCC accounts for 3.4% of the total foreign direct investments in the GCC countries, amounting to $24.8 billion.We look forward to strengthening our economic relations, taking advantage of the available opportunities, and opening new scopes of cooperation, in all fields, in light of the human resources, commercial opportunities, and promising investment projects that our countries possess.We commend the level of coordination and cooperation our countries enjoy when it comes to international developments, and reaffirm our keenness to advance joint action further in order to realize our goals and meet the aspirations of our peoples.In this regard, we appreciate your countries' support for the Kingdom's bid to host Expo 2030 in Riyadh.Your Majesties, Excellencies and Highnesses,The joint GCC-ASEAN action plan for 2024-2028 sets out a clear road map for increasing cooperation and partnership, which we are all keen to do, in various fields in order to serve our interests.Our countries continue to be safe and reliable sources of energy, and contribute to maintaining the stability of global energy markets. We are striving, at an accelerated pace, to meet, in a sustainable way, the requirements for developing clean, low-carbon energy technologies and petrochemical supply chains.We also look forward to achieving the maximum benefit from logistical resources and infrastructure, to expanding cooperation in tourism and cultural activities, enhancing communication among our peoples and establishing partnerships among the business sectors in our countries, to contribute to achieving the goals of our ambitious visions for a better future of prosperity, development and progress.We welcome you, again, hoping that this summit will achieve tangible results that will help expand cooperation in various fields for the good of our peoples and the prosperity of our countries.May peace, mercy and the blessings of God be with you.