Both sides agreed to ensure sustainable supply chains, transport interconnectivity and communications; cooperate in green and renewable energy sources and technologies, creating business opportunities and boosting trade and investment flows.
Leaders of the Gulf Cooperation Council and the ASEAN recently met in Riyadh and agreed to implement the four priority areas of ASEAN Outlook on the Indo-Pacific—maritime cooperation, connectivity, the UN SDGs and economic and other cooperation.
They agreed to ensure sustainable supply chains, cooperate in renewable energy, and boost trade and investment.
They declared to enhance trade and investment flows, by creating mutually beneficial opportunities for joint investments, consistent with the ASEAN-GCC Framework of Cooperation, with special emphasis on sustainable infrastructure, renewables, petrochemicals, manufacturing, logistics, connectivity, digitalisation and a few other sectors, an official release said.
Both sides will promote trade and investment ties, by enhancing public-private sector engagement and business-to-business relations, and explore cooperation on key economic partnership priorities—strengthening regional market integration; sustainability and decarbonisation; digital transformation and inclusivity and people-to-people ties.
The summit was co-chaired by Prince Mohammed bin Salman bin Abdulaziz Al Saud, crown prince and Prime Minister of Saudi Arabia, and Indonesian President Joko Widodo
Saudi Arabia will host the first ASEAN-GCC Economic and Investment Conference in Riyadh in the first half of next year.
Fibre2Fashion News Desk (DS)