Asean-GCC: Anwar Proposes Free Trade Pack
This CEPA would be the first-ever free trade pact between Asean and the Middle East and would play a pivotal role in fostering progressive, inclusive, and sustainable growth
During the inaugural Asean-GCC Summit in Riyadh, Prime Minister Datuk Seri Anwar Ibrahim proposed an Asean-Gulf Cooperation Council free trade pact to strengthen economic and political ties between the two regions. He suggested naming the pact the Asean-GCC Comprehensive Economic Partnership Agreement (CEPA).
“We need to transform Asean-GCC relations to maximise the economic potentials of our combined regions. Malaysia is committed to doing just that,” he said, according to Bernama. “It will be the first-ever free trade agreement between Asean and the Middle East,” he said.
A Free Trade Pack
Anwar emphasized the need to reconfigure economic cooperation between the 10-member Asean bloc and the Gulf Cooperation Council amid current geopolitical challenges.
This CEPA would be the first-ever free trade agreement between Asean and the Middle East and would play a pivotal role in fostering progressive, inclusive, and sustainable growth, particularly as both regions grapple with the aftermath of the Covid-19 pandemic and geopolitical uncertainties.
The summit, co-chaired by the Saudi Crown Prince and Indonesian President Joko Widodo, marked a significant step in Asean-GCC relations.
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