ASEAN-GCC-China: Three-way Summit seeks economic resilience against US tariffs

ASEAN, Gulf nations, and China convened in Kuala Lumpur to bolster economic cooperation (Image credit: AP)

Southeast Asian and Gulf nations are set to carry a three-way summit with China on Tuesday in Malaysia’s Kuala Lumpur, aiming to spice up economic ties and strengthen regional cooperation amid rising world uncertainty and rising US commerce stress.The summit brings collectively the 10-member Association of Southeast Asian Nations (ASEAN), the six-nation Gulf Cooperation Council (GCC), and Chinese premier Li Qiang. It marks the primary such assembly between all three events, reported AP.Malaysian prime minister Anwar Ibrahim, who opened the summit, mentioned stronger ASEAN-GCC ties are essential for constructing economic resilience and securing sustainable development. “The ASEAN-GCC partnership has never been more important than it is today, as we navigate an increasingly complex global landscape.”The GCC- made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates- was ASEAN’s seventh-largest buying and selling associate in 2023, with commerce totaling $130.7 billion.Kuwait’s crown prince Sheikh Sabah Khalid Al Sabah famous that the summit builds on their first assembly in Riyadh final yr, with hopes of deepening cooperation to higher deal with world crises.China’s premier Li Qiang’s presence underscores China’s rising affect in Southeast Asia, the place many nations proceed to have interaction with each China and the United States regardless of rising tensions between the 2 powers.Recently, US President Donald Trump introduced sweeping tariffs, with six ASEAN nations among the many hardest hit, with tariffs between 32 per cent and 49 per cent. Though a 90-day pause was introduced in April, issues stay. Anwar has known as for a particular ASEAN summit with Trump to deal with the tariffs.Analyst Collins Chong Yew Keat from Universiti Malaya mentioned ASEAN’s rising ties with China, whereas counting on US protection help, mirror a fragile stability. He warned that this pattern might push the US to drag again from the area, doubtlessly permitting China to develop its affect even additional.Despite overlapping territorial disputes within the South China Sea involving a number of ASEAN members and China, the bloc has remained largely impartial, aiming to keep up relations with each main powers.