The UAE recently participated in the inaugural ASEAN-GCC-China Economic Forum in Kuala Lumpur, Malaysia. Represented by Dr. Thani Al Zeyoudi, Minister for Foreign Trade, the UAE underscored how greater collaboration across Asia can accelerate growth, drive innovation and consolidate the region’s rise as a global economic power.
During his participation, Al Zeyoudi reaffirmed the UAE’s commitment to building strong trade and investment partnerships across the world and that the future-focused nations of Asia were natural partners in these efforts.
GCC, China and ASEAN bloc to become driving force of global economy
Leaders and business representatives from 17 nations gathered at the ASEAN-GCC-China Economic Forum to exchange views on how they work together to navigate today’s complex economic and geopolitical landscape. Al Zeyoudi said the forum offered the chance for attending nations to align their economic visions to achieve strong growth.
“By deepening our connections and exploring avenues of mutual interest, the GCC, China and ASEAN bloc can not only maintain our own upward growth trajectories but also become the driving force of the global economy,” he added.
UAE-ASEAN trade ties in focus
The UAE enjoys positive trade and investment ties with nations across Asia, including the ASEAN bloc. The UAE has concluded Comprehensive Economic Partnership Agreements (CEPAs) with Indonesia, Cambodia, Vietnam and Malaysia, helping to propel the UAE’s non-oil foreign trade with ASEAN countries to $37.7 billion in 2024, a growth of 4.2 percent compared to 2023 and 16.8 percent more than in 2022.
In addition, ASEAN countries accounted for 4.6 percent of the UAE’s total non-oil trade with the world in 2024, and 11.3 percent of the UAE’s trade with non-Arab Asian countries.
“Our foreign trade policy has been designed to bring our economy closer to the markets of Asia, and together we can increase the flow of goods and services between us, support vital infrastructure projects, share knowledge and accelerate innovation. This forum has underlined the depth of this potential – and created the platform to help the nations of our high-growth regions realize it,” Al Zeyoudi added at the ASEAN-GCC-China Economic Forum.
Read: GCC, Malaysia to strengthen trade relations through new agreement
UAE–China non-oil trade hits $90.1 billion in 2024
The UAE also has strong trade and investment links with China. The total value of UAE–China non-oil trade reached $90.1 billion in 2024, reflecting a growth of 4 percent compared to 2023, and increases of 16.5 percent and 48 percent compared to 2022 and 2021, respectively. China remained the UAE’s top trading partner in 2024, accounting for 11 percent of the UAE’s total non-oil trade with the world.
The ASEAN-GCC-China Economic Forum, held in conjunction with the inaugural ASEAN-GCC-China Summit, 2nd ASEAN-GCC Summit and 46th ASEAN Summit, brought together leaders and representatives from China, the ten Association of South East Asian Nation nations )Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) and the six Gulf Cooperation Council nations.
Together, these countries are home to more than two billion consumers and account for over 20 percent of the world’s GDP.
