Singaporean Prime Minister Lawrence Wong dropped a major economic vision bomb at the ASEAN-China-GCC Economic Forum 2025 this week: uniting two powerhouse trade blocs could supercharge global commerce. 💥
Why It Matters
Imagine combining Southeast Asia’s economic dynamism with the Gulf’s energy might 🤝. The Regional Comprehensive Economic Partnership (RCEP) – already the world’s largest trade deal covering 15 Asia-Pacific nations – teaming up with oil-rich GCC states (Saudi Arabia, UAE, Kuwait, Qatar, Oman, Bahrain) could create an Avengers-level team-up for trade stability. Together, they rep 35% of global GDP! 📈
The Bigger Picture
With economic storms brewing worldwide 🌪️, Wong argues this cross-continental collab could:
- 🚀 Turbocharge investment flows
- 🛡️ Strengthen rules-based trade systems
- 💡 Spark new innovation corridors
This comes as ASEAN and Gulf nations increasingly eye each other’s markets – think Saudi Vision 2030 meets Indonesia’s digital boom. 📱🛢️
Reference(s):
Singaporean PM: RCEP-GCC cooperation constructive for trade system
cgtn.com