Vietnam Proposes ASEAN–GCC–China Financial Network at Landmark Trilateral Summit

Kuala Lumpur, May 27, 2025 – The first-ever ASEAN–GCC–China Trilateral Summit took place during the 46th ASEAN Summit in Malaysia.
During the event, Vietnamese Prime Minister Pham Minh Chinh put forward a strategic and forward-looking economic proposal.

Toward a New Interregional Strategic Cooperation Model

The summit brought together leaders from ASEAN, the Gulf Cooperation Council (GCC), and China, who emphasized their shared historical ties — from the ancient Silk Road to modern trade corridors — and reaffirmed the need for deeper cooperation in an increasingly complex global environment.

Prime Minister Pham Minh Chinh welcomed the trilateral exchange as a “historic opportunity” to forge a new strategic cooperation space, uniting three of the world’s leading economic powers. He proposed leveraging existing frameworks such as the ASEAN–China Free Trade Agreement, advancing negotiations on an ASEAN–GCC FTA, and exploring a broader ASEAN–GCC–China economic partnership.

Key Priorities: Trade, Innovation, Green Growth, and Digital Transformation

Leaders agreed to prioritize cooperation in trade, investment, supply chain integration, and market access. PM Pham Minh Chinh emphasized depoliticizing science and investment and focusing on shared innovation.

He called for:

• Accelerating ASEAN Power Grid integration
• Developing green technologies and renewable energy
• Promoting smart, circular, and ecological agriculture
• Ensuring food security, including Halal food industry standards
• Expanding digital cooperation through the upcoming ASEAN Digital Economy Framework Agreement

A Seamless ASEAN–GCC–China Financial Ecosystem

Recognizing capital flows as the lifeblood of sustainable growth, the Vietnamese leader proposed forming a regional financial ecosystem connecting key hubs such as Ho Chi Minh City, Kuala Lumpur, Singapore, Bangkok, Shanghai, Dubai, and Riyadh.

This interregional financial network would serve as a foundation for deeper trade and investment flows between ASEAN, the Gulf region, and China — propelling economic cooperation to new heights.

Shared Global Vision and Vietnam’s Role

Participants addressed pressing global issues, including the situation in Gaza, expressing support for the two-state solution and peaceful dispute resolution based on international law.

Prime Minister Pham Minh Chinh reaffirmed Vietnam’s commitment to being a reliable connector and responsible partner, ready to contribute actively to a future of peace, prosperity, and inclusive growth for ASEAN, GCC, and China.

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