GCC Chief Touts Gulf-Japan Bonds

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Sept 1 (KUNA) -- Secretary-General of the Gulf Cooperation Council (GCC) Jassem Al-Budaiwi said on Monday he was so proud of the development of Gulf-Japanese relations at all levels, including political, energy, cultural and academic coordination and trade exchange.
Addressing the second joint ministerial meeting of GCC-Japanese Strategic Dialogue, he said this meeting obviously shows the steady growth of this relationship and sincere joint willingness to bolster partnership and serve peoples' interests.
He added that this gathering came amid international circumstances involving rapid political, economic and security transformations that require stronger integration and partnerships to address such shared challenges as food security, climate change, energy security and digital transition, underlining the depth and feasibility of GCC-Japan partnership.
In this regard, he cited joint key steps including the signing of a memo of understanding for strategic cooperation and dialogue in 2012, which established an organized track of consultation and cooperation in politics, security, trade, energy, health, education and culture, along with a joint action plan for 2024-2028 involving a further partnership of digital economy, technological innovation, clean energy, food security and advanced healthcare.
The GCC chief also pointed out free trade agreement negotiations by means of signing a joint statement in Jeddah on July 16, 2023, terms of reference on August 19, 2024 in Tokyo, as well as two rounds of negotiations, the last of which was in the Japanese capital between June 30 and July 5, 2025.
Al-Budaiwi estimated two-way trade exchange at USD 115 billion in 2024, including USD 84 billion in Gulf exports, mostly oil, gas and petrochemicals, and USD 31 billion in imports from Japan in auto, technology and advanced industrial products.
He also valued Japanese investments in the GCC member states at USD 15 billion in the sectors of clean energy, digitalization and smart industries.
In addition, MoUs were signed with leading Japanese companies for developing green hydrogen and blue ammonia in the UAE, Saudi Arabia and Qatar with a view to supporting global transformation towards yellow neutrality by the middle of this century.
Regarding education, he said the number of Gulf students at Japanese colleges has surged by 25 percent since 2020, not to mention academic and research exchange programs to promote knowledge transfer and capacity-building.
As for culture, he said the six GCC countries participated in 2025 Osaka Expo reflecting the depth of this partnership with Japan.
All GCC member states, through their pavilions, sought to highlight their national visions, cultural heritage and future ambitions in innovation and sustainability, he noted.
Furthermore, the GCC chief underlined the significance of cementing cooperation in food security and sustainable agriculture and furthering cultural and tourist exchange, saying GCC-Japan partnership is not only based on economic and political interests, but also on a shared vision for a vision of peace and sustainable developments.
Al-Budaiwi voiced deep thanks to the State of Kuwait for hosting this gathering and to Japan for its sincere cooperation as well as all the GCC countries for their valuable participation.
He hoped that the discussions during the gathering would come up with fresh concrete steps that would contribute to promoting GCC-Japan strategic partnership and creating broader horizons of peoples' welfare.
He thanked His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah and His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah for Kuwait's hosting of this joint meeting.
Al-Budaiwi also thanked Kuwaiti Minister of Foreign Affairs Abdullah Al-Yahya for his great efforts and fervent following-up to ensure the success of this gathering. (pickup previous)
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