Amid rising protectionism and unilateralism, the three parties can unleash enormous market opportunities when continuing to open wider and remove barriers. Data clearly show that the three parties can foster extraordinary synergy when optimizing their combination of ample energy, strong manufacturing, and a vast market.

by Zhong Guan

On May 27, 2025, the inaugural ASEAN-China-Gulf Cooperation Council (GCC) Summit was successfully concluded in Kuala Lumpur, Malaysia. The three parties explored approaches to foster unity, cooperation, development and prosperity with a focus on promoting inter-regional interests.

The summit also saw the launch of a special working group on trade and investment to strengthen trade ties and economic cooperation, a move amid global fragmentation. The trilateral framework is a milestone in deepening regional cooperation among participating economies in East and West Asia, marking a new wave of regional economic integration.

NEW PARADIGM: COMPLEMENTARITY-DRIVEN ECONOMIC COOPERATION

Economic complementarity is the cornerstone of the ASEAN-China-GCC cooperation. China is a global manufacturing hub and an increasingly important player in technological innovation, ASEAN boasts a huge youthful workforce and serves as a vital supply chain nexus in the global economy, while the GCC has abundant energy resources and sovereign wealth capital. The combined economic output of the three parties accounts for nearly 25 trillion U.S. dollars, representing nearly a quarter of the world's total, serving 2.15 billion consumers.

Mutually beneficial cooperation among the three parties lays a solid foundation for new, high-quality trilateral cooperation. China has been ASEAN's largest trading partner for 16 consecutive years, while ASEAN has been China's top trading partner for five consecutive years. Meanwhile, China has become the largest trading partner of the GCC.

Bilateral trade between ASEAN and the GCC exceeds 100 billion dollars. Furthermore, the new round of negotiations on the China-ASEAN Free Trade Area 3.0 has been fully completed and the China-GCC free trade agreement negotiations are on an accelerating track.

The three parties enjoy significant potential for cooperation in many areas such as energy security, agricultural development and digital transformation.

If institutionalized cooperation can be achieved in areas such as industrial specialization, capital flows and market interconnectivity, there will be greater possibilities to build a cooperation pattern with deep synergistic strengths of resources, technology, capital and market. The "triangular interaction" model is emerging.

NEW BLUEPRINT: GLOBAL SOUTH-SOUTH COOPERATION

Given the profound and complex transformations taking place in the global and regional political and economic landscape, the theme of the summit -- "Synergizing Economic Opportunities Toward Shared Prosperity," signals an important shift among the Global South countries for breaking away from the dilemma of global governance.

The trilateral setup of the summit demonstrates the construction of integrated regional cooperation. Previously, China's cooperation with ASEAN and the GCC was mostly conducted through parallel bilateral mechanisms. Now, the summit has brought all three parties together on a single platform -- a significant move of the Global South toward an efficient, connected and more resilient cooperation network. By strengthening the coupling of industrial, innovation and capital chains, this trilateral synergy will spur growth among all three parties.

Both ASEAN and the GCC countries are key partners in Belt and Road cooperation. The trilateral cooperation model is set to drive stronger homegrown growth momentum through the alignment of development strategies, such as high-quality Belt and Road cooperation, the Master Plan on ASEAN Connectivity 2025 and the GCC countries' national development plans.

The summit represents another collective action of the Global South countries in the international arena. The initiatives proposed in the summit's Joint Statement, such as establishing a regional business council and advancing cross-border power trade, will further enhance economic cooperation and integration, as well as energy security and sustainability. The partnerships in areas such as artificial intelligence and blockchain technologies are also going to boost digital transformation and innovation.

NEW PATHWAY: MULTILATERALISM IN ACTION

The ASEAN-China-GCC Summit was held amid mounting tariff pressure from the United States. The triangular structure reflects broader and faster adjustments in the global economic and political patterns.

Amid rising protectionism and unilateralism, the three parties can unleash enormous market opportunities when continuing to open wider and remove barriers. Data clearly show that the three parties can foster extraordinary synergy when optimizing their combination of ample energy, strong manufacturing, and a vast market.

In this context, the tripartite cooperation is given dual missions.

For one thing, it can play a role in countering risks of decoupling and disruptions of industrial and supply chains, through upgrading free trade agreements and enhancing industrial chain resilience. For another, it can debunk the de-risking argument of the United States and the West, by reshaping the narrative of globalization through cross-regional market connectivity.

In conclusion, the ASEAN-China-GCC collaboration is good news for multilateralism and inclusive growth. Its goal is to not only promote regional economic cooperation, but also provide an Asian solution to inclusive globalization, while injecting new momentum for a peaceful, stable and sustainable world.

Editor's note: Zhong Guan is a PhD in international relations and a columnist of world affairs.

The views expressed in this article are those of the author and do not necessarily reflect the positions of Xinhua News Agency.