Riyadh: Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi highlighted the enduring GCC-US partnership of over four decades, built on mutual trust, shared values, and convergent interests.
According to Saudi Press Agency, he made these remarks during his keynote speech at the opening of the second Gulf Studies Symposium at Georgetown University in Washington, D.C. The event, organized by the university in collaboration with the Gulf International Forum and the Center for Contemporary Arab Studies, was attended by US administration officials, members of Congress, think tank representatives, and university faculty and students.
Highlighting the economic relations and mutual prosperity, Albudaiwi noted that trade between the GCC countries and the United States surpassed $90 billion in 2023. He further emphasized the GCC’s role in stabilizing global energy markets and supply chains, adding that significant and varied Gulf investments in the US complement the expanding presence of American companies in Gulf markets, demonstrating a dynamic and growing economic partnership.
He further noted that over 37,000 students from GCC countries are currently studying in American universities.
Albudaiwi emphasized the GCC’s emergence as a model of integration, resilience, and future leadership, boasting a population exceeding 57 million, with nearly half under 30, signifying a young and ambitious region on the cusp of transformation.
“The region’s GDP was approximately $2.1 trillion in 2023, with estimates suggesting it could reach $6 trillion by 2050,” he stated, adding: “Sovereign wealth funds manage over $3.2 trillion-about one-third of the global total-while our foreign reserves exceed $700 billion.”
He stressed that “despite our global leadership in oil and gas, our vision extends beyond that, as our countries invest in clean energy, artificial intelligence, digital economies, and space exploration. Our diversification strategies are ambitious, and our global aspirations and commitment to long-term sustainability are unwavering.”
Albudaiwi concluded by reaffirming the unwavering commitment of GCC leaders to strengthening cooperation with the United States across bilateral and multilateral relations, encompassing both government and the private sector, on strategic and humanitarian matters. He emphasized that the GCC-US partnership transcends agreements, representing a relationship founded on shared values, enriched by mutual experiences, and driven by a common vision.