Singaporean PM: RCEP-GCC cooperation constructive for trade system

If formal cooperation can be established between the Gulf Cooperation Council (GCC) and the members of the Regional Comprehensive Economic Partnership (RCEP), it would help promote economic and trade exchanges between the two blocs and, in turn, uphold a rules-based trading system, Singaporean Prime Minister Lawrence Wong said on Tuesday.

Wong made the remarks when addressing the ASEAN (the Association of Southeast Asian Nations)-China-GCC (the Gulf Cooperation Council) Economic Forum 2025.

RCEP comprises 15 countries, including 10 countries of the ASEAN, as well as China, Japan, South Korea, Australia and New Zealand. The GCC is made up of Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman, and Bahrain. The two blocs combined account for about 35 percent of global GDP.

This accounts for a significant portion of the global economy, Wong said, adding that if we can promote trade and investment between the two groups, it would yield substantial benefits for all parties. 

Noting that the global environment has become uncertain, he said ASEAN and the GCC should strengthen our linkages in this turbulent world.