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LoginGCC Chief: GCC States Moved Beyond Being Energy Suppliers, Became Influential Partner in Global Economic and Political Landscape
Abu Dhabi, September 07 (QNA) - Secretary General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudaiwi affirmed that the GCC member states have moved beyond their role as energy suppliers and have become an influential partner in shaping the global economic and political landscape.
He noted that viewing the Gulf region solely through the lens of oil and energy no longer reflects the scale of the transformations witnessed across the GCC states, nor their growing standing in the global economy, trade, investment, technology, and supply chains.
His remarks came during his participation in the opening panel discussion of the third edition of the Hili Forum in Abu Dhabi.
The GCC Secretary General highlighted that energy and energy security remain fundamental pillars of the global economy, with the GCC states producing around 16.6 million barrels of crude oil per day, representing approximately 22.2 percent of global production. He further underlined that the economic transformations witnessed by the GCC states have contributed to diversifying their production bases, with the non-oil sector now accounting for more than 78 percent of the GCC economy and recording a growth of 5.3 percent in 2025.
"The GDP of the GCC states reached around USD 2.4 trillion, while the assets of GCC sovereign wealth funds are close to USD 5 trillion. In addition, foreign merchandise trade reached around USD 1.6 trillion in 2024. These indicators reflect the transition of the GCC states from being major energy suppliers to active partners in shaping the future of the global economy and enhancing its stability and prosperity," Albudaiwi explained.
Moreover, he stated that the foreign policies of the GCC states are built on mutual respect and a genuine commitment to the principles of good neighbourliness, in accordance with international and UN principles and laws.
"The GCC has become a model to be emulated among countries and regional and international organisations around the world. Despite the relatively short period since the establishment of the Council, its states have achieved significant and valuable accomplishments across many areas for their peoples," he added.
Albudaiwi concluded his address by affirming that continuous coordination among member states on regional and international issues and developments represents a fundamental pillar in addressing challenges, as well as in dealing with all regional and international changes. (QNA)
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