Saudi Gazette report

RIYADH — Saudi Crown Prince Mohammed bin Salman has called for creating conditions that lead to stability in Gaza and lasting peace that ensures a just solution to the Middle East conflict by establishing a Palestinian state within the 1967 borders.

Prince Mohammed affirmed the Kingdom's categorical rejection of targeting civilians under any pretext and stressed the importance of adhering to international humanitarian law and the need to stop military operations against civilians and their infrastructure that directly affects their lives.

The Crown Prince made the remarks during his opening speech at the GCC-ASEAN summit in Riyadh on Friday.

"As we are holding this meeting, we are pained by the escalation of the ongoing violence in Gaza, the price of which is being paid by innocent civilians," he said.

Deputizing for Custodian of the Two Holy Mosques King Salman, Prince Mohammed chaired the Riyadh Summit of the Gulf Cooperation Council (GCC) and the Association of Southeast Asian Nations (ASEAN).

The Crown Prince received the leaders and heads of delegations participating in the summit upon their arrival at the summit's venue. The Crown Prince, and GCC and ASEAN leaders took a group photo before the summit.

At the outset of the summit, verses of the Holy Qur'an were recited, then the Crown Prince delivered the opening speech.

He said: "On behalf of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, I am delighted to welcome you to the Kingdom of Saudi Arabia. We are pleased to hold this summit that is a testimony to the friendship and cooperation between the GCC states and ASEAN.

"Our meeting today aims to further develop cooperation and partnership in a way that fulfills the interests of peoples, increases opportunities for development, and consolidates security and stability."

He added: "The GCC-ASEAN countries have achieved a milestone in economic development, with the collective GDP of our countries exceeding $7.8 trillion. We have witnessed economic growth that has increased our countries' contribution to the global GDP; the economies of the GCC and ASEAN countries have grown by 7.3% and 5.7%, respectively in 2022, motivating us to work together toward a more prosperous economy."

The growing GCC-ASEAN trade relations are evident: the volume of trade with the ASEAN countries, amounting to $137 billion, has reached 8% of GCC's global trade; the GCC exports to the ASEAN countries constitute 9% of its total exports; the GCC imports from ASEAN amount to 6% of the total GCC imports.

Over the past 20 years, the GCC invested 4% of its total foreign investments in ASEAN countries, amounting to $75 billion. The ASEAN investment in the GCC accounts for 3.4% of the total foreign direct investments in the GCC countries, amounting to $24.8 billion.

"We look forward to strengthening our economic relations, taking advantage of the available opportunities, and opening new scopes of cooperation in all fields, in light of the human resources, commercial opportunities, and promising investment projects that our countries possess."

Prince Mohammed commended "the level of coordination and cooperation our countries enjoy when it comes to international developments," while reaffirming the keenness to further advance joint action "to realize our goals and meet the aspirations of our peoples."

The Crown Prince appreciated ASEAN countries' support for the Kingdom's bid to host the Expo 2030 in Riyadh.

"The joint GCC-ASEAN action plan for 2024-2028 sets out a clear road map for increasing cooperation and partnership, which we are all keen to do, in various fields in order to serve our interests," he said.

He pledged that GCC countries will continue to be safe and reliable sources of energy, and contribute to maintaining the stability of global energy markets. "We are striving, at an accelerated pace, to meet, in a sustainable way, the requirements for developing clean, low-carbon energy technologies and petrochemical supply chains," Prince Mohammed said.

"We also look forward to achieving the maximum benefit from logistical resources and infrastructure, to expanding cooperation in tourism and cultural activities, enhancing communication among our peoples and establishing partnerships among the business sectors in our countries, to contribute to achieving the goals of our ambitious visions for a better future of prosperity, development and progress."