Negosyante News

May 29, 2025 5:21 pm

Marcos Calls on ASEAN, GCC to Broaden Trade Horizons and Tap Halal, Digital Sectors

KUALA LUMPUR — President Ferdinand “Bongbong” Marcos Jr. called on the ASEAN and Gulf Cooperation Council (GCC) to diversify their economic engagement, stressing that current trade relations remain confined to a narrow set of industries.

Speaking at the 2nd ASEAN–GCC Summit, Marcos said there is untapped potential in the partnership and urged both regions to go beyond conventional trade.

“Our trade remains limited in scope and focused on a narrow band of sectors. To unlock its full potential, we must expand our collaboration and build on our complementary strengths,” Marcos said.

He pointed to ASEAN’s dynamic digital economy and tech-savvy youth, which could align well with the GCC’s strongholds in energy, capital investment, and global logistics.

Marcos also spotlighted the global promise of the halal trade. ASEAN’s diverse halal food offerings and the GCC’s well-established consumer base and certification systems create a valuable opportunity to build a seamless halal value chain.

Beyond commerce, the President acknowledged the role of labor mobility in ASEAN-GCC ties. Over 2.7 million ASEAN citizens work across the Gulf states, including more than two million overseas Filipino workers.

“These workers are vital contributors not just to host economies, but also to those in the Philippines and across ASEAN,” he said, urging continued efforts in skills development and labor protection.

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