China, ASEAN, Gulf Council declare for greater openness, cooperation

China

China, ASEAN, Gulf Council declare for greater openness, cooperation

2025-05-28 13:35 Last Updated At：18:47

The ASEAN-Gulf Cooperation Council (GCC)-China Summit, held in Malaysia's Kuala Lumpur, issued a declaration on Tuesday alleging greater economic integration, support for multilateral trade, and inclusive sustainable development.

The declaration said that the summit reaffirmed the World Trade Organization's central role in the multilateral trading system. It also welcomed the completion of talks for the upgraded China-ASEAN Free Trade Agreement, and urged swift progress on talks for a trade deal between China and six Persian Gulf countries.

The leaders pledged to deepen Belt and Road cooperation, focusing on seamless connectivity and infrastructure.

The statement also emphasized joint efforts to strive for a sustainable and inclusive energy transition under the Paris Agreement.

Other priorities included advancing digital economy, boosting innovation in emerging industries, strengthening food and agricultural cooperation, and expanding cultural and people-to-people exchanges.

OPEC+ to ramp up oil output in May amid global energy crisis

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, on Sunday decided to increase oil output by 206,000 barrels per day in May, according to an OPEC statement.

The decision was announced following a virtual meeting attended by Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, which reviewed global market conditions and outlook.

Amid the ongoing military conflict in the Middle East, the eight OPEC+ countries underscored the critical importance of safeguarding international maritime routes to ensure the free flow of energy supplies.

The eight countries also expressed concern over attacks on energy infrastructure, which harmed the overall supply availability. They stressed that it is both costly and takes a long time to restore damaged energy assets to full capacity.

They are scheduled to meet again on May 3 to make further decisions.

Since the U.S.-Israeli strikes on Iran beginning Feb 28, the conflict in the Middle East has severely disrupted regional energy flows, with crude oil and refined product shipments declining significantly.