The cooperation between Asean member countries and the Gulf Cooperation Council countries will open more opportunities for bilateral trade and investment between the two blocs.
“Malaysian companies that will cooperate with local companies in Saudi Arabia can also export their expertise and capital to assist the investments in the kingdom. Tengku Zafrul also announced that Prime Minister Datuk Seri Anwar Ibrahim in his working visit in conjunction with the Asean-GCC Summit will also have a meeting with the biggest player in the oil and gas industry in Saudi Arabia, namely Saudi Aramco, and Public Investment Fund , the kingdom’s sovereign wealth fund, which are valued at almost US$1 trillion to broaden the bilateral investments.
In terms of investment, at present, the UAE is the largest investor in Malaysia from West Asia and is the second biggest among the Organisation of Islamic Cooperation countries.