Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi affirmed that GCC countries hold a significant economic status globally, with the GDP reaching approximately USD2.1 trillion in 2023.
AlBudaiwi projected the GDP of GCC countries will reach $6 trillion by 2025.
The Secretary-General’s remarks came as he participated in the Gulf dialogue session, held as part of the Asian Financial Forum 2025 sessions in Hong Kong, with the participation of the Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region and a number of senior economic officials from the GCC countries.
The total sovereign financial assets in the GCC countries amounted to around $3.2 trillion, accounting for 33% of the total sovereign assets worldwide, Albudaiwi added.
Albudaiwi highlighted that the GCC countries hold the top global ranking in crude oil reserves and production, and also lead in natural gas reserves, while ranking third globally in natural gas production.
He underscored that the GCC’s balanced policies have contributed to the stability of energy markets by providing secure and stable supplies of oil and gas to global markets.
The Secretary-General mentioned that the GCC's significant economic potential creates numerous opportunities for cooperation with Hong Kong, a leading Asian financial center.
