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Albudaiwi: GCC is a Global Investment Magnet, Driven by Stability and Economic Strength

Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC
Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC
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Albudaiwi: GCC is a Global Investment Magnet, Driven by Stability and Economic Strength

Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC
Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi stated that the strategic geographical location, political stability, and strong economic foundations of the Gulf states, coupled with the acceleration of Gulf integration projects, make the GCC a global destination attractive for investment and a key platform for international partnerships.

These factors, he added, enhance the status of the council states as a major player in shaping the future of the global economy, reported the Saudi Press Agency on Thursday.

The secretary-general's remarks were made during his participation in the opening session of the seventh Milken Institute Middle East and Africa Summit, held in Abu Dhabi, United Arab Emirates.

Reviewing global economic transformations, Albudaiwi emphasized that the Gulf economy is undergoing a strong and sustainable phase, reflecting the success of economic reforms and strategic investments in future sectors.

He said that the Gross Domestic Product (GDP) of the GCC states reached approximately $2.3 trillion in 2024, positioning the council states in ninth place globally and accounting for 63% of the total Arab economy. He added that the contribution of non-oil sectors exceeded 76% of the GDP, an indicator reflecting the success of economic diversification policies.

Albudaiwi also pointed to the strength and stability of the GCC financial sector, which boasts a market value exceeding $4.2 trillion, banking assets amounting to $3.5 trillion, and reserves approaching $800 billion. This is in addition to sovereign wealth funds exceeding $4.8 trillion, a fact that solidifies the council states' position as a key player in enhancing global economic stability, he stressed.

The secretary-general revealed that the GCC states are negotiating free trade agreements (FTAs) with numerous international partners, including the United Kingdom, China, Türkiye, Japan, Indonesia, New Zealand, Pakistan, and Korea. These negotiations aim to enhance trade and investment flows, diversify income sources, and open new markets for Gulf products, thereby elevating competitiveness and reducing consumer prices within the GCC states.

Regarding artificial intelligence, he confirmed that the GCC states treat AI as a fundamental pillar for economic and social transformation.

The General Secretariat has adopted several regulatory frameworks and guiding principles, including the Guiding Framework for AI Ethics (2024), the General Framework for AI Applications in Public Services (October 2025), and the General Framework for Climate Forecasting and Disaster Management using AI (October 2025). Furthermore, the comprehensive Gulf Strategy for Artificial Intelligence is set to be adopted in December 2025.

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Gulf

Mohammed bin Salman, Zelenskyy Discuss Regional Developments, Ukraine Crisis in Jeddah

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, and Ukrainian President Volodymyr Zelenskyy meet in Jeddah on Friday. (SPA)
Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, and Ukrainian President Volodymyr Zelenskyy meet in Jeddah on Friday. (SPA)
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Mohammed bin Salman, Zelenskyy Discuss Regional Developments, Ukraine Crisis in Jeddah

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, and Ukrainian President Volodymyr Zelenskyy meet in Jeddah on Friday. (SPA)
Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, and Ukrainian President Volodymyr Zelenskyy meet in Jeddah on Friday. (SPA)

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, held talks in Jeddah on Friday with Ukrainian President Volodymyr Zelenskyy on bilateral relations between their countries.

They also tackled regional and international developments, particularly the military escalation in the Middle East and the latest developments in the Ukrainian crisis.

The meeting was attended by Saudi Minister of State, Member of the Cabinet, and National Security Advisor Dr. Musaed bin Mohammed Al-Aiban; Minister of Environment, Water and Agriculture Abdulrahman Alfadley; President of the General Intelligence Presidency Khalid bin Ali Al-Humaidan; and Saudi Ambassador to Ukraine Mohammed Al-Barakah.

Also present were Ukraine’s Secretary of the National Security and Defense Council Rustem Umerov; First Deputy Head of the Presidential Office Serhii Kyslytsia; Chief of the General Staff of the Armed Forces Lieutenant General Andriy Hnatov; Ambassador of Ukraine to the Kingdom Anatolii Petrenko; and Deputy Secretary of the National Security and Defense Council Davyd Aloyan.

Zelenskyy had arrived in the Kingdom on Thursday.

Gulf

How Gulf States View War Outlook, US-Iran Talks

Flags of Gulf Arab states at an event (AFP)
Flags of Gulf Arab states at an event (AFP)
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How Gulf States View War Outlook, US-Iran Talks

Flags of Gulf Arab states at an event (AFP)
Flags of Gulf Arab states at an event (AFP)

Gulf Cooperation Council countries, under sustained Iranian attack, are closely tracking indirect US-Iran talks that Pakistan said on Thursday it is facilitating by relaying messages between the two sides.

Data monitored by Asharq Al-Awsat showed that by Wednesday evening, about 83% of Iran’s missile and drone attacks since the war entered its fourth week had targeted Gulf Arab states, compared with 17% aimed at Israel.

The tally recorded 4,391 missiles and drones striking Gulf countries, hitting critical infrastructure and civilian sites, versus 930 launched at Israel, which is leading the war.

Shaping the next phase

Gulf states on Thursday began to outline their stance on any negotiations over the conflict’s future.

Jasem Albudaiwi, Secretary-General of the Gulf Cooperation Council, said the bloc must be included “in any talks or agreements to resolve this crisis,” to safeguard security and prevent further attacks.

He rejected any frameworks, initiatives, or regional arrangements aimed at reshaping the Middle East after this conflict ends, underscoring Gulf insistence on a role in defining the region’s next phase.

Diplomacy first

Albudaiwi said international law allows states multiple options under the UN Charter, but stressed that the most rational and effective option is the diplomatic and political one.

Ahmed Al-Ibrahim, a political analyst specializing in US affairs, said Gulf states view US-Iran talks with cautious realism.

They do not oppose negotiations, but want outcomes that address what they see as the core threat, not only Iran’s nuclear program, but also its ballistic missiles and regional influence in Yemen, Lebanon, and Iraq.

A joint statement by five Gulf states and Jordan on Wednesday condemned attacks by Iran-aligned factions in Iraq on regional countries and infrastructure. It urged Baghdad to act immediately to halt such attacks launched from its territory and avoid further escalation.

Trust frays

Al-Ibrahim said Gulf confidence in both sides is limited. That view was reinforced by remarks from the Saudi foreign minister last week that “trust in Iran has been shattered.”

Al-Budaiwi said GCC states were surprised by US-Israeli strikes on Iran and had made clear they would not take part in military action or allow their territory to be used against Iran.

Despite that, Tehran still carried out what he described as a “treacherous attack” on GCC states.

He expects Gulf countries to pursue a dual track, backing de-escalation while strengthening defenses and expanding security partnerships. The Gulf, he said, rejects “incomplete deals” that fail to change Iran’s behavior or ensure regional security.

Seat at the table

Gulf security specialist Dhafer Al-Ajmi said GCC participation in any US-Iran talks on regional security is a “sovereign right,” not a request.

“We will not accept having our future shaped in our absence. Our seat at the table is the only guarantee for real and lasting peace,” he said.

Al-Ajmi said Gulf states have borne the brunt of the war’s costs and tensions. Their participation, he said, aims to secure binding guarantees to protect livelihoods and stability.

Any deal that ignores sovereignty and non-interference would be “incomplete and doomed to fail.”

Political analyst Ibrahim Raihan said Gulf states, while showing “wisdom” in handling the crisis, support de-escalation in principle. But he said the root problem remains Iran’s conduct, particularly violations of Gulf sovereignty, despite efforts before the war to avert conflict.

Three demands

Raihan said both Iran and Israel are seeking to widen the war. He outlined three priorities for any negotiations: de-escalation, guarantees to protect shipping routes, and a clear Iranian apology to neighboring Arab states for violations of their sovereignty.

Separately, the United Nations Human Rights Council on Wednesday condemned Iranian attacks on Gulf states as “egregious” and called on Tehran to provide swift compensation to those affected.

Gulf

Albudaiwi: Regional Arrangements Excluding Gulf States Are Rejected

Albudaiwi affirmed that Gulf states had long been a pillar of regional and global stability (GCC)
Albudaiwi affirmed that Gulf states had long been a pillar of regional and global stability (GCC)
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Albudaiwi: Regional Arrangements Excluding Gulf States Are Rejected

Albudaiwi affirmed that Gulf states had long been a pillar of regional and global stability (GCC)
Albudaiwi affirmed that Gulf states had long been a pillar of regional and global stability (GCC)

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi on Thursday called for Gulf states to be included in talks or agreements to resolve the crisis between Iran and the US and Israel.

“We stress the importance of involving GCC countries in any talks or agreements to resolve this crisis, in a way that contributes to strengthening their security and stability,” said Albudaiwi.

He added that the bloc rejected “any arrangements intended to redraw the map of the Middle East after the conflict ends.”

He said the GCC’s first choice was a diplomatic and political solution, describing it as “the wisest and most successful option,” while noting that Gulf states were reviewing all options in line with international law and the UN Charter.

Speaking in Riyadh to Arab and foreign ambassadors, Albudaiwi urged partners to send a unified international message to Iran demanding an immediate and unconditional halt to attacks on GCC states.

He said the Gulf’s goal “has never been to destroy Iran or weaken it, but to reach a normal relationship based on mutual respect, non-interference and non-aggression.”

He rejected framing the situation as part of “Middle East complexities,” calling it “a blatant violation of international law” and “a systematic targeting” of states not involved in any conflict.

Albudaiwi said Gulf states would not accept becoming targets of aggression (GCC)

Albudaiwi said GCC states had long been a pillar of regional and global stability, a reliable energy source, and a responsible economic partner. But he said they would not accept becoming targets of aggression, arenas for regional rivalries, or seeing their citizens killed without accountability.

He said Iranian attacks over 25 days had exceeded 5,000 ballistic missiles and drones targeting GCC states.

Albudaiwi revealed that 85% of Iranian missiles launched in the war were aimed at Gulf states.

He praised Gulf air defenses for limiting the impact of the attacks, but said that this does not diminish the scale of the aggression or absolve Iran of full responsibility.

He said Iran had “crossed every line” by closing the Strait of Hormuz, blocking commercial ships and oil tankers, and imposing transit fees, in violation of international law.

He also cited repeated ship hijackings and attacks carried out through Iran’s regional proxies.

He warned that disruption to shipping would hit not only Gulf states but the global economy, especially as some countries face oil and gas shortages.

Albudaiwi explained that maritime passages are governed by international agreements, and no party can obstruct them or impose conditions.

The impact of closing the Strait of Hormuz may begin with higher energy prices, but its cumulative repercussions on the global economy, energy markets, marine insurance, and civil aviation would be catastrophic.

“What happens in the Strait of Hormuz does not stay in the Strait of Hormuz,” he added.

Albudaiwi said Gulf states were surprised by US and Israeli strikes on Iran, stressing they had made clear they would not take part in military action or allow their territory to be used against Iran, and had informed Tehran of that.

“Yet this position did not prevent it from attacking GCC states,” he said.

He said GCC states had shown restraint and chosen not to respond to avoid widening the conflict, and in the hope that Iran would come to its senses and stop these attacks.

He said Gulf states produce about 16 million barrels per day of crude oil, or 22% of global output, and account for 27% of global oil exports, or 11.5 million barrels per day.

They also hold 33% of global oil reserves and 21% of natural gas reserves.

These figures make the Gulf an indispensable pillar of the global economy, Albudaiwi affirmed, warning that any disruption would directly affect energy security and global economic stability.