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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

Somalia Cancels All UAE Deals

A meeting of the Somali government. (Somali National News Agency)
A meeting of the Somali government. (Somali National News Agency)
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Somalia Cancels All UAE Deals

A meeting of the Somali government. (Somali National News Agency)
A meeting of the Somali government. (Somali National News Agency)

Somalia's government said on Monday that it was annulling all agreements with the United Arab Emirates, including port deals and defense and ‌security cooperation, ‌citing ‌evidence ⁠the UAE had ‌undermined its national sovereignty. 

"The Council of Ministers has annulled all agreements concluded with the United Arab Emirates, ⁠including those involving federal governmental ‌institutions, affiliated entities, and ‍regional administrations ‍operating within the territory ‍of the Federal Republic of Somalia," a statement from Somalia's Council of Ministers said. 

"This decision applies to all agreements ⁠and partnerships relating to the ports of Berbera, Bosaso, and Kismayo ... (and) bilateral security and defense cooperation agreements," the statement added. 

Gulf

Somali Foreign Minister: Any Unilateral Recognition of Breakaway Regions Is Unviable

Somali Foreign Minister Abdisalam Abdi Ali (Somali Foreign Ministry)
Somali Foreign Minister Abdisalam Abdi Ali (Somali Foreign Ministry)
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Somali Foreign Minister: Any Unilateral Recognition of Breakaway Regions Is Unviable

Somali Foreign Minister Abdisalam Abdi Ali (Somali Foreign Ministry)
Somali Foreign Minister Abdisalam Abdi Ali (Somali Foreign Ministry)

At a highly sensitive regional juncture, Somali Foreign Minister Abdisalam Abdi Ali issued a clear warning against any unilateral recognition of breakaway regions, describing such moves as unviable and politically irresponsible, with negative repercussions for bilateral relations and regional stability.

In an interview with Asharq Al-Awsat, Ali stressed the alignment between Mogadishu and Riyadh on the need to shield the Red Sea and the Gulf of Aden from militarization, illicit activities and geopolitical rivalries.

He said his second visit to Saudi Arabia within two weeks reflects the depth of coordination with the Kingdom amid rapidly evolving regional developments, particularly those related to maritime security and the Horn of Africa.

Objectives of the Saudi visit

Ali said the primary aim of his visit was close consultation with Saudi Arabia on accelerating regional developments, notably those affecting the Red Sea, the Horn of Africa and maritime navigation security.

He added that discussions also focused on strengthening bilateral cooperation across political, economic, security and development fields, while ensuring full coordination on issues touching on Somalia’s sovereignty, unity and stability.

He noted that the visit — his second to Riyadh in less than two weeks — underscored the intensity of engagement with the Kingdom at a delicate moment, saying that his previous meeting with Saudi Foreign Minister Prince Faisal bin Farhan featured frank and constructive talks aimed at preventing escalation, maintaining regional balance and upholding international law.

Ali also highlighted the convening of an emergency meeting of foreign ministers of the Organization of Islamic Cooperation (OIC) to address what he described as the “illegal violation of Somalia’s sovereignty, unity and territorial integrity,” calling it further evidence of Saudi Arabia’s pivotal role in supporting regional stability.

Historic relations

The foreign minister described relations between Somalia and Saudi Arabia as “strong, historic and strategic,” grounded in shared faith, longstanding people-to-people ties and converging regional interests.

He said Somalia views the Kingdom as a key partner in national recovery, security-sector reform, economic stabilization and regional diplomacy, adding that current discussions are focused on translating this partnership into tangible outcomes that benefit both countries and reinforce wider regional stability.

Firm rejection of recognition of “Somaliland”

Ali stressed that the Somali federal government “categorically rejects” any declaration or action aimed at recognizing any part of Somalia as a separate entity. Such steps, he said, lack any legal basis, violate Somalia’s sovereignty and territorial integrity, and contravene international law, the UN Charter, the OIC charter and African Union principles.

He expressed Somalia’s appreciation for Saudi Arabia’s principled stance in support of Somali unity, as well as for regional and international partners that have voiced solidarity with Mogadishu.

He warned that unilateral recognition would not merely be a political position but a “destabilizing precedent” threatening the regional order. He added that Somalia is addressing the issue through balanced diplomacy and close coordination with regional and international partners.

A pivotal and constructive Saudi role

Ali said Saudi Arabia plays a “pivotal and constructive” role in promoting stability and security in the Arab world, the Red Sea region and the Horn of Africa, noting that its leadership in diplomacy, de-escalation and maritime security is widely recognized and appreciated.

Potential repercussions

The foreign minister warned that any unilateral recognition of Somaliland would be “legally and practically null and void,” further exacerbating fragility in a region already facing serious security, humanitarian and climate challenges. He said that such moves encourage fragmentation, fuel proxy conflicts and open the door to external interference, undermining the security of the Horn of Africa and international maritime navigation.

Militarization of the Red Sea

Ali said Mogadishu and Riyadh share a vital interest in protecting one of the world’s most strategic maritime corridors, stressing the need to keep the Red Sea and the Gulf of Aden free from militarization and illegal activities.

“We agree on the necessity of keeping the Red Sea and the Gulf of Aden away from militarization, illicit activities and geopolitical brinkmanship,” he underlined.

 

 

Gulf

New KSrelief Aid Convoy Crosses Rafah to Deliver Food Baskets to Gaza

The latest KSrelief convoy was carrying food baskets for the people of Gaza. (SPA)
The latest KSrelief convoy was carrying food baskets for the people of Gaza. (SPA)
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New KSrelief Aid Convoy Crosses Rafah to Deliver Food Baskets to Gaza

The latest KSrelief convoy was carrying food baskets for the people of Gaza. (SPA)
The latest KSrelief convoy was carrying food baskets for the people of Gaza. (SPA)

A new humanitarian aid convoy from the King Salman Humanitarian Aid and Relief Center (KSrelief) crossed the Rafah border into Gaza on Friday with essential food baskets for Palestinians affected by the ongoing crisis, as part of the Saudi fundraising campaign to aid the Palestinian people.

The Saudi Center for Culture and Heritage, KSrelief’s implementing partner, has established several new camps in Al-Qarara area of southern Gaza and Al-Mawasi area of Khan Younis in preparation for winter.

Through these efforts, KSrelief aims to alleviate the severe suffering caused by the dire living conditions in Gaza, ensuring that vital food and shelter reach those in the most vulnerable areas.