The Gulf Cooperation Council has evolved into a formidable global investment destination, backed by political stability, strategic geography and financial firepower that few regions can match, Secretary General Jasem Albudaiwi declared at the Milken Institute Middle East and Africa Summit in Abu Dhabi.
“The Gulf economy is entering a strong and sustainable period supported by economic reforms and strategic investment in future sectors,” Albudaiwi told the summit’s opening session, framing the bloc’s trajectory as structural rather than cyclical.
GCC strengthens role in global economy
The GCC’s combined GDP reached $2.3 trillion in 2024, ranking ninth globally and representing 63 per cent of the entire Arab economy. More significantly, non-oil sectors now contribute over 76 per cent of that output, evidence diversification strategies are delivering results.
GCC financial markets are valued at more than $4.2 trillion, with banking assets of $3.5 trillion and reserves approaching $800 billion.
Sovereign wealth funds across the bloc exceed $4.8 trillion, a war chest that positions Gulf states as stabilising actors in volatile global markets.
The GCC is currently negotiating free trade agreements with the UK, China, Turkey, Japan, Indonesia, New Zealand, Pakistan and South Korea.
Albudaiwi said these agreements aim to expand trade flows, diversify income sources and open new markets for Gulf products while enhancing competitiveness and reducing consumer prices.
Beyond trade, the bloc is positioning itself at the forefront of technological transformation.
Albudaiwi outlined an aggressive artificial intelligence agenda, with the GCC viewing AI as central to economic and social change.
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