Hamad Al-Marzouk on Gulf-Asian Growth
The article highlights the strategic role of economic relations between the Gulf Cooperation Council (GCC) countries and Asia, particularly in the banking sector, trade, and investment. Hamad Al-Marzoq, Chairman of the Kuwait Banks Union, stated that the trade of goods between the Gulf countries and Asia reached $1.59 trillion in 2024, with China, India, Japan, and Korea accounting for approximately $659 billion of that figure. He also pointed out that the assets of Gulf banks amount to $3.9 trillion, offering significant potential to support financial cooperation and expand investments. Opportunities exist in technology and infrastructure across Asia, while Gulf countries possess strong capital bases and expertise in Islamic finance. He emphasized the importance of building long-term partnerships to promote sustainable growth and economic integration between the two regions through supporting projects, developing digital systems, and fostering innovation.
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