GCC-ASEAN Economic Center (GAEC), presently located in the Malaysia Industrial Development Authority (MIDA) Headquarters (www.mida.gov.my) in Kuala Lumpur Malaysia, was officially launched on 21August 2008. The Center was officially inaugurated by HE Tan Sri Muhyiddin Mohd Yassin, the Minister of International Trade & Industry of Malaysia (www.miti.gov.my).
The launching ceremony was also attended by HE Abdul Rahim Hassan Naqi, Secretary General of the Federation of GCC Chambers (FGCCC), HE Tan Sri Zainal Abidin Sulong, Chairman of MIDA, HE Datuk Jalilah Baba, Director General of MIDA, Mr. Hamad Ali Al-Sifran, CEO of International Gulf Cooperation Council (GCC) Trade Center and other dignitaries from Malaysia and other countries including all Ambassadors from GCC countries in Malaysia.
Prior to the launching Ceremony, the delegation from the GCC called on HE Dato’ Seri Abdullah Ahmad Badawi, the Prime Minister and Minister of Finance of Malaysia in his office at the Parliament building in Kuala Lumpur.
GAEC is supported by FGCCC, International GCC Trade Center and several agencies and conglomerates in GCC. GAEC also receives the necessary supports from the Gulf Cooperation Council (www.gcc-sg.org)
GAEC will operate as the sole and official representative office for the Federation of Gulf Cooperation Council Chamber (www.fgccc.org) and the International GCC Trade Center in the ASEAN region. FGCCC represents all federations of chamber of commerce & industry from all GCC countries including 760,000 registered corporations.
To enhance bilateral and multilateral economic and trade relations between the member states of the GCC and ASEAN with a view of establishing strong pillars for strategic partnership aiming at achieving economic integration which will help the social welfare of the people, peace and security of both regions.
To direct all efforts in the establishment of joint ventures and partnerships in the following fields:-
Oil and gas;
Trading;
Financing (banking, investment, insurance);
Food and agriculture;
Real estate;
Education
Others (e.g. information technology, tourism, etc.)
To act as a catalyst and as a bridge between the countries of both regions
To create ideas and plans in all fields of economic and social activities by identifying practical opportunities and adopting joint venture of mutual interests that enhances the development of economic activities of the countries in both regions.
