Chairman of the Kuwait Banking Association (KBA), and Chairman of Kuwait Finance House Group (KFH Group), Hamad Abdulmohsen Al-Marzouq, emphasized the growing strategic importance of GCC-Asia relations and the pivotal role of the banking sector in strengthening economic integration between the two regions. He made these remarks in his opening address at the GCC-Asia Economic Forum: Banking, Investment and Digital Infrastructure, held in Bangkok on the sidelines of the 2026 IMF–World Bank Annual Meetings.

The forum was attended by a distinguished group of officials, including H.E. Jasem Mohamed Al-Budaiwi, Secretary General of the Cooperation Council for the Arab States of the Gulf, H.E. Dr. Yaqoub Yousef Al-Refaei, Minister of Finance of the State of Kuwait, H.E. Suphajee Suthumpun, Deputy Prime Minister & Minister of Commerce of the Kingdom of Thailand, H.E. Basel Ahmed Al Haron, Governor, Central bank of Kuwait; and their Excellencies, the Governors and Ambassadors of the GCC Member States, together with industry leaders, bank executives, asset managers, and technology innovators from across the GCC and Asia.

In his remarks, Al-Marzouq emphasized that the long-standing relationship between the GCC and Asia continues to evolve into deeper partnerships that drive investment, trade, and economic growth. He noted that both regions are increasingly contributing to global stability and resilience while adapting to ongoing economic challenges.

Highlighting the strength of economic ties between the two regions, Al-Marzouq noted that, according to GCC-Stat, total GCC merchandise trade reached approximately US$1.59 trillion in 2024. China, India, Japan and South Korea accounted for approximately US$659 billion of that trade. China was the GCC's largest trading partner at approximately US$299 billion, followed by India at US$158 billion, Japan at US$114 billion, and South Korea at US$88 billion. Collectively, these four Asian economies represented around 41.5% of the GCC's total external merchandise trade in 2024.

He stressed that the GCC's relationship with Asia remains a strategic priority, supported by growing trade volumes, increasing investment flows, and the active role of financial institutions in financing large-scale infrastructure, energy, and connectivity projects that will underpin future economic growth.

Al-Marzouq also highlighted the strength of the GCC banking sector, noting that GCC-Stat reported total assets of commercial banks across the GCC at approximately US$3.9 trillion in 2025, while net foreign assets stood at approximately US$837 billion. These figures, he said, demonstrate the significant capacity available to support trade, investment, and financial connectivity with Asian markets.

He further noted that GCC financial institutions benefit from strong balance sheets, sound regulatory frameworks, and high levels of liquidity, positioning them to act as key catalysts in advancing the GCC–Asia partnership through support for cross-border investment, trade finance, and financial innovation.

Discussing the complementary strengths of both regions, Al-Marzouq stated that Asia offers significant opportunities in technology and infrastructure, while the GCC contributes long-term capital, strong risk management capabilities, and global expertise in Islamic finance. Together, these strengths create substantial opportunities to promote cross-border growth, unlock new investments, and generate shared prosperity.

Looking ahead, Al-Marzouq emphasized that the objective extends beyond facilitating individual transactions toward building long-term partnerships. He stressed the need for enhanced collaboration across financial sectors, including project financing, expansion of sukuk markets, support for new investment opportunities, and development of digital systems that strengthen economic connectivity.

He added that combining the GCC's strong capital base with Asia's technological innovation can help establish a seamless economic corridor that encourages investment, drives innovation, and supports sustainable growth across both regions.

Concluding his remarks, Al-Marzouq noted that the gathering of leaders and decision-makers at the forum provides a valuable opportunity to deepen cooperation, increase investment, and create lasting economic benefits for both the GCC and Asia.