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Saudi and Gulf state trade with emerging Asia to rise 60% by 2030

U.K. think tank says 'uptick in political engagement' boosts economic ties

Containers at Khalifa Port, Abu Dhabi. An uptick in political engagement between key Asian and Gulf economies noted by experts is expected to result in tangible deals that will drive trade growth.   © Reuters

TOKYO -- Trade between emerging Asia and the Gulf nations will grow about 60% to $578 billion by 2030, according to a report released last week, reflecting their increasingly closer relationships amid a changing geopolitical landscape.

While Gulf nations are aiming to diversify their economies away from a dependence on oil, they are also seeking to strengthen the security of food and other supplies in the wake of the Russia-Ukraine conflict. The study also points out that such moves by Gulf nations are opening up new opportunities for emerging Asian countries.

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