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

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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