THE world has changed. Old certainties are giving way to new realities, and partnerships between regional blocs are today of the essence in playing more active roles in tackling the challenges before us.

The global financial crisis clearly underlines the need to review our priorities and our policies to take account of the shifting economic structures in light of this crisis. The emergence of the G20 as a global player of real weight is just one example.

For the 10 member countries of ASEAN, a political, trade investment and cultural partnership with the Gulf Cooperation Council (GCC) – made up of the six Arabian Gulf nations of United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait – offers strong opportunities.

This is the thinking behind the First GCC-ASEAN Ministerial Meeting, which is scheduled to be held on June 29 and 30 in Manama, Bahrain.

GCC-ASEAN cooperation must be focused and nuanced, prioritising the promotion of international peace and security, alleviation of poverty, human resource development, enhancement of trade and investment, protection of the environment and sustainable development, the fight against terrorism and extremism, and the encouragement of cultural and media exchange and cooperation.

We have a packed agenda to explore. But issues of particularly pressing importance for our discussions include energy and food security and sustainable development, not to mention coordinating positions in international forums. In a world that too often succumbs to short-term fads and fancies, we are determined to build solidly for the long term.

Furthermore, our two economic blocs are growth centres for the new global economy. Together we have the potential to be among the leaders of renewed international economic growth, for the benefit of all countries in our regions and beyond.

Already we in the GCC add up collectively to a single market worth around US$1 trillion. And that is just a beginning. By 2020, according to the calculations of the Economist Intelligence Unit, our common Gulf market will have doubled again in size to $2 trillion. That is two trillion reasons for ASEAN to form a future partnership with us.

We are committed to open markets, and trading and investing across frontiers. We are not protectionist by temperament. We are careful not to over-borrow, and to treat complex financial instruments with the caution that they have been shown to deserve.

We are just as committed as ASEAN to making sure that the GCC succeeds. Our aims are ambitious but – based on our track record already – they are attainable in a very short space of time.

This is the encouraging background to our joint ministerial retreat – this informal yet, I am sure, effective dialogue between ASEAN and the GCC to draw up a realistic roadmap towards a practical working relationship between our countries and people. We are looking at dynamic action and measures to turn our common aspiration into clear and tangible benefits for both sides.

A partnership between the GCC and ASEAN will be no surprise to anyone who knows our mutual history. We in the GCC are Asian and proud of it.

For thousands of years our two regions have traded with each other and embraced our respective cultures. Then, as now, our relations were not just between governments. Enterprising entrepreneurs developed profitable ties with each other, and long-lasting personal friendships between our people were forged. As we move towards stronger political, cultural and economic cooperation, including a historic free trade agreement, we will be encouraging our people to find new ways to work together for the benefit of both regions.

At the public and private levels, we hope to see joint ventures spring up in banking and finance, trade and technology, and education and culture.

Each GCC country already has its own links with ASEAN. Speaking for Bahrain, I pay tribute from direct experience to the drive and enterprise of our ASEAN trade partners.

As the main banking centre in the Middle East and North Africa (MENA) region, much of our cooperation has focused on banking and financial services.

For example, we in Bahrain have exchanged ideas very profitably with ASEAN financial institutions on Islamic finance – which we have jointly nurtured to become one of the fastest growing and most ethical forms of finance in the world.

This is a classic illustration of how working together enables both sides to obtain greater benefits than if we acted alone.

That is why I feel privileged to have initiated the ministerial meeting so that we can tap into the political, economic and cultural potential before us.

A partnership between ASEAN and the GCC is an idea whose time has come. – Sh. Khalid Bin Ahmed Bin Mohamed Al Khalifa, Minister of Foreign Affairs of the Kingdom of Bahrain.