SPIEF-2023: EAEU-ASEAN Business Dialogue

15 june 2023

The Russia-ASEAN Business Council and the Eurasian Economic Commission organized the EAEU-ASEAN Business Dialogue, which was held for the fifth time as part of the St. Petersburg International Economic Forum-2023. The event took place on June 15, 2023. The moderator of the business dialogue was the Chairman of the Russia-ASEAN Business Council Ivan Polyakov, who in his opening remarks noted that this year marks a double anniversary: the 5th anniversary of the signing of the Memorandum of Understanding between the Eurasian Economic Commission and ASEAN, as well as the 5th anniversary of the Strategic Partnership Russia–ASEAN.

Sergey Glazyev, member of the Board (Minister) for Integration and Macroeconomics of the Eurasian Economic Commission, noted that ASEAN is one of the most significant partners for the Commission in terms of the network of contractual and legal relations. Sergey Glazyev identified the issues of payments, clearing, insurance and crediting of foreign trade transactions, transport and logistics, as well as information exchange on trade, economic and investment opportunities of each other as the main obstacles in deepening economic cooperation between the EAEU and ASEAN

Deputy Secretary General for the ASEAN Economic Community Satvinder Singh spoke about how the digital and climate agendas are being implemented within the framework of ASEAN, and expressed the opinion that these areas are promising for further cooperation between the EAEU and ASEAN countries. Satvinder Singh noted that trade and economic cooperation between the EAEU and ASEAN is growing, so in 2021 the volume of trade amounted to more than $ 21 billion, which is 40% higher than the previous year.

The Minister of Investments and Foreign Economic Relations of the Republic of the Union of Myanmar, Dr. Kang Zo, stressed the importance of the Memorandum of Cooperation signed at the SPIEF site between the EEC and the Government of the Republic of the Union of Myanmar and expressed hope that the document would serve as an impetus for the development of comprehensive cooperation between the EAEU countries and Myanmar.

"In the context of population growth, the issues of ensuring food security and stable energy supplies are relevant. Russia has the necessary competencies and is ready to integrate into these processes in the region," Vladimir Ilyichev, Deputy Minister of Economic Development of Russia, said in his speech. He said that there are opportunities to increase exports to ASEAN countries of Russian energy resources, metals, agricultural fertilizers and food products according to Halal standards.

The Permanent Representative of Russia to ASEAN, Evgeny Zagainov, noted that in 2022, more than 50 events were held within the framework of the year of scientific and Technical cooperation between Russia and ASEAN. "A number of events in the field of cultural and humanitarian cooperation are planned for 2023, in addition, MGIMO is launching a master's degree program "Politics and Economics of the Russia—ASEAN Strategic Partnership" this year," Evgeny Zagainov said.

Chairman of the ASEAN Business Advisory Council, Chairman of the Chamber of Commerce and Industry of the Republic of Indonesia Arshad Rasjid noted that strengthening relations between ASEAN and the EAEU will contribute to the diversification of the economies of their participants, increase competitiveness and promote innovation.

The business dialogue was also attended by Ambassador Extraordinary and Plenipotentiary of the Republic of the Philippines to the Russian Federation Igor Baylen, Director General of the Russian Environmental Operator Denis Butsaev.

During the business dialogue, an active discussion of promising areas and initiatives to enhance mutually beneficial cooperation between the EAEU and ASEAN in the trade, economic, investment and scientific spheres took place, the participants exchanged views on removing obstacles in trade and economic relations and deepening direct dialogue between the business circles of the EAEU and ASEAN.