EEF-2023: Russia-ASEAN Business Dialogue

11 september 2023

The Russia-ASEAN Business Council organized the Russia-ASEAN Business Dialogue on September 11, 2023 within the framework of the Eastern Economic Forum-2023 in Vladivostok.

Within welcome remarks, moderator of the business dialogue, Chairman of the Russia-ASEAN Business Council Ivan Polyakov noted that 2023 marks the fifth anniversary of the increase in cooperation between Russia and ASEAN to the level of strategic partnership. He stressed that Russia is currently paying special attention to creating additional incentives for deepening and diversifying trade, economic and investment cooperation with ASEAN member states.
The President of the Chamber of Commerce and Industry of Russia Sergey Katyrin in his speech drew attention to the need to build new transport and logistics chains and deepen financial and banking cooperation. According to Sergey Katyrin, joint projects in the field of renewable energy sources, smart cities, and modernization of transport infrastructure are prospective.

"Cooperation between Russia and ASEAN is carried out in accordance with a comprehensive action plan, the implementation of which will allow achieving new mutually beneficial results. The volume of bilateral trade between ASEAN and Russia in 2022 amounted to $ 15.5 billion, and foreign direct investment from Russia to ASEAN countries amounted to $ 159 million, despite the disruption of supply chains, inflation and financial instability," Kang Zo, Minister of Investment and Foreign Economic Relations of the Republic of the Union of Myanmar, said during his speech.

Nikolay Volobuev, Deputy General Director of the Rostec State Corporation, Chairman of the Russian-Singapore Business Council, informed the meeting participants that a project is currently being implemented to create an international industrial information and service electronic B2B platform. "On the basis of the platform, integration with regional financial and insurance services will take place, new methods of international settlements between Russian and regional business communities will be developed," Nikolay Volobuev said.

Ambassador Extraordinary and Plenipotentiary of the Republic of the Philippines to Russia Igor Baylen noted that the Philippines highly appreciates the memorandum of cooperation signed between the Eurasian Economic Commission and Myanmar and the Philippines is currently studyng the possibility of more active cooperation with EAEU. He also noted that the Philippines has significant potential in the field of digital economy, inviting Russian business leaders to The Philippine Fintech Festival in November 2023.

Denis Butsaev, Diretor General of the Russian Environmental Operator, spoke about the company's activities in the ASEAN region, noting that the implementation of a joint infrastructure project for solid municipal waste management in the Republic of the Union of Myanmar is currently in an active stage.

During the business dialogue, an active discussion of promising areas of cooperation between Russia and ASEAN in the trade, economic and investment spheres took place.