Russia enhances relations with ASEAN at ‘World of Opportunities’ forum
Date
12/19/2024 6:38:40 AM
(MENAFN) This week, Kuala Lumpur hosted the ‘World of Opportunities: Russia-ASEAN’ business forum, gathering Political and business leaders to discuss expanding cooperation between Russia and Southeast Asian nations. The ASEAN bloc, consisting of Brunei, Myanmar, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, is the world’s fifth-largest economic region, with a steady annual GDP growth rate of 4-5%. Over the years, Russia has diversified its exports to ASEAN, moving beyond energy to include metals and fertilizers.
The forum, organized by Russia’s Roscongress Foundation, was one of the region’s largest business events, attracting over 350 participants from 24 countries. It highlighted the increasing interest of Russian businesses in ASEAN markets. According to Roscongress CEO Alexander Stuglev, trade between Russia and ASEAN, particularly with Malaysia, has grown by 11%, reaching $3 billion this year.
Key topics of discussion included trade, energy, digital transformation, innovation, information security, tourism, healthcare, and educational exchanges. Russia’s Deputy Minister of Industry and Trade, Alexey Gruzdev, emphasized that the full potential of Russia-ASEAN cooperation remains underutilized and called on participants to take bold steps to unlock it, focusing on sectors like energy, AI, banking, and integration with the Eurasian Economic Union.
MENAFN19122024000045015687ID1109011565
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.