Asean, Russia Vow To Boost Trade, Investment Ties

MANILA, Sept 23 (NNN-PNA) -- ASEAN and Russia have committed to deepening trade and investment ties, Philippine News Agency (PNA) reported.

In a joint statement following the ASEAN Economic Ministers-Russia Consultation held in Pasay City on Tuesday, economic ministers endorsed the ASEAN-Russia Strategic Programme on Trade and Investment Cooperation 2026-2035 (ASEAN-Russia SPTI).

The ministers said the framework would enhance economic cooperation between ASEAN and Russia.

The SPTI covers 11 areas of cooperation: economy, trade and investment; digital transformation; science, technology and innovation; transport; agriculture; energy; mining; climate change; circular economy; tourism; and creative economy.

The ministers also discussed progress in bilateral cooperation under the ASEAN-Russia Dialogue Partnership Financial Fund, particularly in the areas of digital skills, smart and sustainable cities, and animation.

They also welcomed progress in implementing the Programme of Cooperation (PoC) under the Memorandum of Understanding between ASEAN and the Eurasian Economic Commission (EEC) on Economic Cooperation for 2026-2030.

The ministers welcomed initiatives in key areas such as energy solutions, digital transformation and artificial intelligence, infrastructure development, education and talent development, as well as environmental and waste management cooperation.

The consultation also discussed continued cooperation between the Russia-ASEAN Business Council and the ASEAN Business Advisory Council, including efforts to engage representatives of the Russian business community in the ASEAN Business and Investment Summit.

Data showed that two-way trade between ASEAN and Russia stood at US$17.8 billion in 2025.

--NNN-PNA

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