Russia–ASEAN Business Forum opens in Kazan

The Russia–ASEAN Business Forum has opened in the capital of Tatarstan, taking place on the sidelines of the Russia–ASEAN Summit. The opening of the Forum was attended by Secretary-General of ASEAN Kao Kim Hourn, Prime Minister of Malaysia Anwar bin Ibrahim, Prime Minister of the Kingdom of Thailand Anutin Charnvirakul, Prime Minister of the Socialist Republic of VietNam Le Minh Hung, Minister of Economic Development of the Russian Federation Maxim Reshetnikov, Prime Minister of the Republic of Tatarstan Alexei Pesoshin and Chairman of the Russia–ASEAN Business Council Ivan Polyakov. The opening session was moderated by President of the Russian Chamber of Commerce and Industry Sergei Katyrin. The Russia–ASEAN Business Forum is taking place on the sidelines of the Russia–ASEAN Summit in Kazan. The organizer is the Roscongress Foundation.

In his message to the guests and participants of the Business Forum, the President of the Russian Federation noted that the Business Forum, which has brought together leading representatives of the business communities of Russia and the ASEAN member states in Kazan, is of particular significance.

“This year marks the 35th anniversary of Russia–ASEAN relations. Over these years, we have accumulated substantial experience in multifaceted cooperation, built strong partnerships, including between the ASEAN Business Advisory Council and the Russia–ASEAN Business Council, and laid a solid foundation for further expanding our cooperation. Today, we are facing a new set of tasks. These include the rapid adoption of artificial intelligence-based digital solutions and the development of resilient digital platforms. Significant potential also exists in the fields of energy and food security, the exchange of advanced technologies, and cooperation in the peaceful use of nuclear energy, as well as in transport and logistics. Importantly, our partners in the Shanghai Cooperation Organization, the Eurasian Economic Union, and other associations, whose representatives are taking part in this Forum, are actively engaged in these same areas of cooperation. I am confident that the outcomes of the Russia–ASEAN Summit will create new opportunities for expanding mutually beneficial trade, investment, and industrial cooperation, while also strengthening direct dialogue between our business communities. These efforts will contribute to the socioeconomic development of our countries,” the President of Russia said in his address.

Anton Kobyakov, Adviser to the President of the Russian Federation and Executive Secretary of the Organizing Committee for the Preparation and Conduct of the Russia–ASEAN Summit, noted that three prime ministers – from Vietnam, Malaysia and Thailand – were present at the opening of the Business Forum.

“Russia, together with its geopolitical allies within ASEAN, is developing an economic model of interaction. The readiness of the Association’s member states for open dialogue confirms their serious interest in business cooperation with Russia. Markets that previously seemed peripheral are becoming central. The Association’s members are interested in our country’s capabilities in industry, energy, innovation and other sectors, and they are increasingly saying so,” Anton Kobyakov said.

According to Maxim Reshetnikov, economic ties between Russia and the countries of Southeast Asia are showing steady growth despite the complex geopolitical environment and the crisis in the multilateral trading system. Trade turnover has increased by 58% over the past ten years, reaching USD 21 billion.

“The energy sector remains one of the key drivers of growth in trade cooperation between Russia and ASEAN. Russia is confirming its status as a reliable supplier: in the first quarter, against the backdrop of the crisis in the Strait of Hormuz, supplies of mineral fuels and oil to the region grew by 40%. The next stage is the conclusion of long-term contracts and the development of storage infrastructure. Agricultural exports are also being expanded in parallel. Meat product deliveries have grown fiftyfold over ten years, facilitated by the recognition of Russian veterinary certificates by ASEAN countries,” the head of the Russian Ministry of Economic Development said.

The Minister of Economic Development also highlighted the development of payment systems. “The development of settlements in national currencies is a necessary and important step not only for the advancement of Russia–ASEAN relations, but also for enhancing the resilience and security of each country’s settlement system overall,” Maxim Reshetnikov said.

The Minister separately highlighted the digital economy and e-commerce. Russia’s e-commerce market has reached USD 140 billion, showing growth of 28% year-on-year. Russian platforms are already operating in more than ten countries worldwide, giving ASEAN businesses a ready channel for accessing the EAEU market of 183 million people. At the same time, Russia is also expanding its imports from ASEAN countries, purchasing machinery, equipment, textiles, and chemical industry products.

“Today, economic resilience is determined not only by growth rates. It is determined by energy security, food security, the reliability of supply chains, technological development and the ability to cope with the trends that hinder progress in our complex economic world. There are areas where Russia and ASEAN could work together to strengthen the partnership: energy, food security and agriculture, industry, the development of transport infrastructure, engineering, the development of natural resources, and digital development. We aspire to develop cooperation between Russia and ASEAN. And this will depend not only on the decisions taken by governments, but also on the partnerships that develop between countries, between businesses and those who operate in the market. Governments create the conditions, but it is companies that drive innovation and development forward,” said Secretary-General of the Association of Southeast Asian Nations Kao Kim Hourn at the opening session of the Business Forum.

The Russia–ASEAN Summit and the Russia–ASEAN Business Forum, which are being held in Kazan from 17 to 19 June, will serve as platforms for discussing the key directions of cooperation between Russia and the states of the Association of Southeast Asian Nations, strengthening business ties and implementing joint initiatives.