Medvedev seeks deeper ASEAN-Russian cooperation

Russian Prime Minister Dmitry Medvedev yesterday offered ASEAN potential cooperation on energy, agriculture, navigation and financial services technology to boost economic relations.

As keynote speaker of the 2017 ASEAN Business and Investment Summit (ABIS), Medvedev said that Russia and ASEAN have been linked for 20 years but trade and investment turnover numbers are quite modest.

“Russia and ASEAN have been linked for 20 years by a special form of partnership, a delicate partnership that gives impetus to beneficial and mutual cooperation,” he said as he reminded delegates that this delicate partnership has been in force since 1996.

But, bilateral trade and investments between the two remained modest with Russian investments in ASEAN only at $59 million in 2016.

“So far, our turnover numbers are quite modest with the region, investments practically the same,” he said citing similar opportunities and necessary tools and cooperation mechanisms to ensure successful implementation of projects on a bilateral basis.

The Russian Prime Minister cited areas of cooperation in energy transfer, agriculture, sectoral navigation and financial technology as important and practical sectors.

“This is logical indeed as today ASEAN in terms of growth is sixth economy in the world and third in Asia,” he said.

Medvedev said that Russian entrepreneurs have been visiting ASEAN on a regular basis and that Russia wants to establish reciprocal visits.

In addition, he said that Russia is ready to be involved in the ASEAN initiatives with special focus on making connectivity in Asia and Europe as fast as possible. He cited the region to become the industrial hub to satisfy the needs of the whole of Asia. (BCM)