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EAEU and ASEAN extended Cooperation Program until 2025

EAEU and ASEAN extended Cooperation Program until 2025

8/28/2020

 "Despite the coronavirus pandemic, the Commission manages to maintain a sufficient level of international contacts with both countries and regional associations," the Director of Integration Development Department stated. "And it is gratifying that the EAEU and the ASEAN, as two dynamically developing associations, are actively deepening cooperation and exchanging views on mechanisms enabling to ensure further integration within the EAEU and the ASEAN amid the pandemic".

Goar Barseghyan welcomed the extension of current Cooperation Program until 2025 as a flexible mechanism for interaction considering the possibility of updating the document in the following years.

Lim Jock Hoi, Secretary General of the Association, has emphasized the importance of extending the document, noting that the seminar "Regional Economic Integration in the EAEU and the ASEAN" held in December 2019, was the impetus for enhancing cooperation between the organizations.

Following the meeting, a joint statement was adopted which extended the Cooperation Program. Some recommendations following the December seminar were approved as well. In particular, they highlight the relevance of creating a separate EAEU-ASEAN dialogue mechanism in the long term and the interaction between the EAEU and the ASEAN is noted as the foundation for forming a Large Eurasian partnership. It is emphasized that it contributes to creating additional opportunities for improving competitiveness of the EAEU and the ASEAN States' economies. 

The parties have agreed to hold a round table "Adaptation mechanisms of the EAEU and the ASEAN to support integration development during the pandemic" which will be held at the end of September within the seminar "Russia-ASEAN: Joint Response to the COVID-19 Outbreak". 

The Economic Ministers of the ASEAN countries have expressed confidence in further effective interaction between the integration associations.

For reference:

The Association of Southeast Asian Nations (ASEAN) is an economic association founded in 1967. The Association members include Indonesia, Malaysia, Singapore, Thailand, the Philippines, Brunei Darussalam, Vietnam, Laos, Myanmar, and Cambodia. Papua New Guinea and East Timor have an observer status. This is one of the largest regional integration associations with a combined GDP of US$ 2,6 trillion, foreign trade turnover of US$ 2,5 trillion and a population of 622 million people.

The memorandum of understanding between the EEC and the ASEAN was signed on November 14, 2018 in Singapore. The document underpins the formation of a dialogue platform for discussing a wide range of issues of interaction between integration blocks on the Eurasian continent scale.

To implement the memorandum, a Cooperation Program for 2020–2025 was adopted. It covers such spheres as customs legislation and law enforcement practice, trade policy, business activities, technical and antitrust regulation, SPS measures, energy, functioning of internal markets, etc.​