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EAEU and ASEAN successfully develop trade and economic cooperation
This was reported by Sergei Glazyev, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission, at the opening ceremony of “Russia and ASEAN in the Asia-Pacific Region: Interaction Dynamics, Regional Processes and Global Context” conference.
Sergei Glazyev has mentioned that the EAEU and ASEAN countries bear the economic connectivity and mutual complementarity, which make a good foundation for developing trade and economic cooperation in the long term. At the same time, the scale of investment interaction and trade between the EAEU and ASEAN has not been optimal so far. The partnership infrastructure needs to be improved, and cooperation in production, science and technology needs to be expanded. The EEC is already up to that task. Over the last five years that have elapsed since the signing of the Memorandum of Understanding on economic cooperation between the EEC and ASEAN, close contacts have been established with the ASEAN Secretariat, major joint events have been organized on a regular basis, which, apart from focusing on integration experience exchanges, are aimed at establishing direct interaction channels between business communities.
“In turn, we are ready for creating most favorable conditions for boosting trade, eliminating barriers, and expanding preferential trade conditions,” said Sergei Glazyev, while mentioning the ongoing negotiations on concluding a free trade agreement between the EAEU and Indonesia.
The attendees of the conference opening ceremony also included Andrey Rudenko, Deputy Minister of Foreign Affairs of the Russian Federation, Ivan Polyakov, Chairman of the Russia-ASEAN Business Council, Fajar Hirawan, Head of the Economic Department of the Center for Strategic and International Studies of Indonesia, Mai Sainyavong, Director of the Institute of International Relations of the Ministry of Foreign Affairs of Laos, Andrey Baykov, Vice-Rector for Scientific work of the Moscow State University of International Relations of the Ministry of Foreign Affairs of Russia, Ekaterina Koldunova, Director of the ASEAN Center at the Moscow State University of International Relations of the Ministry of Foreign Affairs of Russia, and other experts from the EAEU and ASEAN countries.
For reference
The conference “Russia and ASEAN in the Asia-Pacific Region: Interaction Dynamics, Regional Processes and Global Context” held at the Moscow State University of International Relations as part of the 15th Convention of the Russian Association of International Studies (RAMI) was timed to the fifth anniversary of the strategic partnership between Russia and ASEAN.
A Memorandum of Understanding on economic cooperation between the EEC and 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.
A Cooperation Program for 2021-2025 was adopted to implement the Memorandum. 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.
