ASEAN – Russia Business Forum has become a convenient platform to discuss integration processes

A briefing by President of the Chamber of Commerce and Industry Sergei Katyrin and Chairman of the ASEAN — Russia Business Advisory Council Oudet Souvannavong took place following the Business Forum, held as part of the ASEAN — Russia Summit.

The Q&A session participants focused on creating more free trade areas between the EAEU and ASEAN countries.

As was noted during the briefing, an agreement between the EAEU and Vietnam has already been signed. Singapore, Indonesia, Cambodia and Thailand are looking to sign similar agreements as well.

The head of the Russian Chamber of Commerce and Industry hopes that other ASEAN countries will soon start thinking about signing free trade area agreements with the EAEU. "I believe all ASEAN countries will eventually sign such agreements," Sergei Katyrin said.

In turn, Oudet Souvannavong noted that the Business Forum has become a convenient platform to discuss integration processes in the Asia-Pacific region and a venue to discuss potential expansion of cooperation between ASEAN and the EAEU.

He also told the audience about the Business Forum discussion on cooperation in business, in particular, investment cooperation and development of infrastructure and technology, including information technology. Mr Souvannavong suggested that the private sector should lead this process.

"We need to promote contacts between the business communities of Russia and ASEAN. We support this process, and we hope that functions such as this forum will help strengthen our relations," Mr Souvannavong said in closing.