Russia-ASEAN Trade Exceeds $17 Billion, Significant Growth Potential Noted

KAZAN, June 17. /TASS/. Trade between Russia and the Association of Southeast Asian Nations (ASEAN) currently exceeds $17 bln, while the two sides have significant potential to further expand it, ASEAN Secretary-General Kao Kim Hourn said at the opening of the Russia-ASEAN Business Forum.

"We are creating very strong supply chains and ensuring sustainable growth of the digital economy. Russia brings industrial capabilities, scientific innovation, and agriculture to this relationship, and these strengths are, of course, highly complementary. This is precisely where new business opportunities emerge. This applies both to the development of our trade, which today exceeds $17 bln, and, undoubtedly, demonstrates that we have significant potential for growth. So far, these results remain modest. Therefore, we have substantial potential for further growth and the development of cooperation," he said.

According to Kao Kim Hourn, Russia and ASEAN are developing their partnership at a time when economic adaptability and resilience are increasingly important.

"We are strengthening our supply chains, investing in new technologies, and supporting economic growth, thereby creating new opportunities that will contribute to the prosperity of our countries. <...> We are working to enhance resilience, deepen partnership, and identify new avenues for development, thereby creating opportunities for growth, expanding our economies, and making our economic relations and partnership more effective," the secretary-general added.

TASS is the information partner of the Russia-ASEAN Business Forum.