Russia-ASEAN Strategic Economic Planning Group

Russia-ASEAN Strategic Economic Planning Group Proposal Takes Shape

Russia-ASEAN Strategic Economic Planning Group: A New Era of Cooperation

The Russia-ASEAN Business Council has proposed the establishment of a Strategic Economic Planning Group, a significant move to strengthen economic ties between Russia and the Association of Southeast Asian Nations (ASEAN). This group will comprise representatives from both the public and private sectors, fostering collaborative efforts to enhance economic cooperation.

Objectives of the Strategic Economic Planning Group

This group’s primary objective significantly increases economic cooperation between Russia and ASEAN countries. It aims to exceed $100 billion in trade volume in coming years. According to Ivan Polyakov, the Business Council’s Chairman, five key cooperation areas exist. Firstly, sustainable infrastructure development will receive focus from 2021-2025.

Secondly, digital innovations represent another priority area during this period. Thirdly, logistics corridors development is a key cooperation point. Fourthly, improving transport accessibility across regions is crucial. Finally, refining the legislative framework underpins enhanced economic ties. Ultimately, these five areas drive increased Russia-ASEAN economic cooperation over 2021-2025.

Enhancing Economic Cooperation between Russia and ASEAN Countries

By establishing this group, both parties aim to create a favorable business environment, increase mutual investments, and promote trade between Russia and ASEAN countries. Moreover, the group will facilitate the exchange of best practices, technologies, and expertise, ultimately contributing to the sustainable development of both regions.

Russia’s Expertise in Development Breakthroughs

Russia’s experience in developing breakthrough areas can be extremely valuable for ASEAN countries in achieving their sustainable development goals. For instance, the successful launch and implementation of the National Technology Initiative (NTI) in Russia have created conditions for Russian companies to lead in new high-tech markets. By sharing its expertise, Russia can help it’s partner countries overcome their development challenges.

EAEU Days at the ASEAN Secretariat: A Milestone in Economic Cooperation

This year’s EAEU Days at the Secretariat in Jakarta, Indonesia, marks a milestone. It signifies enhanced economic cooperation between Russia and ASEAN. The event, held on November 20-21, features vital topics. For instance, it covers EAEU-ASEAN interaction in the new economic reality. Additionally, it promotes private sector economic integration, decarbonisation, digitalisation, and food security.

Consequently, the event provides a platform for policymakers, business leaders, and experts. They can discuss ways to enhance economic cooperation at this forum. Moreover, attendees can address common challenges facing both regions. In summary, EAEU Days facilitates dialogue on strengthening economic ties between Russia and ASEAN.

The proposed Strategic Economic Planning Group is poised to revolutionize economic cooperation between both countries. By fostering collaborative efforts, sharing expertise, and addressing common challenges, both parties can create a favorable business environment, promote sustainable development, and unlock the vast economic potential of the region. As the group begins its work, it is clear that a brighter future lies ahead for Russia-ASEAN economic cooperation.

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