Russia, ASEAN have significant potential to expand trade — secretary-general

Lead

At the Russia-ASEAN summit in Kazan, officials highlighted significant growth in trade and the potential for further expansion of economic ties. Russian Economic Development Minister Maxim Reshetnikov and ASEAN Secretary-General Kao Kim Hourn both stressed the importance of deepening cooperation, with a new strategic program expected to be adopted in 2026. The summit, held on June 17-18, included the Russia-ASEAN Business Forum, which drew participants from 17 countries.

Coverage Comparison

All reporting on the event comes from TASS, the Russian state news agency, which served as the forum's information partner. The coverage provides details of speeches and statements by Russian officials, ASEAN representatives, and business leaders, with a predominantly positive tone reflecting the mutual interests highlighted at the summit.

Key Claims

Trade Turnover Figures Show Strong Growth

Minister Reshetnikov cited contrasting figures for trade turnover growth in his remarks. At one point, he said trade turnover between Russia and ASEAN had increased by 58% over the past 10 years, reaching $21 billion, while Russian exports grew by 44%. In another statement, he mentioned a 53% increase over the same period, also reaching $21 billion. Meanwhile, ASEAN Secretary-General Kao Kim Hourn stated that current trade exceeds $17 billion, suggesting modest results with substantial potential for growth. The discrepancy between $17 billion and $21 billion was not reconciled in the reports.

Energy Cooperation and Crude Oil Supplies

In the wake of the crisis in the Strait of Hormuz, Reshetnikov reported that Russia increased supplies of mineral resources and crude oil to ASEAN countries by 40% in the first quarter of 2026. He noted plans to conclude long-term energy supply contracts and jointly develop storage and distribution infrastructure, which he argued would ensure energy security and competitive prices for ASEAN partners. ASEAN Secretary-General confirmed growing energy demand in the region and expressed interest in cooperation with Russian businesses in LNG supplies, energy networks, and modernization of existing systems. Russia is also discussing increased LNG supplies, with Reshetnikov citing forecasts of a 2.6-fold increase in energy consumption by 2050.

E-Commerce and Digital Economy

Reshetnikov highlighted Russia's favorable regulatory environment for e-commerce, which he said has helped develop a technologically advanced cybersecurity system. He reported that e-commerce volume reached $140 billion last year, growing by 28%, and described Russian platforms as ready-made channels for ASEAN countries to develop bilateral trade. He noted that these platforms operate in more than ten countries and could serve as effective channels for introducing new products and expanding competition.

Strategic Program and Future Plans

Reshetnikov announced that the Russia-ASEAN Strategic Program for Trade and Investment Cooperation through 2035 would be adopted in 2026 and serve as a roadmap for concrete actions to deepen economic ties. He described ASEAN nations as reliable allies in building a stable future and urged businesses to pursue ambitious, long-term projects.

Imports from ASEAN

Reshetnikov also reported that Russia increased imports from ASEAN countries by 70% over the past decade, including agricultural raw materials, machinery, equipment, vehicles, chemical products, textiles, clothing, and footwear. He attributed the growth to adherence to multilateral WTO rules and rejection of hidden protectionism, despite global challenges and uncertainty.

Perspectives

Russian Economic Development Ministry

Minister Reshetnikov presented Russia as a reliable supplier of energy and other goods, emphasizing long-term contracts, infrastructure development, and the creation of a favorable regulatory environment for e-commerce. He highlighted the resilience of trade under challenging conditions and called for ambitious projects.

ASEAN Secretary-General

Kao Kim Hourn emphasized the complementary strengths of Russia and ASEAN, including Russia's industrial capabilities, scientific innovation, and agriculture. He stressed the importance of strong supply chains, sustainable growth of the digital economy, and significant potential for further growth despite current trade figures being modest.

ASEAN Business Advisory Council Co-Chair

Dato' Sharon Wardini Mohdzani (also referred to as Dato' Charon Wardini Mokhzani) expressed interest in expanding cooperation under sanctions, acknowledging challenges for Russian investors while noting understanding within ASEAN. He highlighted sectors for cooperation including food, energy, logistics, technology, and tourism, with Malaysia intending to increase tourist arrivals from Russia.

Roscongress Foundation

The foundation, citing Russian Presidential Adviser Anton Kobyakov, characterized the business forum as forming the foundation of an influential international discussion platform. It noted participation from 17 countries and the presence of prime ministers from Malaysia, Thailand, and Vietnam, demonstrating serious interest in expanding cooperation.