EDB: Russia and ASEAN countries have potential for joint investments
18 May 2016
Moscow, 17 May 2016. In the past years, cooperation between Russia and the Association of Southeast Asian Nations' (ASEAN) member countries was primarily focused on trade, despite the potential for mutual investments. "This investment potential has not been tapped yet and it is important to devise a roadmap for investment cooperation," Yaroslav Lissovolik, Chief Economist at Eurasian Development Bank (EDB), said at the round table Russia–ASEAN: Single Economic Space organised by the TASS Russian News Agency in the run-up to the Russia–ASEAN Summit. The event was held on 16 May 2016 in Moscow to discuss economic cooperation and the search for unobvious reserves for joint projects.
Yaroslav Lissovolik said during his speech that the first steps to advance relationships between the countries had already been made. An example of this was, according to him, the signature of a free trade zone agreement with Vietnam, as well as the work on similar agreements with Singapore and Indonesia. "The next step will be deeper cooperation with ASEAN countries, in the first place in the area of mutual investments, as well as in human capital development, high tech sectors and the processing industry," EDB Chief Economist added.
Other participants in the round table were Rustam Makarov, Director of the Foreign Trade, Private Investment and Export Support Department of the Ministry for the Development of the Russian Far East, Victor Sumsky, Director of the ASEAN Centre at MGIMO University, and Yuri Gromyko, Director of the Shiffers Institute of Advanced Studies. The third Russia–ASEAN Summit will be held on 19-20 May 2016 in Sochi. It’s supposed that Dmitry Pankin, Chairman of the Management Board, will speak at the summit.
Additional Information
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
Yaroslav Lissovolik said during his speech that the first steps to advance relationships between the countries had already been made. An example of this was, according to him, the signature of a free trade zone agreement with Vietnam, as well as the work on similar agreements with Singapore and Indonesia. "The next step will be deeper cooperation with ASEAN countries, in the first place in the area of mutual investments, as well as in human capital development, high tech sectors and the processing industry," EDB Chief Economist added.
Other participants in the round table were Rustam Makarov, Director of the Foreign Trade, Private Investment and Export Support Department of the Ministry for the Development of the Russian Far East, Victor Sumsky, Director of the ASEAN Centre at MGIMO University, and Yuri Gromyko, Director of the Shiffers Institute of Advanced Studies. The third Russia–ASEAN Summit will be held on 19-20 May 2016 in Sochi. It’s supposed that Dmitry Pankin, Chairman of the Management Board, will speak at the summit.
Additional Information
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
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