The Russia-ASEAN Business Council held business consultations (via video conferencing) with the ASEAN Business Club’s head. Ivan Polyakov, Chairman of the Russia-ASEAN Business Council, Nikolay Ivanov, Vice President of the Union of Timber Manufacturers and Exporters of Russia, Tan Sri Dr. Munir Majid, President of the ASEAN Business Club, Chairman of Bank Muamalat Malaysia, Hong Ju Khee, Executive Director of the ASEAN Business Club attended the business consultations.

The participants exchanged views on the impact of the COVID-19 pandemic on the global and national economies, as well as on economic measures to support business activity in Russia and ASEAN Member States in the current situation.

Ivan Polyakov, Chairman of the Russia-ASEAN Business Council noted the negative impact of the COVID-19 pandemic on the international economic cooperation, including the development of industrial cooperation, trade, transport area, as well as business activity related to the cancellation and postponement of mutual business missions, international summits and forums. At the same time the Russia-ASEAN Business Council confirmed its readiness to provide further support to the business community of Russia and the ASEAN Member States in the implementation of joint trade, economic and investment projects.

Tan Sri Dr. Munir Majid, President of the ASEAN Business Club informed participants on measures to support business and citizens being taken in Malaysia and in ASEAN.

The parties emphasized the importance of strengthening business cooperation between ASEAN Member States and Russia, as well as continuing an active dialogue between the ASEAN Business Club and the Russia-ASEAN Business Council aimed at practical support for business.

Nikolay Ivanov, Vice President of the Union of Timber Manufacturers and Exporters of Russia outlined the main issues in Russia-ASEAN cooperation in the timber industry and suggested to promote interaction between countries in matters of certification of timber products for export supplies.

Following the results of working consultations, the parties agreed:

·      provide the possibility of the Russia-ASEAN Business Council’s participation in the ASEAN meetings on the foreign economic agenda;

·      intensify cooperation between the Union of Timber Manufacturers and Exporters of Russia and the Malaysian Timber Industry Board;

·      organize and conduct in the nearest future (June-July this year) the Russia-ASEAN Business Dialogue in the form of video conferencing.