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EEF-2019: Russia-ASEAN business dialogue

05 september 2019

On September 5, 2019 Russia-ASEAN Business Council and the Roscongress Foundation, within 5th Eastern Economic Forum (EEF-2019), conducted Russia-ASEAN business dialogue. The event was attended by over 100 representatives of business and government authorities of Russia and ASEAN countries. The discussion was moderated by the President of the Chamber of Commerce and Industry of Russia Sergey Katyrin, who during his welcome remarks noted the serious potential for cooperation between Russia and ASEAN, including in the field of information and communication technologies and the digital economy. The Minister of National Development Planning of the Republic of Indonesia, Bamban Brojonegoro, emphasized that Indonesia is among the ten largest trading partners of Russia in terms of export. He also stressed active investment cooperation between the two countries - so Russia invested in 134 Indonesian projects for a total of $ 15 million. According to the Minister, Indonesia is actively exporting palm oil, rubber, coconut to Russia, but existing customs duties hinder the volume of products supplied. In this regard, he suggested thinking about the possibility of concluding an agreement on a free trade zone between Russia and Indonesia, or between Russia and ASEAN. Also during his speech, Bamban Broggonegoro called on Russian business to participate in the implementation of infrastructure facilities in connection with the transfer of the capital of Indonesia from Jakarta to the island of Kalimantan in 2024. Deputy CEO of Rostec State Corporation, Chairman of Russian-Singaporean Business Council Nikolay Volobuev spoke about the RusTrade platform developed by the business council, which promotes of Russian high-tech products on the Singapore market. Almost 82 thousand companies from 23 countries are registered on it, including ASEAN countries. He also highlighted the activities of the Russian Center for Foreign Promotion, which is located in one of Singapore's technology parks. Thematic exhibitions of Russian companies manufacturing medical equipment, telecommunications equipment, and composite materials are held on the territory of the center. Winnie Theo, CEO of Progression Engineering (S) Pte Ltd (Singapore), informed the participants of the business dialogue about the activities of her company, which is engaged in the protection of intellectual property, and also helps Russian high-tech companies enter the Singapore market. Nguyen Thanh Hung, founder of Sovico Group, Deputy Chairman of the Board of Directors of Vietjet Air (Vietnam) during his speech noted the great potential of Vietnam's aviation industry, which is among the top 5 fastest growing in the world. He said that as a result of negotiations held within the framework of the EEF-2019, Vietjet Air plans to launch direct flights between Vladivostok and Hanoi. Leofayratana Pracay, Chief Executive Officer, Chairman of the Executive Committee of TPI Polene Public Company Limited (Thailand), spoke about the prospects of his company’s cooperation with the Russian side in the construction of turbines for power plants, and also suggested considering the possibility of organizing electricity supplies from the Russian Far East to the South-East countries Asia, in particular in Thailand. Alexey Pakhomenko, Deputy General Director for Programs and Strategy, Helicopters of Russia JSC, emphasized that in the spring of 2019, ASEAN managed to conclude soft contracts with Vietnam, Thailand, Cambodia and Malaysia for the supply of Russian helicopters to ASEAN countries. “Russian Helicopters” occupy more than 18% of the world helicopter market in monetary terms and are aimed at further deepening cooperation with ASEAN countries, ” A. Pakhomenko said. Maxim Kobin, Managing Director for Client Work, Russian Export Center JSC, spoke about the export support of Russian companies and the credit and insurance support of Russian companies in the ASEAN area.