ASEAN and Russia commit to strengthening diplomatic relationship at ASEAN-Russia Senior Officials Meeting (ARSOM) 2023

ASEAN and Russia have committed to strengthening their diplomatic relationship at the 19th ASEAN-Russia Senior Officials Meeting (ARSOM) held in Siem Reap, Cambodia on April 29, 2023. As part of this commitment, both jurisdictions reviewed the developments between them, with Russia reaffirming its support for ASEAN Centrality. Additionally, both parties noted the progress made on implementing mutually beneficial objectives under the ASEAN-Russia Comprehensive Plan of Action (CPA) 2021-2025, which aims to strengthen political and security cooperation, boost economic cooperation, collaborate on energy security, enhance food and agriculture cooperation, and increase trade. Currently, trade between ASEAN and Russia is dominated by ASEAN exports to Russia, including electrical machinery and equipment, animal and vegetable oils and fats, machinery and mechanical appliances, and rubber. Trade between ASEAN and the Eurasian Economic Union (EAEU) is also being explored to widen trade opportunities. Indonesia, Malaysia, Vietnam, and Thailand are among the largest ASEAN exporters to Russia, with each country identifying key export products. Despite smaller bilateral trade, Cambodia and the Philippines are intensifying their economic relations with Russia. ASEAN Briefing, produced by Dezan Shira & Associates, provides foreign investors with the latest news and insights across ASEAN.