Forum boosts economic ties among ASEAN, emerging economies, Russia

"The ASEAN Economic Cooperation Forum and Emerging Economies with the Russian Federation in the new context: Issues and prospects". (Photo: CPV)

Co-hosted by the University of Economics and Business (UEB)– Vietnam National University (VNU)-Hanoi and the Institute of Economics of the Russian Academy of Sciences (RAS), the event was part of activities marking the 30th anniversary of the signing of the treaty on the basic principles of the friendship between Vietnam and Russia, the RAS’s 300th founding anniversary, and toward the UEB’s 50th anniversary.

Speaking at the event, Assoc. Prof. Dr. Nguyen Truc Le, Chairman of the UEB Board of Trustees, highlighted the forum's focus on issues related to economic growth and sustainable development in ASEAN and emerging economies. Particular emphasis was placed on strengthening Vietnam-Russia economic and trade relations, especially in areas like digital economy, tourism, trade, energy, finance and smart city development.

Data revealed that ASEAN-Russia trade reached nearly 20 billion USD in 2021, with ASEAN primarily exporting machinery and electronics to Russia.

Delegates took a photo at the forum. (Photo: CPV)

Bakeeva Ekaterina, Minister Counselor of the Russian Embassy in Vietnam, expressed a desire for greater support from international associations to address bilateral issues and requested more active participation from ASEAN in Russia's regional and global projects.

Experts said Russia pays particular attention to creating additional driving forces to enhance and diversify trade as well as economic cooperation with ASEAN. Priorities include ensuring food and energy security, advancing the circular economy, addressing environmental issues, digitising the economy, developing smart cities, and strengthening collaboration in science and education.

They offered policy recommendations to promote and improve the effectiveness of Vietnam-Russia comprehensive strategic partnership, and looked into experience of ASEAN countries and emerging economies in their collaboration with Russia.

The forum also paved the way for new research partnerships between VNU-Hanoi universities and research institutions, enterprises, development organisations and State management agencies from Vietnam and Russia./.