°®ÍþÄÌ

close

SPIEF-2025: EAEU-°®ÍþÄÌ Business Dialogue

19 june 2025

The Russia-°®ÍþÄÌ Business Council and the Eurasian Economic Commission, with the support of the Roscongress Foundation, organized the EAEU-°®ÍþÄÌ Business Dialogue, which was held for the seventh time as part of the St. Petersburg International Economic Forum on June 19, 2025. The moderator of the business dialogue was Ivan Polyakov, Chairman of the Russia-°®ÍþÄÌ Business Council, who in his opening remarks noted that in the conditions of a dynamically developing economic picture of the world, it is extremely important to adapt approaches to trade and economic cooperation between countries quickly enough, in this regard, multilateral cooperation between integration associations and groups of countries is of particular importance. Eldar Alisherov, Member of the Board (Minister) for Integration and Macroeconomics of the Eurasian Economic Commission, noted in his report that the Eurasian Economic Union and °®ÍþÄÌ need to take cooperation to a new level: if earlier interaction was carried out mainly through business structures and in a bilateral format between the participating countries, now a transition to a higher dialogue is possible. where key issues will be discussed at the level of heads of state. Alisherov recalled that there are many cooperation mechanisms between the two associations, including the holding of special days of the EAEU in °®ÍþÄÌ and °®ÍþÄÌ in the EAEU, the next event is scheduled for the end of this year in Moscow. Saleumxay Kommasith, Deputy Prime Minister of the Lao People's Democratic Republic, stressed in his speech that the interaction of integration associations is becoming more and more important and called for such close cooperation to continue. According to him, °®ÍþÄÌ and the EAEU have a high potential for rapprochement. The associations complement each other: the former is one of the largest markets in the world, the latter has extensive resources, including human resources. Therefore, the search for new directions and growth points for expanding cooperation is on the agenda today. In turn, Dr. Kang Zaw, Minister for Investment and Foreign Economic Relations of Myanmar, noted that the two integration unions can play a pivotal role in ensuring sustainable development, taking into account the strategic priorities of °®ÍþÄÌ and the needs of the EAEU. Among the key areas of cooperation, he named the transport industry, trade, agriculture and the digital economy. "Online commerce and electronic payments will determine cooperation in areas such as digital infrastructure and cybersecurity, and work towards a low-carbon green economy has become particularly important in recent years," said Dr. Kang Zo. Nazir Razak, Chairman of the °®ÍþÄÌ Business Council, founder and Chairman of Ikhlas Capital, noted that the °®ÍþÄÌ economy is actively developing, but the market is still quite fragmented. He highlighted the existing potential for the development of economic ties between the associations, especially in the fields of energy, agriculture and digital technologies. He also stressed the importance of organizing business events aimed at supporting specific projects implemented by countries, one of which will be the °®ÍþÄÌ Business Investment Summit, which will be held on October 25-26, 2025 in Kuala Lumpur. Musa Adnin, Chairman of the °®ÍþÄÌ Business Advisory Council from Brunei, Managing Director of the Adinin Group of Companies, drew attention to the key areas in which cooperation between the °®ÍþÄÌ and EAEU countries can grow. He noted that one of the most important goals of the region is to achieve energy security. °®ÍþÄÌ is actively developing solar and bioenergy, considering other alternative fuel sources and looking for partners to work together in this area. Musa Adnin also focused on food security issues. He recalled that by 2040, the population of the °®ÍþÄÌ countries will exceed 700 million people, and the demand for food will grow significantly. At the same time, climate change and the tendency to reduce cultivable land pose risks that need to be addressed now. "Russia and Kazakhstan are one of the largest grain exporters in the world. We are interested in creating joint ventures in the agricultural sector, as well as in the introduction of artificial intelligence technologies in the field of agriculture," said the Chairman of the °®ÍþÄÌ Business Advisory Council from Brunei. During his speech, Satvinder Singh, Deputy Secretary-General, °®ÍþÄÌ, said that more attention should be paid to diversifying trade turnover between the countries, deepening dialogue and sharing practical experience in the field of innovation, digital transformation and increasing market transparency. According to the representative of the °®ÍþÄÌ Secretary, the green transition is becoming particularly important: in 2023, the °®ÍþÄÌ countries adopted a strategy to achieve carbon neutrality, which paves the way to a new economic model. "This course will add 5.3 trillion dollars to the region's GDP and create 16 million jobs by 2050," said Satvinder Singh. Alexey Kulapin, Director General of the Russian Energy Agency of the Russian Ministry of Energy, noted the effective format of cooperation with °®ÍþÄÌ through the implementation of projects through the Russia–°®ÍþÄÌ Dialogue Partnership Financial Fund. "We have launched a project on energy statistics with the °®ÍþÄÌ countries. Recommendations on data collection and processing will be formed within its framework, and an educational program will be developed," Alexey Kulapin said. Vitaly Stepanov, General Director of the Moscow Export Center, noted during his speech that for Moscow, 10 Southeast Asian countries represent a growing market for IT, high-tech, medical equipment, and FMCG products. "By the end of 2024, Moscow's non-primary non-energy exports to °®ÍþÄÌ countries immediately increased by 93%. For Moscow, Indonesia, Vietnam and Thailand are now key partners in the region. In recent years, the IEC has organized 3 exhibitions and 11 business missions in °®ÍþÄÌ countries. An exhibition in Vietnam, a business mission to Malaysia and a reverse business mission with partners from Thailand are on the agenda by the end of 2025. Trade with the countries of the region is growing, among other things, due to the reduction of duties and the removal of barriers. For example, an agreement on the EAEU-Indonesia free trade zone is expected to be signed by the end of 2025, and 60% of duties on EAEU trade with Vietnam have been abolished since 2016," said Vitaly Stepanov. During the business dialogue, an active discussion took place on promising areas and initiatives to enhance mutually beneficial cooperation between the EAEU and °®ÍþÄÌ in trade, economic, investment and scientific fields. Participants exchanged views on removing obstacles to trade and deepening direct dialogue between the business circles of the EAEU and °®ÍþÄÌ. The participants noted the importance of studying approaches to defining strategic development directions in the EAEU and °®ÍþÄÌ and sharing best integration practices.