Overview
Russia became ASEAN Dialogue Partner in 1996. Since then, the ASEAN-Russia trade and investment relationship continued to flourish. The total trade between ASEAN and Russia reached 18.1 billion in 2024, while Russia’s foreign direct investment flows into ASEAN registered at a value of USD 65 million in the same year.
Efforts to enhance economic cooperation activities was intensified in 2002 when the 3rd ASEAN-Russia Joint Cooperation Committee (ARJCC) Meeting endorsed the establishment of the ASEAN-Russia Working Group on Trade and Economic Cooperation (ARWGTEC). The Working Group was tasked to handle economic cooperation activities between ASEAN and Russia. Its first meeting was held in the same year with Senior Economic Officials from ASEAN (Director General level) and representatives from Russia comprising several Ministries, i.e. Economic Development and Trade, Foreign Affairs, Transport, Atomic Energy, Education, Finance, Chamber of Commerce and Industry and other business sector representatives.
The work of the Working Group led to the adoption of the following documents: (i) Inter-governmental Agreement between ASEAN and Russia on Economic and Development Cooperation; and (ii) Comprehensive Program of Action to Promote Cooperation between ASEAN and the Russian Federation (2005-2015) at the inaugural ASEAN-Russia Summit in Malaysia in December 2005.
In July 2006, ASEAN and Russia convened the inaugural Senior Economic Official Meeting (SEOM-Russia Consultations) and agreed to meet as and when the need arises. The 2nd SEOM-Russia Consultations was held in Brunei Darussalam in July 2010. At this Meeting, ASEAN and Russia agreed to place the purview of the ARWGTEC under SEOM-Russia Consultations. Furthermore, ASEAN and Russia also agreed to inaugurate the ASEAN and Russia Economic Ministerial Meeting (AEM-Russia Consultations) in August 2010. One of the major outcomes of the 1st AEM-Russia Consultations was the establishment of the ASEAN-Russia Expert Group mandated to develop a Roadmap for ASEAN-Russia Comprehensive Economic Cooperation.
The Roadmap was endorsed by ASEAN and Russia Economic Ministers in November 2012. The Roadmap comprises five (5) key areas, namely High-level policy dialogue; Consultations at the Senior Economic Officials level; Sectoral dialogues between ASEAN and Russian officials; Trade and investment facilitation; and Enhancing dialogue with business. A Work Programme to implement the Roadmap was also developed and subsequently endorsed by ASEAN and Russia Economic Ministers at the 2nd AEM-Russia Consultations held on 21 August 2013 in Brunei Darussalam. Aiming to expand the areas of economic cooperation, the Roadmap was modified in 2015 (Post-2015 Roadmap) and 2017 (Post-2017 Roadmap). A Work Programme to implement the activities was set out in the Post-2017 Roadmap (Work Programme) and was endorsed at the 6th AEM-Russia Consultations in 2017.
Recognising the change of the global economy due to COVID-19, the 10th AEM-Russia Consultation held on 14 September 2021 endorsed the revised ASEAN-Russia Trade and Investment Cooperation Roadmap and ASEAN-Russia Trade and Investment Work Programme 2021-2025 that envision cooperation development between ASEAN and Russia in three key dimensions: trade and investment, digital transformation and sustainable development. The implementation of the Work Programme has contributed to ASEAN-Russia economic cooperation, particularly in the areas of trade, digital economy, MSMEs, agriculture, energy and climate change.
In order to continue the economic cooperation, the 14th AEM-Russia Consultation held on 26 September 2025 endorsed the ASEAN-Russia Strategic Programme on Trade and Investment Cooperation 2026-2035, which is the successor to the ASEAN-Russia Trade and Investment Roadmap.
Priorities Of Cooperation
The ASEAN-Russia Strategic Programme on Trade and Investment Cooperation 2026-2035 is a strategic document that provides an avenue for ASEAN and Russia cooperation in the sphere of trade and economy and sets the framework for future cooperation in emerging issues of mutual interests namely on digital transformation, science, technology and innovation, transport and mobility, agriculture, energy and mineral, sustainable development, and tourism.
Economic Cooperation between ASEAN and EAEU
The EAEU has been actively exploring trade and economic cooperation with ASEAN, in particular since the launching of the ASEAN Economic Community (AEC). At the 5th AEM-Russia Consultations on 5 August 2016, ASEAN welcomed Russia’s proposal for a joint feasibility study of a possible FTA between ASEAN and the EAEU. The Ministers tasked senior economic officials to further elaborate and work on this issue. In the following year, the Ministers noted the recommendations to build confidence through policy dialogues and activities under the Work Program before embarking on a joint feasibility study.
A Memorandum between ASEAN and EAU on Economic Cooperation (the MoU) was signed on 14 November 2018 in Singapore, at the sidelines of the 3rd ASEAN-Russia Summit by the then Secretary-General of ASEAN, H.E. SG Dato Lim Jock Hoi and the then Chairman of the Board of the EEC, Mr. Tigran Sargasyan. The MoU is considered as the first step in establishing closer cooperation between the EAEU and ASEAN. The MOU comprises a total of nine articles which lay the groundwork for enhanced economic cooperation and development of new areas of cooperation (i.e. customs procedures and trade facilitation; sanitary and phytosanitary; technical regulations; e-commerce; trade in services and investment, business development primarily for MSMEs; and other areas to be mutually agreed upon by the participants).
To implement the MoU, a Programme of Cooperation for 2019/2020 (the PoC) was endorsed by the Ministers at the 8th AEM-Russia Consultations in September 2019. The PoC consists of various activities ranging from High-Level Dialogue, Business Community engagements, joint events at the platform of international organization, and consultation between experts and exchange of knowledge.
At the 9th AEM-Russia Consultations on 28 August 2020, the Ministers endorsed the extension of the timeframe for the implementation of the PoC until 2025. One of the highlights in the implementation of the ASEAN-EEC PoC for 2020-2025 is the organisation of the ASEAN-EAEU Days which was held on 20-24 November 2023 in ASEAN Headquarters/ ASEAN Secretariat. The ASEAN-EAEU Days in 2023 was opened by H.E. Dr. Kao Kim Hourn, the Secretary-General of ASEAN and H.E. Sergey Glazief, Member of the Board, Minister for Integration and Macroeconomics, Eurasian Economic Commission. Deputy Ministers of Russia, Ambassadors of ASEAN Member States, the EAEU Countries, and other countries also attended the opening. The ASEAN-EAEU Days also featured a reception that highlights various national cuisines of the EAEU Member States, photo exhibition, demonstration of videos, and distribution of informal brochures, highlighting the main areas of cooperation between ASEAN and EAEU. Two roundtables on ASEAN-EAEU economic cooperation were also held during that week.
To ensure the continuity of the economic cooperation between ASEAN and the EEC, another PoC was developed for the period of 2026-2030. The ASEAN-EEC PoC for 2026-2030 covers a range of topics, including trade, customs and trade facilitation, competition policy, financial market, digital transformation, transport, energy, blue economy, and agriculture.
Major Sectoral Bodies
- AEM-Russia Consultations: comprising Economic Ministers from ASEAN and Russia and are held annually to review the overall economic relations and provide guidance and directions to enhance it.
- SEOM-Russia Consultations: comprising senior economic officials from ASEAN and Russia, and are conducted regularly to support the implementations of various initiatives and measures to support economic cooperation between ASEAN and Russia.
Key Documents
- Joint Media Statement of the Ninth AEM-Russia Consultations
- The Programme of Cooperation between ASEAN and EEC for 2021 – 2025
- The Recommendations from the Seminar on Regional Economic Integration, 9-10 December 2019, Moscow, Russia.
- Joint Media Statement of the Eighth AEM-Russia Consultations
- The Programme of Cooperation between ASEAN and EEC for 2019 – 2020.
- Joint Media Statement of The Seventh AEM-Russia Consultations, Singapore, 1 September 2018.
- The Sixth AEM-Russia Consultations
- Joint Media Statement The Fifth AEM-Russia Consultations, 5 August 2016, Vientiane, Lao PDR
- The Fourth AEM-Russia Consultations 25 August 2015, Kuala Lumpur, Malaysia
- Joint Media Statement of The Third AEM-Russia Consultations
- The Second AEM-Russia Consultations, 21 August 2013, Bandar Seri Begawan, Brunei Darussalam
- Joint Media Statements of the AEM-Russia Consultations, Manado, Indonesia, 11 August 2011
- Joint Media Statement of the 1st AEM-Russia Consultation, Da Nang, Vietnam, 24 August 2010
