Vietnam calls for stronger Russia ASEAN economic cooperation
Vietnamese Finance Minister Ngo Van Tuan called for more concrete economic cooperation between Russia and ASEAN at the Russia ASEAN Business Dialogue held on the sidelines of the 11th Eastern Economic Forum in Vladivostok on September 2
During a dialogue involving Russian and ASEAN representatives, Vietnam's Minister of Finance, Tuan, called for stronger economic cooperation between Russia and ASEAN. Sergey Katyrin, president of the Russian Chamber of Commerce and Industry, was among those in attendance. Vietnam and Russia have a long-standing relationship, with 2026 marking the 35th anniversary of their ties.
The recent Russia-ASEAN Summit and the adoption of a comprehensive action plan for 2026-2030 have strengthened the strategic partnership between Russia and ASEAN.
The minister noted that Russia-ASEAN trade had grown by nearly 58% over the past decade, reaching $21 billion in 2025. However, there is significant potential for expansion. Vietnam is currently on a path to becoming a developed country with modern industry and a high-income economy by 2030 and 2045, respectively. To achieve these goals, Vietnam is accelerating development in science, technology, digital transformation, and AI while investing in human resources and improving the investment environment.
Vietnam, as the first ASEAN country to sign a free trade agreement with the Eurasian Economic Union, can serve as a bridge for Russian businesses seeking access to ASEAN and international markets. In return, Russia's Far East offers opportunities for Vietnamese and ASEAN businesses to access Russian and broader Eurasian markets.
The minister outlined five priorities for strengthening economic ties between Russia and ASEAN: developing new supply chains, improving transport and logistics connectivity, leveraging science and technology, expanding energy cooperation, and broadening finance, investment, tourism, and people-to-people exchanges.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
