MOSCOW, 20 May (BelTA) – The Eurasian Economic Commission is in favor of tighter cooperation with the Association of Southeast Asian Nations (ASEAN). The relevant statement was made by Tigran Sarkisyan, Chairman of the Board of the Eurasian Economic Commission, during the plenary session of the business forum held in Sochi to discuss business opportunities in Russia-ASEAN partnership, the press service of the Eurasian Economic Commission told BelTA.
Tigran Sarkisyan said: “It is time to start a dialogue between the Eurasian Economic Commission and ASEAN. We should decide on formats of this cooperation.” In his opinion, sharing information about matters the private sector is interested in such as trade, technical and customs regulations, lower barriers can be an effective way of interaction.
The Chairman of the Board of the Eurasian Economic Commission underlined that realizing the economic growth potential is the key purpose of regional integration. More favorable conditions for doing business emerge when barriers are removed and unified trade standards and regulations are applied. In turn, tighter control throttles prospects of economic growth. It is particularly obvious in the modern world where economic integration processes are far ahead of political processes. The contradiction poses risks for supranational bodies among other entities.
During the forum a public discussion took place. It involved ASEAN Secretary General Le Luong Minh, Russian Economic Development Minister Alexei Ulyukayev, President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin, President of the Asian Infrastructure Investment Bank Jin Liqun, Secretary General of the Shanghai Cooperation Organization Rashid Alimov and other persons.
ASEAN Secretary General Le Luong Minh stated that there are excellent prospects for developing trade and investments between the Eurasian Economic Union and the Association of Southeast Asian Nations. In his words, the two associations have common goals: liberalization of trade and services, reduction of regulatory barriers and so on. Le Luong Minh said that just like the Eurasian Economic Union ASEAN is intent on implementing four freedoms: the freedom of movement of goods, services, workforce, and capital in the ASEAN's Economic Community that was created in 2015. After mentioning the considerable volume of mutual trade between the Eurasian Economic Union and the Association of Southeast Asian Nations, the Secretary General spoke in favor of further bolstering ties between the entrepreneurship communities of the member states.
Secretary General of the Shanghai Cooperation Organization Rashid Alimov stated that the joining of integration processes in the Eurasian Economic Union, the Shanghai Cooperation Organization and the Association of Southeast Asian Nations will bring about interesting perspectives for entire Eurasia and the Asian-Pacific region. In his opinion, the accomplishment of this task will create unprecedented opportunities for doing business, developing trade and implementing transcontinental projects. As an example Rashid Alimov mentioned the agreement that the governments of the Shanghai Cooperation Organization member states signed in 2014 to enable favorable conditions for international automobile transportation.
The Association of Southeast Asian Nations (ASEAN) is an economic union established in 1967. The ASEAN members are Indonesia, Malaysia, Singapore, Thailand, the Philippines, Brunei, Vietnam, Laos, Myanmar, and Cambodia. Papua New Guinea and East Timor enjoy the observer status.
