ASEAN eyes deeper trade with Russia amid global realignment, says Nazir Razak

ST PETERSBURG, Russia: At the St. Petersburg International Economic Forum (SPIEF) 2025, Tan Sri Nazir Razak, Chairman of the ASEAN Business Advisory Council (ASEAN-BAC), called for a renewed push to expand ASEAN–Russia economic ties, warning that trade between the two regions has declined in recent years despite untapped opportunities.

“The total trade between ASEAN and Russia was about US$23 billion in 2016. Today, it stands at just US$16 billion,there’s clearly more that can and should be done.” Nazir noted.

Speaking at a high-level session focused on regional cooperation, Nazir urged Russian businesses to explore partnerships across Southeast Asia, particularly in areas such as agriculture, logistics, energy, and digital technology.

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