Monday, March 1, 2021

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Russia Proposes To Combine ASEAN, EAEU & SCO To Form Greater Eurasian Partnership

Russia supports the creation of the Greater Eurasian Partnership involving the Eurasian Economic Union (EAEU), Association of Southeast Asian Nations (ASEAN) and the Shanghai Cooperation Organization (SCO), Russian Prime Minister Dmitry Medvedev stated at the Business and Investment Summit of the Association of ASEAN.

The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization comprising ten countries in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other countries in Asia.

ASEAN members include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

“We support the establishment of the Greater Eurasian Partnership with the participation of member states of the Eurasian Economic Union, ASEAN, SCO and other possible structures,” he said.

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Medvedev stated that such an idea was collectively backed by ASEAN leaders at the Russia-ASEAN summit in Sochi in May 2016. According to Russian PM, in the long term, it will make it possible to link large integration and infrastructure projects.

Russia believes that the partnership should be built on the principles of mutual respect and common benefit, that it will be open for accession by all interested states, Medvedev added. “We took a step towards it – Eurasian Economic Commission (ECE) and ASEAN signed a memorandum of Understanding on economic cooperation,” the Prime Minister noted.

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Medvedev said that Russia seeks to create the most favourable business environment in the EAEU with clear and understandable business rules.

He recollected that a similar document was signed with Singapore, and work is currently underway with other partners from the Association. ECE has already signed cooperation documents with Cambodia, Thailand, Indonesia. According to Medvedev, the implementation of these arrangements will be an additional incentive and will open new opportunities for joint work of the business of the countries of EAEU and ASEAN.

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