Vietnam proposes five priorities for ASEAN-Russia economic cooperation

At the 11th Eastern Economic Forum in Vladivostok, Vietnamese Finance Minister Ngo Van Tuan proposed five key priorities to deepen economic cooperation between ASEAN and Russia. These priorities include strengthening supply chains, enhancing transport and logistics, advancing science and technology, promoting green growth, and fostering finance and people-to-people exchanges.

Minister Tuan highlighted Vietnam's strategic role as an economic bridge, noting that Vietnam's trade with Russia reached approximately $4.77 billion in 2025, accounting for nearly one-fourth of total Russia-ASEAN trade. He emphasized that Vietnam's extensive network of free trade agreements, including its agreement with the Eurasian Economic Union, positions it as a gateway for Russian businesses to access ASEAN and other international markets. Conversely, Russia's Far East region offers opportunities for ASEAN businesses to enter the Russian and Eurasian economic spaces.

With Russia-ASEAN trade reaching roughly $21 billion in 2025, Tuan stressed the need to transition from general cooperation plans to concrete, measurable projects. The proposals align with the ASEAN-Russia Comprehensive Plan of Action for 2026-2030, aimed at deepening the strategic partnership through substantive trade and investment flows.