KUALA LUMPUR – The inaugural World of Opportunities: Russia-ASEAN International Business Forum which began here today is the fastest follow-up from the Russian side following Prime Minister Datuk Seri Anwar Ibrahim’s two-day working visit to Vladivostok, Russia in September.
According to Malaysia External Trade Development Corporation (MATRADE) deputy chief executive officer Abu Bakar Yusof, after the visit, the Russians continued to be in touch with Malaysia to organise the forum in order to go through whatever were discussed during the prime minister’s visit to Russia.
“I believe this is actually one of the quickest follow-ups from the Russian side. We (MATRADE) are looking to this kind of programme in the future so that we can further identify new areas of collaboration,” he said during the plenary session of the forum entitled ‘Russia and ASEAN: Towards A New Stage of Trade and Economic Cooperation.
During Anwar’s visit to Vladivostok in September, he was reported as saying his two-day working visit was a major boost for bilateral ties between Malaysia and Russia.
The prime minister said his bilateral meeting with President Vladimir Putin was fully utilised not only to enhance trade relations, but also government-to-government (G2G) cooperation, including in aerospace, advanced technology, energy transition and modern agriculture.
In 2023, Russia was Malaysia’s 8th largest trading partner among European countries, with total bilateral trade increasing by 15.6 per cent year-on-year (y-o-y) to RM14.22 billion (US$3.1 billion), compared to RM12.3 billion (US$2.79 billion) recorded in 2022.
Elaborating on Malaysia-Russia ties, Abu Bakar said trade between the two countries grew last year despite numerous uncertainties.
“Double-digit (growth) for trade, for export and for import. Most of our (Malaysia’s) trade with other countries had slowed down or there was negative growth. And this year, from January to October, our exports to Russia and imports from Russia also grew. So, that’s something we should ponder,” he added.
Meanwhile, ASEAN Business Advisory Council Malaysia chairman Tan Sri Nazir Razak who is also one of the speakers during the session told reporters that the event is timely, especially since Malaysia is taking over the ASEAN chairmanship next year.
Through this event, Malaysia can invite all the Russian friends with various expertise to discuss and participate in many collaborations, he said.
Organised by Roscongress Foundation, the two-day forum is aimed to consolidate the positions of key economic players in the region and serve as an essential platform for discussion and extensive coverage on strengthening trade and investment ties between Russia and ASEAN. – November 26, 2024