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Russia hopes ASEAN increases investments in different economic sectors

Trade turnover between the ASEAN and China, Japan and South Korea increased by 5% in 2012

BANGKOK, August 21 (Itar-Tass) - Russia hopes that the Association of South East Asian Nations (ASEAN) will increase its investments, Russian Economic Development Minister Alexei Ulyukayev said.

Speaking on the sidelines of the ASEAN Business and Investment Summit in Brunei, Ulyukayev said: “We expect the ASEAN countries to increase investments in the Russian transport infrastructure, high tech, aircraft building, pharmacology, energy and energy security.”

“We have specific projects. Special attention will be paid to the infrastructure in the Far East,” the Russian minister said.

Relations between the ASEAN, China, Japan and South Korea were one of the key issues at the forum. Almost half of all foreign investments account on these countries. Experts say in the last year the volume of investments had increased by 6.6%.

Trade turnover between the ASEAN and China, Japan and South Korea increased by 5% in 2012.

Thus, the summiteers said it was necessary to intensify trade turnover between the ASEAN countries. “Our internal turnover is only 25% ($598 billion). There is a good potential to increase and strengthen economic stability in the region,” Brunei’s Minister of Industry and Primary Resources Yahya bin Bakar said.

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