KUALA LUMPUR, October 27. /TASS/. Current challenges dictate the need for participants in international trade to build up new supply chains in order to create the best competitive conditions for development, Russian Deputy Prime Minister Alexey Overchuk told reporters.
"The challenges dictated by modern times, they are related also to matters of introducing overstated tariffs, various tariff barriers, which often have their goal to restrain development of certain countries, slow down development of economies. And everyone feels it towards itself. New supply chains should be created. The best competitive conditions to develop our economies should be created," Overchuk said.
The economic center of the globe "shifted from the West to the East," he said. "To the Southeast, to be exact. Southeast Asia is one of the most dynamically developing regions of the planet. Growth was above 4% there," the deputy prime minister said. "Russia and countries of the Eurasian Economic Union and countries of the North Eurasian region, certainly look at working closer with Southeast Asian nations," Overchuk said.
Trade between Russia and ASEAN countries totaled $23 bln in 2024, the official said. "We note growth by 16% against 2023. This is a very important message," Overchuk added.