Semarang, Central Java (ANTARA) - Indonesian Trade Minister Zulkifli Hasan has stated that Russia is a crucial trade and investment partner for the Association Southeast Asian Nations (ASEAN).

"Russia is ranked as the ninth largest investor among ASEAN dialogue partners in 2022," he said while opening the ASEAN Economic Ministers' consultative meeting with Russia on Monday.

He added that Russia also held the same ranking for trade balance with ASEAN in the same year.

Hasan, as chair of the ASEAN Economic Ministers in 2023, remarked that the Southeast Asian bloc needs Russia's support to strengthen unity in facing various global challenges going forward.

The meeting is part of the 55th ASEAN Economic Ministers' Meeting and Related Meetings, held on August 17-22, 2023, in Semarang, Central Java.

The Russian delegation at the meeting was led by Director General of the Department of Multilateral Economic Cooperation and Special Projects of the Ministry of Economic Development of the Russian Federation, Nikita Kondratyev.

Hasan explained ASEAN's important and relevant role to the Russian delegation.

Southeast Asia is also a place of sustainable economic growth and is determined to create an architecture for inclusive economic growth, he added.

"This meeting is an essential momentum to strengthen the economy of ASEAN and Russia," he affirmed.

During the meeting, Kondratyev explained that the ASEAN-Russia's trade turnover in 2022 rose by 20 percent to reach US$20 billion, the highest since 2014.

Meanwhile, during the January-June 2023 period, the trade turnover increased by 3.6 percent as compared to that recorded in the first half of 2022.

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Translator: Indra Arief, Raka Adji
Editor: Anton Santoso
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