ASEAN, Russia upgrade ties to strategic partnership

Source: Xinhua| 2018-11-15 12:13:49|Editor: Chengcheng
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SINGAPORE, Nov. 15 (Xinhua) -- The Association of Southeast Asian Nations (ASEAN) and Russia agreed to lift their overall ties to a strategic partnership through closer cooperation on a mutually beneficial future relations based on equality so as to promote peace, stability, prosperity and sustainable development in the region.

The two sides held their third summit on Wednesday with the attendance of Russian President Vladimir Putin.

The two sides agreed to promote peace, security, stability and prosperity in the region by further deepening of relations, mutual trust and confidence, adding that they also should enhance economic cooperation amidst growing protectionism.

They reaffirmed that international trade and investment are important drivers for sustainable economic growth and development, according to a joint statement late Wednesday.

Russia in 2017 established its mission and dispatched an ambassador to ASEAN in Jakarta. Two-way trade between ASEAN and Russia surged by 35 percent last year and investment totaled over 25 billion U.S. dollars.

During Wednesday's summit, the two sides also agreed to enhance cooperation in sectors including energy, agriculture, infrastructure science and technology.

Established in 1967, ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.