ASEAN-Russia Summit held to boost cooperation

Regional experts note that in the relationship between Russia and the ASEAN countries, politics is far ahead of the economy, meaning that one of the top priorities of the summit is to bridge this gap.

Chief economist with the Eurasian Development Bank Yaroslav Lissovolik told Radio Sputnik that while previously the highest priority was given to trade relations between Russia and the countries of the region, it is now giving way to investment cooperation.

"Asia-Pacific markets have a surplus of free funds ready to be invested. The cooperation with ASEAN for Russia - is an entry to the fast growing region and a potential way of cooperation within Trans-Pacific Partnership (TPP), which includes the ASEAN member states," he said.

Lissovolik mentioned that it also sets preconditions for the industrial and regional diversification and re-orientation of trade flows.

All the above holds a huge potential, which has not even started to be implemented.

However a creation of a favorable investment climate is a long-term and painstaking job. Any investor has to be sure that the cooperation will be both lucrative and stable.