At the end of 2024, mutual trade exceeded $40 billion. In Kuala Lumpur, the parties agreed on new cooperation mechanisms, including peaceful nuclear energy and settlements in national currencies.

At the recent Russia–ASEAN foreign ministers' meeting in Kuala Lumpur, the parties took stock of their economic interaction. According to the data presented, trade turnover between Russia and Southeast Asian countries at the end of 2024 reached a record high, exceeding $40 billion. Compared to 2015, the figure has grown by 70%.

"The current cooperation program is concluding with good results. The new strategy aims to increase mutual trade volume to $45 billion," said Nikita Kondratiev, Director of the Department for Multilateral Economic Cooperation at the Russian Ministry of Economic Development.

During the dialogue, the parties discussed a transition from a primarily resource-based model of interaction to more technology-driven sectors. Russian Foreign Minister Sergey Lavrov announced the launch of "new joint mechanisms, especially in knowledge-intensive and high-tech sectors."

One practical step was a partnership agreement between the Russian Energy Agency and the ASEAN Centre for Energy, signed in Moscow in October 2025. The document, among other things, covers the peaceful use of nuclear energy.

ASEAN Secretary-General Kao Kim Hourn, in his speech, called Russia a "global pioneer in the field of civilian nuclear energy." He noted that this sector has the "potential to enhance the region's energy security and sustainable development." The Russian-Vietnamese agreement on the development of nuclear energy, signed in 2025, was also mentioned.

The parties noted an increasing share of settlements in national currencies in mutual trade. Russia and Indonesia continue negotiations on a potential free trade agreement.

According to the Russian Foreign Ministry, ASEAN representatives at the Kuala Lumpur meeting supported Russia's role in regional affairs. "In our concept of Eurasian security, one of the main principles is respect for the structures created in various sub-regions, including ASEAN," said Sergey Lavrov. "We are united by a commitment to developing equitable international cooperation."

It is expected that representatives from all 11 ASEAN countries will participate in the upcoming summit in Kazan to discuss the strategic partnership plan until 2030.

Zaza Georgadze is a political scientist and writes on politics and economics.