SOCHI (Sputnik) — The level of investment cooperation and trade between Russia and the Association of Southeast Asian Nations (ASEAN) is failing to meet its existing potential, Russian President Vladimir Putin said Friday at the Russia-ASEAN summit in Sochi.
"The current level of investment cooperation does not meet the existing potential. Total investment capital amounts to $11 billion, so it is important to work together to come up with the solutions to improve this situation, to identify a forward vector of [bilateral] business cooperation," Putin said.
On May 19-20, the Russian resort city of Sochi hosts the Russia-ASEAN summit, marking the 20th anniversary of Russia-ASEAN partnership. ASEAN comprises Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Cambodia, Laos, Myanmar and Vietnam.
