Results and prospects of cooperation

Abstract

The paper outlines the specificity of and the prospects for cooperation between the Eurasian Economic Union (EAEU) and the Association of Southeast Asian Nations (ASEAN). Although the parties have reasons to develop cooperation, at present they are identifying potentially promising areas of dialogue rather than have a comprehensive and nuanced vision on where the cooperation can be the most fruitful. This factor undermines the motivation of the EAEU and ASEAN to develop cooperation as a self-sufficient direction of their policies. Logically, the results obtained so far do not form the critical mass of achievements which could be a groundwork for future breakthrough outcomes. This is predetermined by numerous limiting factors, such as imbalanced trade, insufficient institutional framework and lack of possibilities to expand the business interaction. In the latter regard, the absence of the EAEU enterprises in the supply-production chains spanning through Southeast Asia and the Union in the ASEAN-led initiatives of economic regionalism, as well as lack of digital support of the EAEU trade policy play the pivotal role here. In order to overcome these obstacles, the paper offers a set of recommendations. Timely steps include building up connections between the ASEAN Secretariat and the Eurasian Economic Commission, the realization of flagship projects in Southeast Asia with the EAEU’s complete financial support, strengthening the EAEU–ASEAN digital connectivity. Developing contacts between the EAEU and the ASEAN flagman companies is a timely exercise. Strengthening all-embracing connectivity between small and medium business is the most topical and relevant effort. This multi-dimensional activity can reinvigorate the presently insufficient EAEU–ASEAN cooperation, simultaneously allowing the parties to reverse the current trend of de-institutionalization in the global affairs.