In the next 3-5 years Russia’s supply of value added goods is projected to total 10 percent of the imports to ASEAN countries, said Pyotr Fradkov, head of the Russian Export Center, on May 12 at a press conference dedicated to the upcoming Russia-ASEAN 2016 business forum.
"Up to 80 percent of our exports to the ASEAN countries are value added products, not raw materials," Fradkov added.
The Russia-ASEAN 2016 business forum will be held in Sochi on May 19. It will be attended by over 500 entrepreneurs from Russia and ASEAN countries. It will be organized by the Russian Chamber of Commerce and Industry.
ASEAN is one of the world's largest regional organizations with a total population of more than 600 million people and a combined GDP of $6.4 trillion in its member states. Foreign trade turnover between members exceeds $3 trillion.