The Chamber will Promote the Expansion of Cooperation with the Asia-Pacific Region

The Chamber took part in the VII Russian-Singapore Business Dialogue organized by the Russian-Singapore Business Council (RSBC).


The main topic of the forum, which was held on November 3 via videoconference in Kuala Lumpur (Malaysia), Singapore and the Russian Chamber of Commerce and Industry, was "International Trade: New Challenges and Opportunities".


It was attended by Vice-President of the Chamber of Commerce and Industry of the Russian Federation Vladimir Padalko, Chairman of the RSDU Nikolai Volobuev, Ambassador Extraordinary and Plenipotentiary of the Russian Federation to the Republic of Singapore Nikolai Kudashev. Fedor Yatsevich, head of the Youth Russian-Singapore Business Council, acted as moderator at the Chamber of Commerce and Industry of the Russian Federation.

Welcoming the participants, Vice-President of the Chamber Vladimir Padalko noted that Russian-Singapore relations are now going through a difficult period. More recently, in 2021, the trade turnover between the countries showed good dynamics - its growth amounted to more than 30%, in absolute terms, the figure exceeded $2 billion. However, after Singapore joined the anti-Russian sanctions in 2022, a significant decline in trade cooperation is visible.

“However, the Russian Chamber of Commerce and Industry and the Russian-Singapore Business Council are making every effort to maintain economic ties between the countries, to create groundwork for the restoration of cooperation, which until recently was very intensive,” Vladimir Padalko emphasized.


In his opening speech, Nikolai Volobuev said that at the present stage, the intensity of business relations between Russia and the countries of the Asia-Pacific Region (APR) has increased significantly. The Russian-Singapore Business Dialogue is being held for the seventh time, it allows discussing topical and strategic issues of Russia's cooperation with the countries of the region, and identifying new areas of promising cooperation. During the business dialogue, its participants presented an analysis of the long-term experience of strategic partnership between Russia and the countries of Southeast Asia, the Middle East, China and India.


During the meeting, Russian ambassadors to Singapore and Malaysia, Russian trade representatives in Singapore and Malaysia, heads of the Rostec State Corporation, representatives of the Russian Chamber of Commerce and Industry, the Russian-Singapore Business Council, Russian and foreign government agencies, business communities and entrepreneurs spoke.

The final part in the course of the Russian-Singapore business dialogue was the holding of a youth session on the topic: "Intercultural communication as a necessary element of modern professional and social communication" with the participation of young specialists representing Russian higher educational institutions.


Press Service of the Chamber of Commerce