Russia, ASEAN to Study Possibility of Economic Cooperation with EEU, SCO

Russia and the member states of the Association of Southeast Asian Nations (ASEAN) said they would study the possibility of creating economic cooperation between ASEAN, the Eurasian Economic Union (EEU), and the Shanghai Cooperation Organization (SCO), according to the Summit declaration.

SOCHI (Sputnik) — The association is also interested in creating an ASEAN-EEU free trade zone, the declaration reads.

"Explore the possibility of mutually beneficial cooperation among ASEAN, EAEU and the Shanghai Cooperation Organisation (SCO)," the document reads.

Russia also initiated the proposal to think of the possibility of creating a free trade zone between ASEAN and the EEU.

"Russia put forward a proposal to launch a joint feasibility study of a comprehensive free trade area between ASEAN and EAEU. ASEAN will consider this initiative," the declaration said.

Russia and ASEAN member states have also agreed to investigate possible cooperation in energy, including in the gas, oil, electric, and nuclear energy spheres, according to the ASEAN Summit declaration released on Friday.

"Explore cooperation in the areas of oil and gas, electric power, energy efficiency, civilian nuclear energy, and renewable energy to enhance energy security," the document reads.