ASEAN deepens Russia, India, UK trade ties

Association of Southeast Asian Nations (ASEAN) is deepening trade and investment ties with Russia, India and the United Kingdom (UK) as the region seeks stronger supply chains and greater resilience amid geopolitical tensions, energy volatility and rising business costs.

Two-way trade between ASEAN and the three partners totaled nearly $194 billion in 2025, based on figures presented during separate economic ministers’ consultations held in Manila.

Trade between ASEAN and India reached $114.1 billion, while ASEAN-Russia merchandise trade stood at $17.8 billion. Trade in goods and services between ASEAN and the UK reached £62 billion, or about $84 billion, last year.

FDI from India

The ASEAN-India meeting also noted $7.1 billion in foreign direct investment (TDI) from India in 2025, making India the bloc’s ninth-largest source of FDI.

ASEAN and India agreed to intensify negotiations on the review of the ASEAN-India Trade in Goods Agreement, or AITIGA, with officials seeking a more effective and business-friendly pact.

The review aims to make the agreement more user-friendly and trade facilitative while reflecting current business needs and supporting more resilient regional supply chains. India also proposed discussions on reviewing the ASEAN-India Trade in Services Agreement.

Trade and investment cooperation with Russia

With Russia, ASEAN endorsed the ASEAN-Russia Strategic Programme on Trade and Investment Cooperation 2026–2035, covering 11 areas including trade, digital transformation, science and technology, transport, agriculture, energy, mining, climate change, circular economy, tourism and the creative economy.