The Association of Southeast Asian Nations (ASEAN) is interested in developing cooperation with the Eurasian Economic Union (EAEU), Oudet Souvannavong, co-chair of the ASEAN Business Advisory Council, said on Friday.

“We look forward to new opportunities of trade and investment and also of the expanding of the potential of the ASEAN into the Eurasian Economic Union, which is five countries and has a larger market for ASEAN and larger opportunities for investment,” Souvannavong told a news brifing at the Russia-ASEAN summit in Sochi.

“There are 57 projects in line but we have to find companies to start these projects, to make it happen,” he said.

Souvannavong, who is also the vice president Lao National Chamber of Commerce and Industry, said the Sochi forum “has stregthened the ties between Russia and ASEAN.”

He said the forum “is just the beginning” and expressed hope that the coming international economic forums in St Petersburg and Vladivostok will make the way for further cooperation between Russia and ASEAN.