TRUST THROUGH TECHNOLOGIES

Today, the Asia-Pacific region stands as the global centre of economic gravity where trade and investment flows converge. To grasp the sheer scale, one need only consider key indicators: by late 2024, the combined GDP of the APEC economies—the region’s most significant players— reached USD 68 trillion, accounting for 61% of the world total. This vast area is home to three billion people, and APEC economies alone generate more than half of all world trade—a staggering USD 21.6 trillion, or 51% of the global share. Notably, intra-regional trade continues to deepen. By the close of 2025, the volume of goods traded within APEC had risen by nearly 15%, underscoring the persistence of integration despite prevailing turbulence.

On a wider scale, fragmented global economy, disrupted supply chains, rising protectionism and growing trade restrictions contribute to a climate of heightened uncertainty, directly affecting APEC economies, which are deeply integrated into the global economic system. Yet the region is not contending with external pressures alone; it also faces its own structural challenges. Macroeconomic imbalances call for reform of institutions and coordination mechanisms, a new technological paradigm and the advance of digital transformation demand investments in human capital, while climate challenges and demographic shifts urge to seek sustainable and inclusive growth models.

In this context, Russia’s engagement with Asia’s multilateral dialogue formats has already become a key component of its foreign economic strategy, aimed at broadening economic ties, advancing national priorities, and integrating into the evolving architecture of regional cooperation. Experience shows that the Asian model of interaction largely rests on the ability to find common ground and forge long-term collaborative links.

A pivotal driver of these connections is the Asia-Pacific Economic Cooperation (APEC) forum. The key to its appeal lies in its “soft power”: a flexible, non-confrontational framework focused on crafting practical solutions and harmonising approaches to new economic challenges. APEC acts akin to an incubator for initiatives, many of which later find their way into domestic policy and regional standards.

A balanced representation of both developed and developing economies within APEC, where every voice is heard, creates a foundation in which consensus is the guiding principle. And the business track plays a particularly important role: it is a dialogue among major corporations which gives them a direct channel for conveying their priorities to economic leaders and ministers. It is hardly surprising that the APEC Business Advisory Council often sets the tone in debates over what the market truly needs in terms of the “rules of the game.” For Russia, participation in this work opens up opportunities to strengthen partnerships and shape a favourable external environment for long-term economic development. Amidst current geoeconomic context Russia not only maintains full membership across all working bodies of the Forum but also leverages the platform to promote internal priorities and to explore promising niches for advancing the economy’s best practices and solutions.

One area where Russia can offer competitive solutions to deepen trade and economic regional integration is the financial sector. The economy boasts a unique regulatory framework in digital financial technologies. Unlike most jurisdictions, Russia has established a specialised legal regime for tokenised financial rights. The results were quick to follow: in 2024, Russia’s primary market for digital financial assets (DFAs) grew nearly ninefold, reaching 594 billion roubles. Notably, by late 2024, Russia accounted for 20% of the global DFA market. This paves the way for cross-border settlements with APEC partners, bypassing traditional correspondent banks that find themselves pressured by Western sanctions. Furthermore, small and medium-sized enterprises (SMEs) form the backbone of APEC economies, accounting for 97% of all businesses and more than half of employment across the region. Yet, while their contribution to GDP ranges from 20 to 50% depending on the economy, access to funding remains one of their most acute structural vulnerabilities. According to the Asian Development Bank, the SME lending gap across the Asia-Pacific region stands at a staggering USD 2.5 trillion—more than half of the global total.

Key barriers include the “thin credit file” along with the inability to offer physical collateral. It is here that Russian expertise in the digital profiling of businesses using state registers (such as those of the Federal Tax Service and the Federal Customs Service) and credit scoring based on transactional data could serve as a model for economies with less developed infrastructure. Pilot projects with APEC partners on SME credit scoring could give significant impetus to the development of open finance across the Asia-Pacific region.

These along with other financial innovations—including financial support for SMEs and start-ups, green finance, and experimental legal regimes (or “regulatory sandboxes”) in the financial sector—are being actively promoted by Russia within the APEC Economic Committee.

Scientific, technological and innovation cooperation represents another promising avenue for collaboration. The primary focus here is a resilient and competitive regional economy—one in which technology serves the real sector and drives greater efficiency. Essentially, it is about the integration into a new technological paradigm which defines the global balance of power.

Artificial intelligence holds a special place on the APEC agenda. In 2025, under the chairmanship of the Republic of Korea, APEC leaders adopted a dedicated AI initiative. This year, China will host the first ministerial meeting on AI, firmly establishing this area as a cross-cutting priority for the Forum.

This trend towards AI aligns perfectly with Russia’s priorities. The economy has built a self-sufficient AI ecosystem: today, there are twelve research centres employing 1,500 scientists, two sovereign large language models, YandexGPT and GigaChat, and the AI assistant at the public services portal “Gosuslugi,” which processes up to 4 million queries daily. This could prove valuable for APEC partners facing similar challenges in digital transformation and e-governance.

A broad range of instruments aimed at achieving technological sovereignty is outlined in Russia’s portfolio of federal projects and national programmes until 2030. In practice, these are implemented through technoparks, industrial clusters, and preferential financing schemes. For instance, over the past decade alone, the Industrial Development Fund has granted more than 2,000 soft loans totalling some 700 billion roubles, supporting the modernisation of industrial production.

It is only natural that the potential of these initiatives extends beyond one’s borders—our APEC partners have shown genuine interest in Russia’s experience. The Russian Ministry of Economic Development facilitates the scaling of domestic expertise through the APEC Political Partnership on Science, Technology and Innovation, including via project-based mechanisms.

This year, two projects are being carried out in cooperation with our partners. The first focuses on exploring the potential of AI technologies within the creative industries, aiming to boost productivity and broaden corporate access to international markets. The second involves a skills development programme on the use of economic-mathematical modelling, Big Data analysis, and AI methods to support decision-making in sustainable economic development.

Russia’s engagement in APEC’s tourism track seamlessly aligns the economy’s international efforts with its national development goals. Sustainability, digitalisation, and human capital have now taken centre stage— tourism has long ceased to be viewed merely as a service sector; it has become a powerful driver of economic growth and people-to-people ties.

At the domestic level, Russia has set ambitious targets to increase tourism’s share of GDP to 5% and to raise the number of tourist trips to 140 million per year. At the same time, the aim is to expand imports of tourism services by 2030. Recent trends inspire optimism: inbound tourist flows from APEC economies to Russia nearly doubled, rising 2.5 times between 2023 and 2025 to reach 1.28 million visitors. Cooperation within APEC helps to align these efforts with regional trends, especially given the industry’s robust recovery following the pandemic and the rise in tourism across the Asia-Pacific. Economies share a common understanding of the need to cut barriers to the entry, enhance educational programmes, and foster a conducive climate for the hospitality industry.

Alongside, domestic tourism agendas have incorporated objectives aimed at fostering sustainable and inclusive tourism. It is in this vein that, in 2023–2024, the Russian Ministry of Economic Development, in collaboration with the Association “World Without Borders,” implemented a project under the APEC Tourism Working Group “Youth Involvement in the Development of Sustainable and Safe Tourism in Rural Areas of APEC Economies.” The project culminated in a report on rural tourism across APEC, offering a range of recommendations for attracting young people to the sector throughout the Asia-Pacific region—from grant support and educational programmes to mentorship initiatives, as well as further integration of digital solutions into tourism products.

One of the current initiatives focuses on a completely novel area for APEC—space tourism. Specifically, APEC partners were invited to coordinate efforts to unlock the tourist potential of space museums and exhibitions, sharing best governance practices that blend science and entertainment within museums. It has resonated particularly strongly with economies lacking their own space infrastructure, yet recognising the need to popularise space exploration among younger generations.

Women participation in the economy and trade is a crucial pillar of sustainable development. Representing 54% of Russia’s population, women potential remains a vital resource for economic diversification.

In the Asia-Pacific region, achieving gender equality has a clear structural dimension. It is not simply a matter of the traditional economic and financial gaps; there is also a widening digital divide between women and men. The focus is shifting towards supporting women in STEM and digital professions, where there is a growing demand for developing advanced skills.

At the same time, the demographic crisis—a long-term decline in birth rates and an ageing population—not only exacerbates existing imbalances but also elevates women economic activity to a macroeconomic priority across many Asia-Pacific economies. It is no coincidence that in 2025, under Korea’s APEC chairmanship, its leaders adopted a special initiative addressing demographic challenges.

Russian experience in supporting women economic activity has long been regarded as exemplary within APEC. Key indicators attest to the significance of the women agenda for the Russian economy: over 40% of businesses in Russia are currently led by women, and they account for over 42% of individual entrepreneurs. In high-tech sectors—digital services and creative industries—women employment reaches as high as 70%.

Promoting women entrepreneurship is a priority under Russia’s National Strategy for Women until 2030, which involves a broad range of measures—from educational programmes to preferential lending. Russia has been consistently sharing this experience within the APEC Policy Partnership on Women and the Economy.

Oneoftheflagshipinternational projects remains the APEC BEST AWARD, a joint initiative established by the Russian Ministry of Economic Development and OPORA RUSSIA in 2016. Looking back over the past decade, it would be difficult to overstate its importance: the networking opportunities and professional contacts forged through the competition open doors for participants to new markets, investors, and partners.

Russian participants have repeatedly become winners and laureates in categories related to the green and creative economies. This not only attests to the effectiveness of domestic support measures but also highlights the substantial contribution of domestic projects to developing sustainable business models that are in demand throughout the Asia-Pacific region.

Today, for Russia, APEC is a platform where long-term rules of engagement are shaped in the world’s most dynamic regions. Our initiatives— from AI in creative industries to women entrepreneurship—set a straight course in which technological sovereignty, innovation, and inclusivity are not alternatives but rather drivers of sustainable growth. And Russia’s coherent vision is sure to find a practical implementation through partnerships that strengthen connectivity across the Asia-Pacific region.