Tag: economy
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Iran: Macroeconomic Securitisation and the Pivot to “War-Time” Governance
The Iranian state is formalising a transition to a “war conditions” framework under Article 79, signalling a shift toward emergency command-and-control measures to address the systemic exhaustion of fiscal buffers and the “terminal volatility” of the rial.
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Iran: Protests and Economic Problems Threaten the Internal Stability
The internal security situation in the Islamic Republic of Iran has reached a critical threshold as localised economic grievances coalesce into broader political defiance.
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Putin’s 2025 Address and Russia’s Military, Political and Economic Framework
This report analyses President Vladimir Putin’s “Results of the Year” address, delivered on December 19, 2025.
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Kyrgyzstan Expands Economic Engagement with Afghanistan, Opening a Trade House in Kabul
This report examines Kyrgyzstan’s strategic expansion of economic engagement with Afghanistan through the establishment of a permanent Trade House in Kabul, assessing its political, economic, and security implications.
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Gulf Arab Monarchies Increased Their Economic Relations with Central Asia
The Eurasian Development Bank’s first macroeconomic study on the Persian Gulf states highlights a sharp expansion in trade and investment ties between the Gulf Arab monarchies and Central Asian republics over the 2020–2024 period.
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The Price of Stability: Iran’s Struggle against Inflation, Sanctions, and Capital Flight
The report analyses the immediate economic and geopolitical effects of current events in Iran, encompassing the private sector’s formal appeal to President Masoud Pezeshkian for urgent currency and regulatory reform amid a “neither war nor peace” climate, alongside a significant strengthening of Central Bank actions against rial-based stablecoin channels.
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Dagestan and the International Forum on Sustainable Development of Mountain Territories: Why Matters?
The International Forum on “Sustainable Development of Mountain Territories,” convened in Makhachkala on 1–3 October 2025, constitutes a significant demonstration of Moscow’s intent to promote Dagestan’s economy and integrate the North Caucasian republic into multilateral Eurasian frameworks.
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Pakistan SWOT Analysis: Geopolitics, Economy, and Security
This report provides a strategic SWOT analysis of Pakistan to support decision-makers in evaluating the country’s current geopolitical and economic position.
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Central Asia Economic Forum 2025: Business to Reinforce Russian Regional Presence via Tajikistan
The Central Asia Economic Forum (CAEF), held in Dushanbe in July 2025, confirmed Russia’s desire to preserve and expand its regional influence through business and cultural diplomacy.
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Ukraine Recovery Plan: Strategic Risk Assessment and Investment Outlook
This report analyses Ukraine’s investment climate through a SWOT framework and offers strategic recommendations for stakeholders seeking to assess risk exposure and economic potential.
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Tajikistan: Economic Vulnerabilities and Bilateral Fiscal Dynamics with Russia
This report evaluates Tajikistan’s response to the economic pressures stemming from Russia’s targeted import restrictions and Dushanbe’s concurrent implementation of a revised fiscal agreement with Moscow.
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Russia-Kazakhstan’s Business Dialogue: Updates from SPIEF 2025
This report analyses the current state and plans for Russia-Kazakhstan economic cooperation, as discussed at the 2025 St. Petersburg International Economic Forum’s business dialogue.
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The Geopolitical Dimension of the St. Petersburg International Economic Forum (SPIEF) 2025
This report assesses the strategic direction and geopolitical relevance of the 2025 St. Petersburg International Economic Forum (SPIEF), scheduled from 18 to 21 June 2025.
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Kyrgyzstan’s National Development Program Until 2030: Economic Outlook and Risk Assessment
This report examines the Kyrgyzstan’s economic development following the adoption of its National Development Programme until 2030. Bishkek has introduced ambitious growth targets, including a doubling of GDP and deep structural reforms across industry, logistics, agriculture, tourism, and green energy.
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Kazakhstan and UAE Cement Strategic Partnership through Maritime, Financial, and Trade Infrastructure Expansion
The report examines the deepening of economic and strategic relations between Kazakhstan and the United Arab Emirates, highlighted by the signing of nine bilateral agreements worth $5 billion. These include major investments in port infrastructure at Kuryk and Aktau, expansion of agri-food trade, and significant financial integration through the Astana International Financial Centre (AIFC).
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Kazakhstan: Foreign Direct Investments (FDIs) and Economic Outlook
Kazakhstan recorded a foreign direct investment (FDI) inflow of $15.7 billion in 2024, marking an 88% increase over 2023 and the highest figure in its post-Soviet history. The inflow consolidates its position as the primary investment destination in Central and Northern Asia.
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“Made in China 2025”: A Decade of Industrial Policy and Its Geopolitical Effects
This report assesses the trajectory, achievements, and limitations of Beijing’s “Made in China 2025” (MIC2025) industrial strategy and examines its geopolitical ramifications ten years after its launch. MIC2025 aimed to upgrade China’s manufacturing sector, reduce dependence on foreign technology, and position Chinese firms as global leaders in key high-tech industries.
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Central Asia: Projected Economic Deceleration Amid Fiscal Adjustments and Global Pressures (2025–2026)
This report analyses the Asian Development Bank’s (ADB) latest economic outlook concerning the Central Asian region, highlighting an expected deceleration in GDP growth of over 2025–2026. The ADB’s projections underscore persistent geopolitical and economic risks that could compound regional vulnerabilities in the medium term.
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United States: Political Polarisation and Its Impact on Economic Stability
This report assesses the growing political polarisation in the United States and its impact on economic stability. Utilising sources from publicly available government reports, economic indicators, and expert analyses, it examines key political trends and their implications for economic growth, investment confidence, and market stability.
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Insights from Turkmenistan’s International Investment Forum and Exhibition
Between March 17th-19th, 2025, Turkmenistan is hosting a series of events in Ashgabat, including an exhibition and the “Investments in the Future of Turkmenistan” international forum, which highlight the country’s domestic economic trends and strategy.
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Navigating Sanctions: Orenburg and Iran’s Economic Partnership
The report analyses recent economic and diplomatic activities involving the Orenburg Region of Russia and Iran, focusing on the deepening ties and joint cooperation opportunities. On February 21st-24th, 2025, a delegation representing Russia’s Oregon region, headed by Vice-Governor Ignat Petukhov, took part in the international EURASIA EXPO-2025 exhibition in Tehran.
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Ukraine conflict and Western Sanctions against Moscow: Analysis of Russian Efforts to Repatriate Frozen Assets in 2024
In 2024, Russia successfully recovered approximately 570 billion rubles ($6.3 billion) in assets previously frozen by Western nations because of the ongoing geopolitical conflict. Even with its successes, the substantial amount of Russia’s reserves frozen, primarily in the EU, remains a significant threat to its financial health.
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Beyond Sanctions: Iran’s Complex Quest for Economic Stabilisation
This report examines Iran’s ongoing efforts to stabilise its economy in the face of severe currency fluctuations, inflation, and external economic pressures
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Uzbekistan: Economic Growth in 2024 Amidst Local and Regional Challenges
This report examines Uzbekistan’s economic performance in 2024, focusing on trade dynamics, sectoral developments, and key geopolitical considerations. It highlights the country’s efforts to modernise its economy under President Shavkat Mirziyoyev’s leadership, supported by structural reforms and strategic international partnerships.
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International Forum “REBUS 2024” in Tatarstan and its Implications for Sino-Russian Economic Cooperation
The following report investigates the role of the “REBUS 2024” forum in Tatarstan as a catalyst for expanding Sino-Russian economic ties and regional cooperation.
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Islamic Banking in Russia: A SWOT Analysis
This report evaluates the strengths, weaknesses, opportunities, and threats (SWOT) surrounding Russia’s newly launched Islamic banking pilot programme. Started in September 2023, the programme seeks to assess the feasibility of Islamic financial services across Tatarstan, Bashkortostan, Chechnya, and Dagestan.
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Azerbaijan: Increasing Saudi Investments Might Boost Economic Diversification
The recent Azerbaijani-Saudi business forum underlined Baku’s attempt to diversify its economy and Riyadh’s desire to increasing its investment and economic presence in Azerbaijan and, therefore, in the South Caucasus region.
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Eastern Economic Forum 2024: A Geopolitical Assessment
An analysis of the Eastern Economic Forum’s business program highlights that Russia is strengthening the strategic eastern vector of its geopolitics, outlining a large-scale program for the development of its eastern territories and comprehensively strengthening ties with the leading actors of the Global South.
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Uzbekistan’s Interests in the African Market
The potential for economic cooperation between Uzbekistan and African countries is significant, with key sectors such as agriculture, mining, and industrial goods offering substantial opportunities for growth in bilateral trade. This report examines Tashkent’s key African partners and highlights the investment prospects arising from the economic collaboration between Uzbekistan and Africa.
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Investment Opportunities and Business Environment in Armenia: A Conversation with Levon Ohanesyan
Armenia’s strategic location, bridging Europe and Asia, has significantly contributed to its economic resurgence, catching the attention of global observers. SpecialEurasia recently convened with Levon Ohanesyan, CEO of Enterprise Armenia, in Yerevan to evaluate the nation’s investment landscape.
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Today’s Economy of Armenia: Interview with Gevorg Papoyan
During the official visit to Yerevan, SpecialEurasia discussed the country’s economic performance with the Minster of Economy of the Republic of Armenia, Gevorg Papoyan, with the ultimate goal of assessing local investments and trends and understand future opportunities and challenges for this South Caucasian republic.
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Global Economic Prospects Amid Geopolitical Turmoil
The World Economic Forum’s (WEF) latest Chief Economists Outlook presents a cautiously optimistic view of the global economy despite ongoing geopolitical conflicts and domestic political volatility.
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Ep. 21 – Uzbekistan and China’s Economic Relations and Central Asia
In our latest episode of the Geopolitical Report Podcast, we delved into the burgeoning economic and trade cooperation between Uzbekistan and the People’s Republic of China and its repercussions on the geopolitical landscape of Central Asia.
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Geopolitical Report: Kavkaz Investment Forum and the Future of the North Caucasus
The upcoming Kavkaz Investment Forum in Chechnya presents an opportunity to highlight the economic potential of the North Caucasus region. Recent years have seen robust socio-economic growth, but challenges remain, including over-reliance on tourism and external geopolitical pressures.
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Ep. 17 – Mounir Houari Described the Investment Strategy In Dakhla’s Region
On May 6th, 2024, during our official visit to Morocco, we recorded an insightful meeting between Silvia Boltuc, SpecialEurasia Managing Director, and Mounir Houari, the General Manager of the Regional Investment Center of Dakhla Oued Eddahab.
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Kazakhstan: A PESTEL Analysis
This PESTEL analysis delves into the key factors influencing Kazakhstan’s environment, providing insights for decision-makers seeking to navigate the complexities and capitalise on opportunities in the region.
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Kyrgyzstan: Investment Opportunities and Challenges
Kyrgyzstan presents a nuanced landscape for prospective investors, marked by a blend of promising prospects and enduring challenges. Its rich reservoir of metal resources, burgeoning tourism sector, and strategic positioning along the historic Silk Road attract potential investment ventures.
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EDB Macroeconomic Review and EAEU Members’ Economic Performance
Despite global economic uncertainties, the EDB region experienced robust recovery with an aggregate GDP growth of almost 4%. Internal drivers, such as high consumer and investment demand, were pivotal in sustaining this growth.
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Opening of Eurasian Economic Union (EAEU) Trading Houses in Iran: An Intelligence Assesment Report
The recent suggestion to open an Eurasian Economic Union Trading House in Iran underlined the organisation’s commitment to increase trade and cooperation with the Islamic Republic and the positive and increasing relations between Moscow and Tehran on different issues related to the Eurasian geopolitical chessboard.
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Uzbekistan Economic Performance in 2023, Country’s Future Development and the Karakalpakstan’s Issue
In 2023, the World Bank reported positive economic growth in Uzbekistan. However, the broader macro region, which encompasses Central Asia and Europe, presents intriguing dynamics. Despite the economic upturn, the Central Asian republic continues to grapple with pressing domestic challenges.
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North Caucasus’ Economic Performance in 2023: An Overview
While the North Caucasus Federal District demonstrates resilience, potential risks include external geopolitical influences and the need for sustained economic stability. The region’s dependency on tourism growth demands careful management to avoid overreliance on a single sector. Additionally, monitoring external pressures on the Russian economy remains crucial for sustained development.
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Exploring Iran-China Cooperation: A Ground Report on the Persian Gulf Bridge
The construction of the Persian Gulf Bridge between Qeshm and the Iranian mainland stands out as a pivotal project showcasing the growing collaboration between Tehran and Beijing. This on-site report aims to uncover the current status of exchanges between China and Iran, focusing on the potential advantages and outcomes linked to the construction of the Persian Gulf bridge.
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Qatar Increased Investments and Cooperation in Uzbekistan’s Strategic Sectors
The recent meeting between Uzbekistan and Qatar’s representatives in Doha underscores Tashkent’s policy shift towards broadening its trade and commercial partnerships and Qatar’s strategy to enhance its economic presence in Central Asia.
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Iran Opens the Country to Italian Companies: Why Does It Matter?
The recent meeting between the Iranian ambassador in Rome and the managers of selected Italian companies underscores a significant potential for economic cooperation between the two parties. Tehran’s keen interest in attracting foreign investors and companies, particularly those from Italy, is palpable.
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Visa’s Strategy in Kazakhstan Confirms Foreign Interests in the Local SMEs
The “Business Springboard” competition, which has been organised by Visa, demonstrates the significant interest foreign entities hold for the SMEs sector in Kazakhstan. It unequivocally signifies their commitment to solidifying their footprint in the local market and forging enduring relationships with the burgeoning community of small and medium enterprises.
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Modern Mongolia and the Economics of Herding
This analysis investigates the economic hardships experienced by Mongolian herders and explores the profound influence of global forces on their traditional way of life, shedding light on the intricacies of their livelihoods amidst an ever-changing landscape.
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Shifting Geopolitical Tides: St. Petersburg International Economic Forum Explores Russia’s Eastward Pivot
The St. Petersburg International Economic Forum (SPIEF) serves as a significant milestone in Russia’s foreign policy and economic strategy.
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Economic Cooperation and Security: Russia pushes Tajikistan’s Entry into the EAEU
The recent meeting between Russian Foreign Minister Sergei Lavrov and Tajikistan’s President Emomali Rahmon has unveiled the Central Asian republic’s strategic role for Moscow’s foreign policy in the region in defence, security, economy and social sectors.
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The Astana International Forum 2023: Kazakhstan’s Rise as a Strategic Investment Hub and Geopolitical Hotspot
SpecialEurasia will participate in the Astana International Forum 2023, as part of our ongoing commitment to monitoring and evaluating emerging markets and investment prospects in strategic countries like Kazakhstan and the broader Central Asian region.
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Dagestan and Tajikistan discussed expanding cooperation in different fields, especially the halal industry
Dagestan and Tajikistan’s entente on developing cooperation confirms the North Caucasus’s role in promoting relations between Russia and foreign countries, especially those in the blizhnee zarubezhe (near abroad) where the Kremlin wants to confirm its presence and influence.
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SpecialEurasia attended an event on Bahrain’s politics and economic opportunities
On May 30th, 2023, SpecialEurasia Managing Director, Silvia Boltuc, attended the event “Bahrain yesterday and today” organised by Laila Khrais on behalf of the Assadakah and Welcome Association Italy.
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Brussels and Beijing’s interest/competition in Central Asia
The first China-Central Asia Summit and the second EU-Central Asia Economic Forum highlighted Beijing and Brussels’ interests and competition in the region.
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NATO Needs a Bank to Increase its Effectiveness
The North Atlantic Treaty Organization (NATO) suffers from disproportionate financial burden-sharing., exacerbated by the fact the NATO has expanded its area of operations beyond the borders of NATO countries. A dedicated NATO bank could be the solution.
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Kazakhstan’s plans to increase exports to Iran emphasised Astana’s regional foreign policy
Kazakhstan’s desire to increase exports to Iran might hugely impact geopolitical dynamics in Eurasia, considering Astana’s desire to diversify and enhance its trade and economic partners to decrease Russia and China’s influence and Tehran’s necessity to overcome Western sanctions.
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Can the creation of the Shavat-Dashoguz trade zone support Uzbekistan and Turkmenistan’s economy?
The creation of the Shavat-Dashoguz trade zone might strengthen Uzbek-Turkmen’s economic cooperation and bilateral relations and attract foreign investors interested in establishing their business in Central Asia by exploiting local government’s trade agreements and logistic projects.
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Increased investment in Adygea confirmed the Kremlin’s strategy in the North Caucasus
Increased Russian investments in Adygea confirm the Kremlin’s strategy to implement the North Caucasus’ socioeconomic development and transform the region into a logistics hub supporting the diversification of Russian exports.
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Vietnam and Uzbekistan seek to expand economic cooperation
Since Uzbekistan and Vietnam are expanding their economic cooperation and relations, Tashkent might promote its role in Central Asia as a regional interconnector. At the same time, Hanoi might support its foreign policy by establishing a strategic partnership with international and regional actors.
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Italy and Turkmenistan discussed business opportunities: might Rome support EU policy in Central Asia?
The recent meeting between the Turkmen ambassador to Italy and the Italian Trade Agency’s representatives highlighted business potentialities between the two countries, Rome’s desire to increase its presence in the Turkmen and Central Asia markets, and Ashgabat’s strategy to diversify its commercial partners.
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Russia’s economy since the beginning of the Ukraine conflict: sanctions are taking their toll
The Russian invasion of Ukraine has sparked economic sanctions, which are meant to cripple the economy while detracting from Russia’s ability to wage war. This paper will analyse the sanctions’ impact, the war on the Russian economy and possible future implications.
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Potential risks facing businesses operating in Egypt
The pandemic crisis, the interruption of the supply chain, and the war in Ukraine with soaring fuel prices and shortages of flour and corn have put a strain on Egypt’s economic stability. In 2022, the Egyptian government adopted measures which resulted in harsher conditions for companies and local citizens, which Cairo currently hopes to overcome with the support of the International Monetary Fund.
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Discovering Russia’s key foreign target through Stavropol’s economic strategy
Stavropol authorities’ desire to open trade offices abroad might underline Russia’s strategic economic goal in the Eurasian geopolitical chessboard, especially in Azerbaijan, Iran, China, and the United Arab Emirates.
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Kyrgyzstan wants to strengthen commercial ties with the United States
The recent meeting between Zhaparov and the U.S.-Kyrgyzstan Business Council stressed Bishkek’s desire to strengthen economic relations with the United States and attract U.S. investors in its country. Balancing among these international players could be one of the main challenges that Kyrgyzstan should address, as well as the necessity to maintain control over the population and avoid possible socioeconomic problems.
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2022 Armenia economy: an interview with Vahan Kerobyan
SpecialEurasia met Vahan Kerobyan, the Minister of Economy of the Republic of Armenia, to investigate current Armenian economic trends and performance, the main drivers’ sectors, investment opportunities and fiscal policy.
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Cultural/fashion diplomacy and economy in Armenia: the story behind Udivila
During SpecialEurasia’s official mission to Yerevan, our team met with Armenian female entrepreneurs who founded the brand Udivila, which promotes Armenian culture and attempts to carve out a slide of a market where Armenia has not yet been present.
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Lower prices in Tajikistan: will Dushanbe face a “spiral deflation”?
Since August 2022, Tajikistan has started a deflationary process in the consumer sector to reduce the prices of goods and tariffs and stimulate the national economy.
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Turkey discovered a massive reserve or rare earth elements
The discovery of a massive deposit of rare earth elements in Turkey might change the geopolitical dynamics in the Eurasian chessboard since Ankara might challenge China, which has had the leading role in the market until now. Furthermore, this finding might change the domestic political scenario in Turkey and quiet doubts and disappointment about the country’s economic performance.
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SPIEF 2022, Russian economic strategy and international business
The Russian Federation will host international business companies and government representatives at the St. Petersburg International Economic Forum (SPIEF 2022), an event that underlines the Kremlin’s economic strategy and foreign politics in Eurasia and the global arena.
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Russian economy is shifting toward Eurasian markets through Iran
The Western sanctions against Russia caused by the Ukraine conflict have changed the Kremlin’s foreign policy, which currently seems to be more oriented toward the Eurasian market, as the recent Iran-Russia trade conference highlighted.
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Saudi Arabia and Kyrgyzstan enhanced economic cooperation and investment opportunities
Sauri Arabia and Kyrgyzstan discussed investments partnership confirming Riyadh’s desire to improve its economic presence in the Kyrgyz market and Central Asia and Bishkek’s necessity to diversify its financial partners and foreign investors.
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Russian invasion of Ukraine and economy
Since the early morning hours, the Russian invasion of Ukraine has affected the financial markets, particularly the Russian economy, creating fears and scepticism among investors and the Russian citizens.
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Uzbekistan and Kazakhstan strengthened their economic cooperation
The recent meeting between Uzbek and Kazakh representatives to discuss economic and trade cooperation highlighted both countries’ necessity to create a stable regional market and improve local financial performance to attract more foreign investments.
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Turkmenistan and Tatarstan strengthened their economic cooperation
Turkmenistan and Tatarstan aim to increase their economic cooperation and trade turnover and create a favourable environment to support joint projects, investments, and economic development. Tatarstan foreign policy in Central Asia is becoming more active and supporting Moscow’s regional strategy.
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Central Asian republics’ economic dependence on China
China has invested substantial financial amounts in Central Asia creating an economic dependence and strong connection between Beijing and Central Asian republics. Chinese economic presence in Central Asia might threaten Moscow’s Eurasian Economic Union (EAEU) and the Kremlin’s desire to remain the leading geopolitical actor in this region.
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Kazakhstan and Bashkortostan increased their trade volume and economic partnership
Since Kazakhstan and Bashkortostan have increased their economic partnership and trade volume, Ufa might significantly promote and strengthen Moscow-Nursultan relations.
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China in 2022: an economic overview
Although China’s economic growth has slowed in recent months due to several COVID-19 outbreaks, energy shortages and a regulatory crackdown in some sectors, the overall economic recovery is stable. Annual GDP growth is expected to reach 8% in 2021, down 0.1 from the July forecast.
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Tatarstan’s role in Kyrgyz economic diversification and investments attraction
The recent official visit of the President of Tatarstan in Bishkek and the forum ‘Tatarstan – Kyrgyzstan’ highlighted the role that Kazan might play in supporting the Russian strategy in the Kyrgyz republic by improving economic cooperation and trade turnover.
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AUCC supports U.S. economic cooperation with Uzbekistan
Thanks to the support of the American-Uzbek Chamber of Commerce, the United States aims at strengthening its economic presence in Uzbekistan, considering the strategic role that Tashkent plays in Central Asian dynamics and transport corridors and Afghan domestic politics.
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Turkmenistan increases economic and energy cooperation with Russia
Turkmenistan seeks regional and international partners to strengthen the national economic performance and attract investors in infrastructural projects. Recent meetings between Turkmen and Russian official representatives and companies underline the Kremlin’s strategy to increase its presence in the country and Ashgabat’s necessity to diversify its commercial partners.
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Kazakhstan and UAE strengthened their economic partnership
The recent intergovernmental agreement on implementing joint projects between the United Arab Emirates and Kazakhstan underlined the Emirati strategic interests in the Central Asian market characterised since Abu Dhabi has conspicuously invested in regional infrastructural projects.
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UAE Investment Interests In Kyrgyzstan
The United Arab Emirates are interested in investing in the Central Asian republic of Kyrgyzstan and financing infrastructural, economic, energy, and social projects to become a key actor in a country affected by a massive debt with China.
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Pakistani business interest in Uzbekistan
Pakistani officials have shown their interest in developing economic cooperation with Uzbekistan due to Islamabad’s regional strategy in Central Asia and Pakistan’s desire to play a more influential role in the region to counter India and support the Chinese Belt and Road Initiative.
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Iran-UAE commercial trade will increase among regional tensions
Iran and the United Arab Emirates will expand their commercial trade, although Tehran’s foreign policy is a source of permanent concern to Abu Dhabi and the Gulf states.
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Cooperation among Qatar and Uzbekistan
During the first official visit to Uzbekistan of the Ministry of Foreign Affairs of Qatar, Doha expressed its desire to improve the cooperation and strengthen the relations with Tashkent, confirming the Qatari interest in the Central Asian dynamics.
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EU-China Comprehensive Agreement on Investment: geopolitical implications
The recent EU-China Comprehensive Agreement on Investment can mark the beginning of a new phase for Brussels-Washington relations, cause consequences on the geopolitical Eurasian chessboard, and give birth to the renewed French-German leadership/confrontation in Europe.
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Investment opportunities and key sectors in Kyrgyzstan
Albeit in 2020 Kyrgyzstan experienced a contraction of foreign direct investments due to Covid-19 this post-Soviet republic might become an interesting market for foreign investors who aim at penetrating the Central Asian market which plays a significant role in the geopolitical Eurasian chessboard.
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The EU strengthens its economic partnership with Vietnam looking to the ASEAN in the future
The European Parliament approved the EU – Vietnam free trade agreement as a sign of Brussels’ major involvement in the ASEAN market. This trade agreement demonstrates that Brussels is building its way to becoming one of the main geopolitical actors in the ASEAN.
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