Indonesia, Russia Agree to Expand Trade and Economic Cooperation
Jakarta, The Gulf Observer: Indonesia has reaffirmed its commitment to strengthening strategic cooperation with Russia, particularly in the fields of trade and economic development, as bilateral trade between the two countries continues to record significant growth.
According to an official statement issued on Friday, Indonesia’s Deputy Minister of Trade, Dyah Roro Esti highlighted the importance of enhancing mutually beneficial trade and expanding investment cooperation during a bilateral meeting with Russian Deputy Minister of Economic Development Vladimir Ilyichev in Kazan.
The meeting, held on May 12, focused on strengthening trade and economic ties between Indonesia and Russia. Esti noted that bilateral trade between the two countries reached US$4.8 billion in 2025, reflecting an increase of 21.7 percent compared to the previous year.
She stated that Russia remains Indonesia’s primary trading partner within the Eurasian Economic Union, accounting for 90.6 percent of Indonesia’s total trade with the bloc.
The Indonesian deputy minister emphasized that the two countries share a complementary trade relationship, with Russia supplying strategic commodities to Indonesia, including coal, fertilizers and steel products, while Indonesia exports palm oil, coffee, coconut-based products and cocoa to the Russian market.
Esti also highlighted progress in the ratification of the Indonesia-EAEU Free Trade Agreement, signed in December 2025 in St. Petersburg. She said Indonesia is accelerating the domestic ratification process with the aim of implementing the agreement in the third or fourth quarter of 2026.
To support the implementation of the agreement, Indonesia has proposed the establishment of the Indonesia-EAEU Business Council in collaboration with the Indonesian Chamber of Commerce and Industry.
“The establishment of the Indonesia-EAEU Business Council is expected to strengthen ties among business communities, expand investment opportunities and encourage greater trade cooperation,” Esti remarked.
She further noted that Indonesia is open to cooperation in the services sector by offering skilled professionals in information technology, construction, hospitality and digital technology to support Russian industrial needs.
During the meeting, Esti also invited Russian business leaders to participate in the Trade Expo Indonesia 2026 scheduled to be held in Banten from October 14 to 18, 2026.
She added that the Indonesian government, under the leadership of President Prabowo Subianto, continues to prioritize industrial downstreaming, value-added production and sustainable economic growth as part of its national development agenda.
