Indonesia Strengthens Trade Ties with Russia Amid Rising Momentum

RRI.CO.ID, Jakarta - Indonesia is moving to deepen its economic partnership with Russia, as Deputy Trade Minister Dyah Roro Esti reaffirming the country’s commitment to expanding strategic cooperation in trade and investment.

Speaking in Jakarta on May 15, 2026, she highlighted the positive trajectory of bilateral trade and emphasized the need to sustain this momentum.

“We want to ensure this momentum continues through mutually beneficial trade growth and broader investment cooperation,” Roro said during a bilateral meeting with Russia’s Deputy Minister of Economic Development Vladimir Ilyichev in Kazan, Russia, on May 12, as quoted by Antara.

Trade between the two nations reached USD 4.8 billion in 2025, marking a 21.7 percent increase from the previous year. Russia remains Indonesia’s key partner within the Eurasian Economic Union (EAEU), contributing over 90 percent of Indonesia’s trade with the bloc.

Roro noted that the two economies complement each other. Russia supplies Indonesia with strategic commodities such as coal, fertilizers, and steel, while Indonesia exports palm oil, coffee, coconut products, and cocoa to the Russian market.

“Indonesia welcomes the growing trust of Russian consumers in our national products. We are committed to maintaining quality, competitiveness, and sustainability,” she said.

The meeting also addressed the progress of the Indonesia–EAEU Free Trade Agreement (FTA), signed in St. Petersburg in December 2025. Indonesia is accelerating domestic ratification, with implementation targeted for the third or fourth quarter of 2026.

To maximize its impact, Indonesia has proposed establishing the Indonesia–EAEU Business Council (IEBC) in collaboration with the Indonesian Chamber of Commerce and Industry (Kadin). “The council is expected to serve as a catalyst for strengthening business ties, expanding investment opportunities, and boosting trade,” Roro explained.

Beyond goods, Indonesia is opening opportunities in services trade, offering skilled professionals in information technology, construction, hospitality, and digital technology to support Russian industries.

Roro also invited Russian businesses to participate in the Trade Expo Indonesia (TEI) 2026, scheduled for October 14–18 in Banten. “TEI is an important momentum to connect businesses from both countries and open new avenues for trade and investment,” she said.

She further underscored Indonesia’s broader economic agenda under President Prabowo Subianto, which focuses on industrial downstreaming, value-added growth, and sustainable economic development.

This renewed push signals Indonesia’s intent to position itself as a reliable partner for Russia, leveraging trade, investment, and services to strengthen bilateral ties while advancing national development priorities. ***