Jakarta. Indonesia is exploring the formation of a joint venture with Russia to build a fertilizer manufacturing plant, according to Agriculture Minister Andi Amran Sulaiman, following his recent official visit to Moscow.

Speaking in Jakarta on Sunday, Amran said Russia has expressed readiness to invest in the project, which is intended to serve both domestic needs and export markets.

“We hope to establish a joint venture to build a fertilizer plant in partnership with Russia,” Amran said. “The goal is to create a mutually beneficial investment for both countries.”

The proposed plant would not only supply fertilizers for Indonesia and Russia but also produce for export to third countries, Amran noted.

During his visit, the minister held a bilateral meeting with Russian Agriculture Minister Oksana Nikolaevna Lut, where the two sides also discussed broader agricultural cooperation.

Amran said the talks included a proposed barter agreement: Indonesia would increase crude palm oil (CPO) exports to Russia, while in return, Russia would facilitate beef exports to Indonesia.

“We received a special invitation from the Russian Agriculture Minister to continue discussions in October. We’ve proposed to increase Indonesia’s CPO exports to Russia as part of this cooperation,” he added.

Amran also said Russia had shown interest in collaborating on agricultural technology, signaling another potential area of strategic cooperation.

The minister’s trip to Russia was part of a broader Indonesian delegation accompanying President Prabowo Subianto, who was invited as a speaker at the St. Petersburg International Economic Forum last weekend.

Add as a preferred source on Google +